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Manhattan's construction starts are valued at $7 billion

Manhattan Construction Volume Trends Upward Despite COVID

Despite a decrease in new projects due to COVID-19, Manhattan construction activity is on an upward trend, the New York Building Congress reported. Construction Outlook Update – Manhattan Snapshot values the borough’s construction starts at $7 billion, a $1-billion increase since 2020, with current potential projects in the pre-design, design and bidding phases valued at $29.5 billion. 

“New York City’s building industry, which employs hundreds of thousands of people, showed its true strength and resiliency over the past two years, and we aren’t slowing down in 2022,” said Carlo A. Scissura, president and CEO of the Building Congress. “We’ve seen the way the industry kickstarts economic growth and puts New York City on pace for an equitable and robust recovery in the face of extreme hardship.  

“We are ready to bring the nearly two million New Yorkers in Manhattan the high-quality infrastructure, housing and public space they deserve,” he continued.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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