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NYC Will Restart $17B in Capital Projects

On the one-year anniversary of New York City’s first report of a COVID case, Mayor Bill de Blasio announced that the city would be restarting $17 billion in capital projects across the five boroughs. Among the priorities de Blasio discussed at a news conference Monday were school construction and ramping up the city’s affordable housing program.

“The future of New York City depends on working New Yorkers having someplace to live that they can afford,” said de Blasio. “We’re going to get back to it. We already have the biggest affordable housing plan in the history of New York City on target.”

Other capital spending areas cited by the mayor included coastal resiliency projects, improvements to the city’s streets and increased investment in parks. “So, that $17 billion is going to make a huge impact and help New York City come back strong,” de Blasio said Monday.

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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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