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October 20, 2023

Floodgates Are Open For Dispensary Applications, But Headaches Persist For NYC Cannabis Retail

A party was kicking off on a Lower East Side street corner Thursday evening. Passersby stopped to take photos as others lit up joints and nodded along to legendary New York City DJ Funkmaster Flex, who was spinning hip-hop classics as a line was already wrapped around the corner retail space at Orchard and Delancey streets.

Among the crowds, Coss Marte, CEO and founder of Con Bud, the licensed retail cannabis dispensary opening that day, couldn’t take more than two steps without people stopping him to congratulate him. 

“It's been a roller coaster ride,” Marte told Bisnow. “I feel like a whole weight lifted off my shoulders.”

Floodgates Are Open For Dispensary Applications, But Headaches Persist For NYC Cannabis Retail

But it has been an uphill battle for Marte, who was awarded a cannabis retail license in April, and all the other operators of legal recreational cannabis dispensaries in New York.Con Bud is one of just 27 licensed dispensaries now open across the state, more than 2.5 years after…

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WeWork President, COO Heads For The Exit

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Construction’s Lack Of Diversity In Leadership Is Stark. It's Also Holding The Industry Back

Construction’s Lack Of Diversity In Leadership Is Stark. It's Also Holding The Industry Back  

Like others under the commercial real estate umbrella, the construction industry has a diversity problem, with people of color and women underrepresented. But beyond rank-and-file workers, the leadership ranks of construction and contracting reflect the broader lack of diversity, exacerbating other barriers to success.

A significant impediment to addressing the problem is the stark lack of data on the percentage of firms that are Black- or women-led. What statistics are available suggest women and/or people of color who are business owners and executives in construction and contracting are likely as underrepresented as they are in the industry as a whole.

Stats from Associated Builders and Contractors suggest the number of women in management and supervisory roles dropped from 19% in 2021 to 18% in 2022, and the organization’s contractor database suggests roughly 10% of firms are designated as being led by women, minorities or veterans.

The lack of diversity in leadership is especially problematic because without a more diverse class of small-business owners and leaders within construction and contracting, many believe it will be that much more challenging for the industry to recruit more workers and solve its overall workforce shortage. “There's no way that…

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