The New York City Council agreed to rezone a 22-block Far Rockaway's downtown for new retail, community space and affordable apartments and intends to spend $126 million on the area, hoping to attract new retailers. Meanwhile, rezoning in Staten Island creates a Special Coastal Risk District, and any reuse of land will be restricted to creating open spaces.
New York City property buyers have become more cautious about purchases, particularly in light of some sellers' unrealistic price expectations, according to a survey of brokers by the Real Estate Board of New York. While confidence in residential and commercial real estate remained in positive territory, expectations for the residential rental and commercial leasing markets slipped below four on the index, where a reading of five or above is positive.
Community boards must decide by the end of next month on a proposal to rezone Jerome Avenue in the western Bronx provided by the de Blasio administration. The idea faces stiff opposition from a variety of groups complaining that the plan will worsen displacement while failing to provide good local jobs.
A number of developers are taking up the additional burden of being their own general contractors in a bid to cut costs. Doing so comes with risks associated with insuring workers and assuming responsibility for site accidents, but it helps create relationships between subcontractors and developers that assure quality work.
The White House is still committed to passing tax-reform legislation this year, Treasury Secretary Steven Mnuchin says, though the Trump administration is open to backdating tax cuts to 2017 if a bill does not pass until 2018. Mnuchin also says he is open to attaching legislation on infrastructure spending to a tax-reform bill.
A survey by HNTB Corp. showed that 84% of Americans would support tax increases or tolls if the money was only spent on infrastructure. The survey also found that 73% support public-private partnerships and eight in 10 respondents support tolling existing roads.
Insurers' losses caused by hurricanes Harvey and Irma could mean pain for property owners, even in New York City. "When a catastrophe like a hurricane like this hits and insurance companies pay out high claims, their reserves go down, which ultimately forces them to increase insurance rates across the board -- meaning even in New York -- in order to increase the reserves again," said Izzy Green, CEO of the New York-based Evergreen Insurance and Risk Management.
Union carpenters and contractors are present from start to finish in construction. Our trades of work include foundations and concrete, walls and ceilings, floor covering, woodwork and cabinets, millwrights, hoists and scaffolds, heavy construction, dockbuilders and timbermen, and trade shows. Learn more about our trades of work.
Take a look at this short video introducing you to union trade show carpenters and contractors. These skilled professionals erect prefabricated exhibits and build custom exhibits for trade shows at the Javits Center, area hotels and other venues. They engage in floor layout, pipe and drape work, carpeting, booth maintenance, and rigging of signs for exhibits. The Javits Center is the busiest convention center in the U.S. It hosts 175-plus events a year and generates $2 billion of economic activity. Union trade show carpenters and contractors make it possible.
I would rather work with five people who really believe in what they are doing ... than five hundred who can't see the point.