New York is an expensive city—anyone who’s breathed air within the five boroughs knows this. But when it comes to reconstructing and expanding its 200-plus miles of subway tracks, Gotham reaches a whole new level of pricey. Why NYC subway construction is so expensive? When compared to similar transit projects in other cities across the country and world, […]
The New York City construction industry would likely escape the worst effects of a tariff on foreign steel that was proposed by President Donald Trump last week, according to experts interviewed by Crain’s. Trump floated the idea of slapping a 25% tax on steel and 10% on aluminum produced abroad during a meeting with industry executives. […]
More than five years after Hudson Yards got its groundbreaking, the megaproject has reached another milestone: According to developers Related Companies and Oxford Properties Group, 15 Hudson Yards, the complex’s first residential building, has topped out. The building, designed by Diller Scofidio + Renfro in collaboration with Rockwell Group, stands 917 feet tall—not quite hitting supertall status, […]
EW YORK CITY—New York has more than 60,000 units under construction and that’s the most out of any city that CoStar Group tracks. Even with the Big Apple growing at a rate of 50,000 people per year, due to construction, the vacancy rate of apartments has stayed approximately the same—never exceeding 4% or going much […]
After a downturn in 2016, the dollar volume of construction starts in 2017 rebounded in New York City, helped by a surge in public works and institutional projects across the five boroughs. The Big Apple saw $37.78 billion worth of projects commence across all categories—residential, non-residential and non-building construction (which includes roads, bridges, tunnels and […]
New York City’s construction industry still has a lot of work to do to become more diversified. In fact, the composition of its workforce is moving in the wrong direction. The number of minority construction workers (those that identified as black, Hispanic or Asian) decreased by 5.4 percent to 147,917 employees in 2016 compared with […]
