Can Affordable Housing Overcome the Odds (Once Again) in New York?

Affordable housing in New York is constantly invoked as an aspiration, rarely as a reality. This is despite the 178,000 units in government-owned or -operated buildings, and despite the hundreds of thousands in private, below-market-rate apartments. A recent book, Affordable Housing in New York: The People, Places, and Policies That Transformed a City, shines a […]

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Selling 1 World Trade Center

If you thought building the $3.8 billion tower was a tall order, just try selling it One World Trade Center sits at the heart of America’s most hallowed ground, a 1,776-foot-tall icon that concretely testifies to the city’s rebirth after Sept. 11, 2001. But as an investment for its owner, the Port Authority of New […]

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US Construction Spending Unchanged in July

WASHINGTON — U.S. construction spending was unchanged in July as weakness in spending on government projects offset gains in home building and the strongest month for non-residential construction on record. Construction spending was flat in July but declines in May and June were revised to show slight gains, the Commerce Department reported Thursday. Spending in […]

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New Study Reveals Best Practices to Help Improve Construction Performance

With 85 percent of owners reporting over-budget construction projects, study sheds light on ways to avoid common industry shortcomings NEW YORK, Aug. 24, 2016 /PRNewswire/ — A new study entitled “Optimizing the Owner Organization: The Impact of Policies and Practices on Performance” has recently been published by Dodge Data & Analytics as part of its […]

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CT and NY construction industries had least economic impact in U.S. in 2015

Connecticut and New York tied for last place in a new report calculating the value added by the private construction industry as a percentage of gross domestic product (GDP) in 2015. According to the Associated Builders and Contractors (ABC), construction in both states accounted for 3.1 percent of GDP, well below the national average of […]

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New York officials want affordable housing…unless it’s inconvenient

Officials block new construction Affordable housing is a major issue in many parts of the country, none less than New York and California. City officials, however, are hindering the road to affordable housing in New York. While they claim they want to improve the housing situation, they seem to only do so when it’s convenient […]

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New York City to Invest $150 Million in Five Parks

Money will go toward new soccer fields, hiking trails and running tracks Mayor Bill de Blasio is expected Thursday to outline plans to spend $150 million to improve five New York City parks, one of the largest investments in the city’s green spaces since the mayor took office in 2014. The money is designed to […]

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LOL! OMG. HUH? Court Finds That Text Message Can Form Binding Contract

In the world of Twitter, Facebook and LinkedIn, it is no secret that individuals are communicating regularly on their smartphones about their business affairs. Recently, a court addressed the question about whether a text message can constitute a writing sufficient under the Statute of Frauds to create an enforceable contract. In St. John’s Holdings, LLC […]

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Schimenti Construction to unveil nine new stores at Grand Re-Opening of World Trade Center

NEW YORK, Aug. 15, 2016 (GLOBE NEWSWIRE) — Schimenti Construction will play a major role in the August 16 Grand Re-Opening of the World Trade Center as the retail construction firm will showcase nine new stores at the launch event. Schimenti Construction served as the general contractor for nine stores in the Oculus, a 78,000 […]

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Top 7 Factors Affecting Labor Productivity Losses On A Construction Project

Construction labor is always in the news. Last month, I wrote an article for the Nashville Business Journal challenging industry leaders on how to respond to the shortage of skilled labor in the area. Recently, the U.S. Department of Labor issued new overtime regulations, which no doubt will affect your workforce. When you deal with […]

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Inception: Every new building and conversion to open since 2013

Map shows new NYC developments as they receive first temporary certificates of occupancy The Real Deal regularly shows you what’s entering the city’s new development pipeline, but now you can see everything that ends up getting built, too. Using the Department of Buildings’ temporary certificate of occupancy — a document that developers need before people […]

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