Nearly 900 apartments will be built, with 200 rated affordable, in Alloy Development's five-building project at 80 Flatbush in downtown Brooklyn. The development will use two existing structures from the mid- to late 19th century and build three new ones.
New York City's commercial property market has been softening steadily for two years, but the trend may be on the verge of reversing. Brokers point out that contract signing picked up in the fourth quarter and newly enacted corporate tax cuts could give the economy a boost.
Rezonings and fresh policies to generate more housing and commercial space are called for in a plan for the coming century put forward by the Brooklyn Chamber of Commerce on its 100th anniversary. Will Bredderman examines four of the plan's key proposals designed to preserve and extend the borough's cool and welcoming environment.
Looking to fill in New York's scattered vacant lots with housing, the city has invited a list of developers to build about 500 affordable homes. The latest selections in the city's New Infill Homeownership Opportunities Program will be working on projects in several newly designated clusters.
City Comptroller Scott Stringer decried New York City's lack of progress in opening vacant lots it owns for affordable housing development, saying nearly 90% of its hundreds of lots remained undeveloped between September 2015 and September 2017. But the de Blasio administration and Department of Housing Preservation and Development dispute his figures, pointing to more being development than Stringer counts and noting that 30% of the lots he mentions are in flood zones.
Google has reached a tentative deal that would allow it to significantly expand its planned 250,000-square-foot lease at Pier 57. Another 70,000 square feet would be devoted to offices and 50,000 square feet to public space, including portions for harbor views and educational and community events.
A recent survey of more than 330 construction contractors showed that a growing number are using technology to enhance worker and site safety. The survey, conducted by Dodge Data & Analytics in partnership with the Center for Construction Research and Training, showed that drones, laser scanning and wearable devices were among the top safety aids used.
Velocity Robotics says it has developed a robotic miter saw accessory that can make cuts 50% faster. The technology could save two or three days on a five- or six-week construction project, founder Brad Kriel said.
President Donald Trump said he is open to counterproposals from Congress to his infrastructure plan. House Transportation and Infrastructure Committee Chairman Bill Shuster, R-Pa., said Congress must find a way to pay for the proposal rather than simply increasing the debt.
A $30 billion Gateway Tunnel proposal to expand and refurbish the Amtrack link between New Jersey and Manhattan would not receive necessary federal funding under President Donald Trump's proposed $200 billion infrastructure plan. His proposal looks to state and local governments and private investment to fund 80% to 90% of project costs.
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