Bruce Ratner went on Bloomberg yesterday to discuss the state of the local economy and progress at Atlantic Yards. During the interview, he said he expects to break ground on the first apartment tower at the site by December or January.
That is pushing Ratner’s promise made last fall to have the tower under construction sometime this year. He also promised renderings in the first half of the year, but here we are in June. Could this further undermine the blown 10-year timetable for the project?
Who cares, because everyone is cheerleading for the new basketball arena, even this Bloomberg reporter.
Ratner did say he had $100 million in financing lined up from the bank. That does not sound like so much money for a 32-story apartment building, so could it mean Ratner is in fact going forward with plans for a more affordable prefabricated building? The Observer has reached out to a Ratner rep for details.
Ratner also mentioned that Mikhail Prokorhov is still mulling taking a 20 percent stake in the Atlantic Yards project, and Forest City Ratner is preparing a final presentation for him soon as the partnership must be finalized in the next six months. How do you say the clock is ticking in Russian?