Work on the first Atlantic Yards tower, the modular building once known as “B2”, has stopped. Forest City Ratner and contractor Skanska are fighting over unexpected cost increases, The Wall Street Journal reported. The two sides are both pointing fingers at each other.
Forest City claims Skanska has caused the cost overruns through faulty management of the construction process. Skanska blames faulty design of the modules. Atlantic Yards Report has published letters from both sides about the dispute.
Half of the 363 rental units planned for 461 Dean Street, next to Barclays Center, will be affordable. Above, the construction site in June; the building has since risen to about 10 stories. It was originally supposed to open around late 2013 or early 2014, then late this year; the most recent estimate given said construction will wrap in late 2015.
Potentially, Forest City could incur fines up to $5,000,000 for failing to deliver affordable housing by a timetable, but as far as we know, delays on this particular building are not likely to trigger a fine.
The entire Atlantic Yards project was renamed Pacific Park earlier this year.