Sandy repairs could cost $1M a home in Queens

De Blasio administration plans to allocate $500M to completing overbudgeted Build It Back program

TRD New York /
Sep.September 22, 2016 08:42 AM

How much does it cost to rebuild a home damaged by Super Storm Sandy? It appears the costs could reach about $1 million a home in low-lying areas of Queens.

According to the Wall Street Journal, Tishman Construction, which is overseeing hundreds of homes for the federal Build It Back program, submitted bids to the city to elevate 53 homes damaged by Sandy in Queens. The bid? A fat $50 million.

The massive cost overruns in the federal Build It Back program have spurred the de Blasio administration into moving $500 million in federal funds that were earmarked for storm-protection program toward repairing and elevating homes damaged in Sandy.

“Our goal is to invest and create resilient neighborhoods, and we’ve identified additional needs to accomplish this goal,” Raul Contreras, a spokesman for de Blasio, told the Journal.

City officials will be asking Tishman to negotiate the costs with contractors. A source told the Journal that it likely won’t reduce the bid by more than 20 percent.

Part of the reason for the ballooning costs can be attributed to the location of the homes, where a complicated anchoring system is needed to build foundations underground, officials told the Journal. [WSJ]James Kleimann

 

Related Articles

arrow_forward_ios
Fairway at 480-500 Van Brunt Street in Red Hook and the O’Connell Organization's Greg O’Connell (Credit: Google Maps)

Fairway landlord: Private-equity owners ruined Red Hook store

Fairway landlord: Private-equity owners ruined Red Hook store
Mayor Bill de Blasio and subway damage caused by Hurricane Sandy (Credit: Getty Images)

Program to rebuild Sandy-damaged homes needs extra $92M

Program to rebuild Sandy-damaged homes needs extra $92M
Army Corps of Engineers Commander Lt. Gen. Todd Semonite and flooding caused by Hurricane Sandy in 2012 (inset) (Credit: Getty Images)

A $119B seawall still might not protect Manhattan, critics say

A $119B seawall still might not protect Manhattan, critics say
Plans for NYC’s storm-surge barrier raise environmental concerns

Plans for NYC’s storm-surge barrier raise environmental concerns

Plans for NYC’s storm-surge barrier raise environmental concerns
Hamptons Cheat Sheet: Hamptonites spend big to secure properties amid MS-13 fears … & more

Hamptons Cheat Sheet: Hamptonites spend big to secure properties amid MS-13 fears … & more

Hamptons Cheat Sheet: Hamptonites spend big to secure properties amid MS-13 fears … & more
Coney Island Hospital moves forward with $738M renovation plan

Coney Island Hospital moves forward with $738M renovation plan

Coney Island Hospital moves forward with $738M renovation plan
After Sandy, buildings flood city’s most vulnerable neighborhoods

After Sandy, buildings flood city’s most vulnerable neighborhoods

After Sandy, buildings flood city’s most vulnerable neighborhoods
Developers are soaking NYC’s waterfront areas with new construction

Developers are soaking NYC’s waterfront areas with new construction

Developers are soaking NYC’s waterfront areas with new construction
arrow_forward_ios

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

Loading...