Forest City’s Navy Yard modular factory could eventually be used by rivals

May.May 02, 2012 01:00 PM

Forest City Ratner believes modular construction will grow increasingly common in New York City high rise development and that’s one reason the firm has established a modular factory in the Brooklyn Navy Yard, reported. Speaking yesterday at a Real Estate Lenders Association conference, MaryAnne Gilmartin, an executive vice president at Forest City Ratner, said utilizing modular construction for the 34-story, 340,000-square-foot residential building set to rise in Atlantic Yards could cut the construction time of the project by one-third to just 12 months. Even as costs are reduced, the construction method won’t impact future tenants in the rental building, she said.

Those realities will compel more developers to deploy the technique. “The fact is that modular construction is coming,” Gilmartin said.

As a result, Forest City Ratner expects the modular factory it is developing at the Brooklyn Navy Yard to be rented out by competing development firms. For now, approximately 60 percent of the work on the forthcoming tower, which would be the tallest tower in the world constructed with the modular method, is expected to be accomplished in the factory. [GlobeSt]

Related Articles

Former Forest City CEO MaryAnne Gilmartin and P.C. Richard executive Thomas Pohmer with Site 5 at Flatbush and Atlantic Avenues (Credit: Getty Images, IMA Long Island, and Google Maps)

Why nothing ever gets built on this Pacific Park site

MaryAnne Gilmartin (Credit: iStock and Getty Images)

“Conviction and appetite to do it myself”: MaryAnne Gilmartin talks spinoff from L&L

From left: David Levinson, MaryAnne Gilmartin and Rob Lapidus

Gilmartin splitting from Lapidus, Levinson

L&L MAG CEO MaryAnne Gilmartin, 44-02 Vernon Boulevard in Long Island City and Douglas Durst (Credit: Google Maps)

Durst deadlocked with owners of prime LIC site

205 Park Avenue (Credit: Google Maps)

Developer files plans for mixed-use project facing BQE

The state of new development, according to those who build and sell it

The state of new development, according to those who build and sell it

The Allwood Solvalla cabin kit (Credit: Allwood Outlet and iStock)

Tiny home on Amazon goes viral, sells out

From left to right: Elizabeth Ann Stribling-Kivlan (president of Stribling & Associates), developer Michael Shvo, MaryAnne Gilmartin (CEO of L&L Mag), Vishaan Chakrabarti (founder of PAU Studio) (Credit: Emily Assiran)

Developers and brokerage heads riff on Stribling sale, condo pricing and myths about Billionaires’ Row at TRD forum