Solution

Forest City is the managing partner of this PPV and will handle resident matters including management and maintenance. The partnership entails a ground lease through which Forest City will manage the property for the next 50 years.

“This is a huge process; teamwork between property management and maintenance, along with development and construction is vitally important,” said John. “This will be an ever-changing project for the next 50 years.”

Some of the residents may have to be relocated during the construction process; however, the end result will prove to be well worth the inconvenience.