
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.
- ◦Development