News
CONSTRUCTION JUMP
March 8, 2011
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| Back across the river, New York City saw $19.5B worth of construction projects begin in ’10 (like the groundbreaking for the $500M mixed-use development that will house modern facilities forPS 59 and the High School of Art and Design at 250 E 57th St, above)—a 15% increase from the previous year, but still 5% below ’08, when construction starts reached $20.6B, according to New York Building Congress’ analysis of McGraw-Hill Construction Dodgedata. The increase was a direct result of gains in the non-residentialbuilding sector, which saw a 34% jump; residential and the public works sectors, saw respective 14% and 9% declines. Even so, infrastructure spending is far and away the largest source of construction activity in NYC (recently surpassing Sandy Alderson's attempts to rebuild the Mets). |
