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New York City’s construction boom went bust. In September 2008, only 3 applications were filed compared to 23 in September 2007. During the same period, all NYC applications were down 30% from 319 to 222. 130,000 people work in the city’s construction industry. Or at least that many did back then.IMPORTANT NOTE: This blog is a quick comment on an older New York City news headline. Unforeseen NYCo website development delays prevented it’s publication before now. For readership continuity, 100’s of older headlines are to be posted in chronological order until this blog is current. Though some of the stories may no longer be as relevant as they once were, they remain interesting news items worthy of this site’s mention and viewer comments.
[This is a copyrighted editorial, originally published on http://www.NEWYORKCITYonline.com/NYC-Online/blog.php. We invite you to post your comments and reply to others! This piece may be duplicated or printed with permission.]
Building in the Big Apple is getting more and more expensive. Prices have risen 32% in just the past three years alone. Blame that on the costs and availability of materials, higher labor rates and the general expense of building in congested areas like New York. What’s more, an office building here will cost twice as much as in Chicago, three times as much as in Atlanta. Don’t expect costs to go down anytime within the next few years either. These higher building costs greatly affect not only office buildings and skyscrapers but large public projects too. Ground Zero, the PATH Transit Hub, the Javits Convention Center’s expansion and the MTA’s Fulton Street Transit Center have all been delayed or scaled down to save money. Mayor Bloomberg is looking to increase bid competition for public-works projects to lower costs. That may help a bit, but increased building in India and China, coupled with less available steel worldwide, may be a building not even our Superman-like mayor can vault.
