Aron Kirsch of Moinian Group and Arthur Mirante of Avison Young opened the two-acre construction site at the Hudson Park and Boulevard adjacent to the planned 1,050-foot 3 Hudson Boulevard for a hardhat tour at Hudson Yards today. Read More
Construction of the 178,500-square-foot Pace University dormitory at 33 Beekman Street in the Financial District has reached 22 stories, leaving 12 more to go, Commercial Observer has learned.
The dorm, being developed between William and Nassau Streets by a joint venture of Naftali Group, SL Green Realty and Harel Insurance and Finance, will have 378 housing rooms with 725 beds, said Miki Naftali, chairman and CEO of Naftali Group. Read More
Ladies and gentlemen, meet “The Launcher,” a giant yellow machine that is currently hard at work constructing a prefabricated platform upon which Brookfield Development’s Manhattan West project will rise.
The pictures contained herein, sent exclusively to Commercial Observer, show the custom-designed mechanical marvel that so far has completed one of 16 precast concrete bridge panels Read More
The annual forecast from the New York Building Congress estimates that 2013 construction spending will eclipse the peaks of 2007.
New York City Construction Outlook 2013-2015, completed with support from the New York Building Foundation and assistance from Urbanomics, estimates total construction spending will reach $31.5 billion this year, greater than the previous high of Read More
The city approved a demolition permit yesterday for 98-100 Avenue A, where a 40-unit apartment building will rise above 15,617 square feet of retail space.
East Village developer Ben Shaoul purchased the property last month for $15.5 million. Read More
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
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
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
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
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
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