Jersey City developer LeFrak: project expected to take 20 years should take 50 years (or maybe 60 years)

From The Real Deal, 5/22/23, Richard LeFrak to step back from day-to-day role at firm:

LeFrak said he originally expected the waterfront redevelopment [in Jersey City] to take 20 years. But with 22 project sites left in the Newport area, he said it will likely take at least 50. His sons estimate 60.

Now the Newport project is far larger than Atlantic Yards/Pacific Park--a 300-acre site vs. a 22-acre one--so they're not directly comparable.

What is comparable is that optimistic assumptions about a project's buildout--remember, Atlantic Yards was long supposed to take ten years, but now would likely take 25+ years--are not uncommon in big, complicated, multi-part real estate projects.