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July 31, 2008
Relief is sought as building costs soar
MetroNY
by Amy Zimmer
The New York Building Congress, of which Forest City Ratner is a member, released a report stating that New York is "one of the most expensive places to build in America."
The report looks suspiciously like a plea for the City to cater to developers as it includes such remedies as rezoning “idle or derelict industrial land.” This sounds uncomfortably like the scheme used by the State for the proposed Atlantic Yards project, where a working railyard and surrounding neighborhood were labeled as "blighted" to allow a land grab by Forest City Ratner.
The report mentions specific projects that the construction industry would like to go forward:
Already such big projects as the Javits Convention Center and the Fulton Street Transit Center have been scaled back because cost estimates far exceeded original estimates. The construction industry is concerned considering other big projects on the drawing board — the Second Avenue Subway, World Trade Center, Moynihan Station and Atlantic Yards.
Posted by steve at July 31, 2008 5:56 AM