NEW YORK CITY-2013 is poised to be a year of growth—on the construction front. A new study by the New York Building Congress—conducted with the analysis of McGraw-Hill construction dodge data—$7.9 billion worth of construction projects were started in New York City in the first half of 2013, a 10% increase from the first half of 2012, when construction starts reached $7.2 billion.
In another sign of increased building activity, the Building Congress found that $16.8 billion in projects were started in all of 2012, a nearly 10% increase from 2011, which saw $15.3 billion in construction starts.
“Our forecast is that 2013 will be a strong construction period; with 2014 coming in even stronger,” Richard Anderson, president, tells GlobeSt.com. “Looking at building permit data and other research we evaluate, everything looks positive in virtually all construction sectors. We're predicting $37 million in construction starts next year, bringing us back to peak levels.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
