Construction

By Daniel Geiger 8/14/12 7:00am

Battery Maritime Building, an EB-5 recipient

EB-5 Legislation Clears Senate, Now Congress Awaits

Legislation related to the EB-5 Immigrant Investor Program, a financing pipeline that has been used to fund several major development projects in the city, has cleared one hurdle towards renewal.

Last week, the U.S. Senate passed a bill that would restore an important component of the program set to expire at the end of September. According to people familiar with EB-5 and the legislative process to preserve it, a similar bill must now pass through Congress in the next few weeks before the program sunsets on September 30, a deadline that could possibly cut off millions of dollars of financing for a number of construction projects. Read More

By Carl Gaines 8/09/12 2:52pm

Construction

NYBC: Construction Among Institutions, Especially Schools, Slows

New York City’s higher learning institutions as well as its public schools have recently seen a sharp decline in new construction projects, according to a report released Thursday by the New York Building Congress.

The report, based on NYBC’s analysis of McGraw-Hill Construction Dodge data, charts a 41 percent decline in projects undertaken by public and private institutions in the city—down to $704 million in the first half of 2012 compared to the same period a year earlier. Read More

By Daniel Geiger 8/07/12 4:19pm

Construction

After Missing Tappan Zee Project, Dragados Looks To Regroup

It wasn’t the splash Chris Ward was hoping Dragados would make in New York, a state where the Madrid-based construction company had aimed its recently-hatched aspirations at dramatically growing in the U.S.

In recent weeks, the firm had to withdraw late in the months-long bidding process to build one of the biggest infrastructure projects in the country, a $5 billion dollar replacement for the Tappan Zee Bridge in Westchester – a project that has triggered outcry for the $14 round trip toll state officials say the new bridge would have to charge, a dramatic increase over the current $5 fee. Read More

By Daniel Geiger 7/31/12 10:29am

The Lobby Construction

Chris Ward Named To Building Congress Board

Chris Ward was named a member of the New York Building Congress’s board of directors, the powerful industry group announced this morning.

Mr. Ward served as the Port Authority’s top New York executive for three years before leaving the large transit and infrastructure agency last year to become an executive in the Manhattan office of Dragados, a large Madrid-based construction firm. Read More

By Daniel Edward Rosen 4/02/12 2:37pm

Construction

Construction Spending Down 1.1 Percent in February: US Census Bureau

Construction spending across the country dropped by 1. 1 percent in the month of February, according to a Spending for the month of February was at $808.9 billion this year, a drop from the $818.1 billion spent during the month of January, the report said.

Despite the drop, the amount spent on construction was markedly Read More

By Daniel Edward Rosen 12/15/11 6:51pm

Construction

Foursquare Begins Office Renovation

Construction started today at Foursquare’s future 56,000-square-foot Soho office, rounding out a year of new horizons and new funding—to the tune of $50 million—for the location-based startup. Read More