During my days as a beat reporter, I remember writing about a mixed-use, transit-village project that was being developed by two adjacent towns in central New Jersey. Both municipalities had their own developer, their own design concept and their own separate visions for the station. One town wanted some 500 units of workforce housing, office and retail, while the other pictured a significantly scaled-down version of that. Ultimately, the differences led to litigation and ultimately, no shovel in the ground.

I was reminded of that situation last month when Governor Andrew Cuomo delivered his “State of the State” address. Much attention was given (and rightfully so) to our governor’s bold proposal to overhaul the Javits Center and create a state-of-the-art facility and hotel in Southeast Queens. But at the same time, a crucial piece of legislation—one that slipped underneath everyone’s noses—was passed during the state legislature’s special session that will affect not only city construction projects, but New York State as a whole.

In a bipartisan effort, the legislature passed design-build legislation, a bill that helps streamline the approvals process and helps get projects done faster. It is a concept embraced by 46 other states—and now New York is finally on the bandwagon.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.