Real Estate Wire: SHoP’s B2 Modular Tower Runs Into More Problems; It’s Cheaper to Buy Than Rent

Posted On Tue, September 2, 2014 By

Posted On Tue, September 2, 2014 By In Real Estate Wire

  • It’s cheaper to buy than rent in a number of US cities. [Business Insider]
  • Forest City is suing Skanska over the Pacific Park (formerly the Atlantic Yards) B2 modular tower. Skanska issued a Stop Work Order last week over cost overruns, and Forest City is now countering with a lawsuit saying Skanska agreed to a “fixed price” and any issues are due to the builder’s own “failures and missteps”. [Curbed]
  • The New York Times Editorial Board is in favor of cutting deals with private developers if it means bringing more affordable housing stock to NYC. [NYT]
  • The New York City Department of Transportation breaks ground on the second phase of Fordham Plaza’s reconstruction in the Bronx. Grimshaw is the architect behind the design. [Architect’s Newspaper]
  • Op-ed: Brooklyn Bridge Park can be maintained without building any of these 14 new high-rises on the park. The park is poised to come into as much as $200M when tax breaks expire starting 2018. [NYDN]
  • Developer Aby Rosen Instagramed an image of what the interiors of the Norman Foster-designed 610 Lexington Avenue will look like. [Curbed]

Images: B2 (left). Image by Field of Schemes; Manhattan aerial (right). Image Wiki Commons

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