The New York City building boom shows no sign of slowing down, and the industry is faced with a profound challenge: making sure there are the people to fill the jobs in the years to come. Construction spending is set to reach $61.8B by the year’s end, according to the New York Building Congress. Employment has […]
Today’s real estate development landscape is undergoing unprecedented shifts. Labor shortage, technology, rising interest rates and the trade tariffs are some of the biggest catalysts for change. In recent years, construction costs have gone up and the rise is expected to continue due to the limited land supply. For some projects, other factors such as unforeseen […]
Gov. Andrew Cuomo unveiled several new details about the upcoming transformation of John F. Kennedy International Airport, most notably the creation of two new terminals that will replace some of the existing terminals, and rise on the northern and southern end of the complex. The cost of this revamp has gone up from the $10 billion […]
New York’s city council is moving to enact a law to deter landlords from falsifying construction permit applications for building renovations in an effort to drive tenants out of rent-controlled apartments. The tactic has drawn increased scrutiny after the city fined Kushner Cos., the family business of President Donald Trump’s son-in-law, Jared Kushner, for allegedly engaging […]
A crane in New York City dropped steel beams onto scaffolding on West 34th Street and 12th Street at the Javits’ Center just before 10 a.m. Tuesday. No injuries have been reported, said Cadet Taylor Cannon, of the New York City Police Department. Cannon said the crane does not appear to be in danger of […]
Nearly seventeen years after being destroyed in the terrorist attacks of September 11, 2001, the WTC Cortlandt subway station has finally opened to the public. The station will now be a stop on the No. 1 line and has been renamed WTC Cortlandt as a nod to Cortlandt Street, the street upon which the World […]
One out of five dwelling units currently under construction in New York City is in a hotel. That’s the highest proportion since 2013, according to an analysis by The Real Deal. This milestone reflects a combination of several factors. As the volume of active apartment construction has slowly trended downwards over the past two years, hotel […]
If you’ve ever wondered exactly how many new buildings are going up in New York City at any given moment, we have good news—a new interactive map from the Department of Buildings is here to help. The Active Major Construction map, which the DOB launched on Tuesday, gives a broad overview of the newest and biggest construction […]
