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NYBC: Construction Spending is Back

NEW YORK CITY—Activity by builders has risen to the level of its previous peak, GlobeSt.com reports in this first article of two on a new report.

By Rayna Katz | Updated on October 28, 2015

NEW YORK CITY—A super-healthy residential market and the strongest level of office construction in a quarter century have dovetailed to bring the city’s construction activity back to peak levels.

The metric has reached the heights achieved at the peak of the previous building boom in 2007 and 2008, according to New York City Construction Outlook 2015-2017, an annual forecast and analysis prepared by the New York Building Congress with support from the New York Building Foundation.

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