City plans to pump $1 billion into city infrastructure projects are being radically altered by the affects of Hurricane Sandy, Crain’s reported. Last October, when the stimulus was announced, the funds were intended for waterfront construction, road and bridge repairs and street construction at a time when construction costs were at a relative low. Now with some 70,000 homes in need of repair, the cost of building materials like plywood and drywall has risen nearly 15 percent – making construction more costly for the city.
Moreover laborers are being stretched across thousands of repair projects. “Every union member is working,” Lou Coletti, president of the Building Trades Employers’ Association, which represents 17,000 union contractors, said. [more]