New York City construction falls sharply in first half of year

TRD New York /
Aug.August 23, 2011 12:43 PM

Around $6.4 billion worth of construction projects were started in the first half of 2011, a nearly 40 percent decline from the first half of 2010, when construction starts reached $10.6 billion, New York Building Congress’ analysis of McGraw-Hill Construction Dodge data covering January through June shows.

The McGraw Hill data encompasses all new construction as well as alterations and renovations to existing structures.
Construction starts in the non-building sector — bridges, highways and mass transit — fell by 38 percent, from $1.7 billion in the first six months of 2010 to $1 billion during the same period this year. Construction starts in the residential sector dropped to $840 million in the first half of 2011, compared to $1.3 billion in the first half of 2010.

Construction starts in the non-residential sector, which had been aided in 2010 by the start of the World Trade Center Transit Hub, Barclays Arena and the renovation of Madison Square Garden, fell 40 percent — to $4.6 billion from $7.6 billion.

The $1.2 billion expansion of Terminal 4 at JFK Airport was, by value, the largest single construction start during the first half of 2011. The project accounted for more than one-quarter of all non-residential building starts in New York City. — Katherine Clarke


Related Articles

arrow_forward_ios
SL Green CEO Marc Holiday and 420 Lexington Avenue with Scabby the Rat (Getty; Google; SL Green)

Peace prevails: SL Green, Local 79 settle dispute over protests

Peace prevails: SL Green, Local 79 settle dispute over protests
The Northeast is driving gains in building permits and housing starts (iStock)

Northeast drives gains in building permits, housing starts

Northeast drives gains in building permits, housing starts
Housing starts and completions increased sharply in September 2020 in response to fierce demand to buy homes. (iStock)

Housing starts jump as homebuilder confidence rises

Housing starts jump as homebuilder confidence rises
Pandemic may wipe out $16B in construction spending: report

Pandemic may wipe out $16B in construction spending: report

Pandemic may wipe out $16B in construction spending: report
Urban Umbrella CEO Ben Krall and renderings of the startup's scaffolding (Photos via Urban Umbrella)

Urban Umbrella raises $9M for better-looking scaffolding

Urban Umbrella raises $9M for better-looking scaffolding
120 Park Avenue (Google Maps)

Ex-Turner Construction exec cops to bribery charge

Ex-Turner Construction exec cops to bribery charge
Leisure and hospitality led September job gains, but the last employment report before the presidential election shows slowing economy overall (Getty)

Leisure and hospitality gain 318K jobs in September as economic growth lags

Leisure and hospitality gain 318K jobs in September as economic growth lags
US construction spending is up $37.8 billion year-to-date compared to 2019 (iStock)

Housing demand sent construction spending up in August

Housing demand sent construction spending up in August
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...