Kenneth F. Bernstein, president and CEO of the White Plains,NY-based real estate investment trust, told participants at theCitigroup 2007 Global Property CEO Conference in Naples, FL thathearings on the project are expected to begin within 30 days.
Calling the hearings "a major hurdle" to the project, Bernsteinsaid Acadia plans to move quickly with construction once the citygrants approval.
"They're very focused that this gets done correctly," Bernsteinsaid of city officials. "On the political side, we do a lot ofhomework," he added. "That doesn't mean you don't have politicalrisks. Assuming you cover the bases, that you do thingsthoughtfully, New York City can be, in some ways, a morestraightforward place to develop."
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