Statement from The City University of New York

In 2004, Forest City Ratner Companies (FCRC) was selected by The City University of New York (CUNY) as its partner to develop a mixed-use project at New York City College of Technology on Jay Street in Downtown Brooklyn. The project included a 340,000 square foot academic building for the College as well as a residential tower to be built by FCRC and designed by the world-renowned architect Renzo Piano in conjunction with Perkins Eastman Architects.

Through this productive collaboration over the course of a few years, it has been determined that the timing and other complexities associated with developing such a mixed-use project could not be reconciled with the College’s immediate need to move forward with a first class academic space to serve its growing student enrollment.

CUNY and FCRC have mutually agreed to an amicable end to the partnership. CUNY will develop a first class academic space for the College in cooperation with the New York State Dormitory Authority and without a private developer. Such an approach will ensure that the much needed academic facility will be brought on-line in the most cost effective and timely manner.