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Building Congress Says Construction Down in City

NEW YORK CITY-Numbers released by the New York Building Congress show that construction last year was down 12%, a trend not likely to be buoyed by development, Richard T. Anderson, the group’s president, says.

By Carl Gaines | Updated on April 28, 2011

NEW YORK CITY-The New York Building Congress reported Wednesday that construction spending in the city for 2010 was down 12% compared to 2009. Last year saw spending at $23.7 billion.

While construction spending looks bleak, signs point to an increase in development. Massey Knakal, for instance, reported that sales of development sites for Q1 2011 hit $29.8 million in Brooklyn, a 157% increase over the same quarter last year.

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