Which borough has most projects?
What are the biggest projects in NY?
Described as New York's largest urban development since Rockefeller Center, Hudson Yards is a $20 billion mega project on Manhattan's West Side that will create a new neighbourhood of residential and office skyscrapers, schools, hospitals, retail spaces, parks, cultural venues and public art – masterplanned by Kohn
What is the construction outlook in New York City?
New York City's construction market is expected to see a steep decline this year – spending almost 10% less than in 2023. We expect the market to remain well below its pre-pandemic levels for the foreseeable future. Supply-chain issues and high escalation have made their mark and have kept costs high and spending down.
Where is construction booming in 2023?
“Some of the areas that are really growing are nonresidential—manufacturing, transportation, lodging, and highway infrastructure,” says Hunt. “Verticals such as single family residential, home improvement, power infrastructure, and offices are expected to be down and will be more challenging.”
What is the construction outlook for NYC 2023?
The New York Building Congress forecasts $83 billion in New York City construction spending by the end of 2023. This represents development growing $13 billion in inflation-adjusted dollars year-over-year.