Modular Apartments Still Set to Rise in Brooklyn

Following up on a story we published here March 17, Bloomberg reports that Bruce Ratner, CEO and chairman of Forest City Ratner Companies, the developer of the Atlantic Yards in Brooklyn, New York, plans to borrow $100 million to construct the 34-story modular apartment building.  Thirty percent of the 400 housing units will be for low to moderate income tenants.  After fighting in court for the right to build the tower, and defending his project from steelworkers and other union members who claim the modular construction will decrease their employment chances, Ratner plans to start the housing project in December or January.  The master plan calls for 6,400 housing units to eventually be built.

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