According to crainsnewyork, CEO and Chairman of Forest City Ratner Bruce Ratner is relinquishing his role as CEO, and Mary Anne Gilmartin, who became executive vice-president in 2007, will replace him. Although it is not clear why or when, one source said Ratner would clearly continue to be involved with Forest Ratner, just more removed from the day-to-day operations. Groundbreaking for Forest City’s Atlantic Yards project, which includes a 32-story modular apartment building, was held Dec. 18, 2012, as MHProNews reported here, part 1 and part 2. Half of the first round of homes of this $5 billion, 363 apartment project will be affordable housing units at below market rates. The complex also includes the home court for the Brooklyn (formerly New Jersey) Nets basketball team.

(Photo credit: Forest City Ratner)