The Real Deal New York

Atlantic Yards condos to be delayed

December 24, 2008 09:19AM

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Forest City Ratner, developer of the Atlantic Yards project, told city
and state officials at a private meeting Monday that it would build
rental units rather than condominiums during the first phase of
construction at Atlantic Yards. The new plan entails building
approximately 900 rental units in three towers, which were previously
intended to house condos and commercial space. Some of these units
would be affordable rental apartments and others would be luxury
apartments. The Atlantic Yards project has struggled recently. Project
architect Frank Gehry laid off over two dozen staffers last month, and Forest City Ratner’s parent company has suspended all new development other than Atlantic Yards due to the economy. 

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