NEW YORK CITY-“Today, we will add a new twist to an old ritual,” MaryAnne Gilmartin, EVP of development at Forest City Ratner Cos., told the audience in opening remarks at Tuesday's ceremony marking the launch of construction on B2, the first residential tower at the company's Atlantic Yards mixed-use development. Although this ostensibly was a groundbreaking, Gilmartin said, “you will see no shovels.” Instead, she introduced a prefabricated chassis, one of 930 prefab pieces that will comprise the 32-story B2 at 461 Dean St., the world's tallest modular tower.
Just under 50% of B2's 363 rental apartments will be affordable to low-, moderate- and middle-income households, while the other 182 will be market-rate. The finish on the affordable units, which will be evenly distributed throughout B2, will be identical to that of their higher-rent counterparts, said Bruce Ratner, chairman and CEO of FCRC. “You will not know an affordable unit from a market-rate one,” he said at Tuesday's ceremony.
Nor will the finish on the tower itself, designed by the SHoP architectural firm, suggest something assembled from ready-made pieces, Ratner asserted. “You do not have to compromise on quality when you build modular, and this building will prove that,” he said.
Most of the work on B2 will take place in a 100,000-square-foot fabrication facility at the Brooklyn Navy Yard, where FCRC and Skanska USA are partnering on FC + Skanska Modular LLC. The newly created company represents the first major manufacturing expansion in New York City since the sector began its decades-long decline, said Gilmartin.
Just 40% of the work will be completed on the Dean Street development site, including foundation work and the erection and assembling of the finished modular units. The FCS Modular facility will be used to build the modular components; it's scheduled to ramp up to full capacity next spring. “So it is all being built in Brooklyn, just not all at the site,” said Mayor Michael Bloomberg at Tuesday's ceremony.
The modular techniques will save time and money as well as cutting down on construction-site waste, according to FCRC, which estimates a 70% to 90% reduction in waste. “The modular construction that will be used for B2 and subsequent buildings at the Atlantic Yards has the potential to really change the way cities are built,” Bloomberg said Tuesday, adding that modular “makes construction cheaper, faster and less destructive than ever.” The company is projecting a summer 2014 completion for B2, during which time two other modular residential towers will get under way.
The cost factor was a key motivation for FCRC in what Gilmartin called “a two-year-plus immersion” in studying modular techniques. Both Gilmartin and Ratner alluded to, and disputed, charges leveled by opponents of the project, who claimed that the developer would build the Barclays Center arena and then walk away from its promise to develop multifamily at Atlantic Yards.
“Our commitment to housing never wavered,” Gilmartin said Tuesday, but in the aftermath of the 2008 capital markets meltdown, it was necessary to find a lower-cost, more efficient way to deliver on that commitment. The company opted for modular, although it had never been employed on a comparable scale in the US.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.