Paul Bubnyis editor of RealEstate New York.
NEW YORK CITY-Equipment shortages, accelerated schedules and acitywide building boom all help ensure that construction costs inthe city remain high, said a panel of experts convened Wednesday bythe Urban Land Institute's New York chapter. However, the panelistsagreed that these costs could be managed through proactive planningby clients as well as their construction and design teams.
"Nothing beats good planning," said panelist Charles Murphy, SVPand general manager at Turner Construction Co., during ULI NewYork's "Controlling Construction Costs" event held at Club 101. Incommon with other panelists, Murphy also cited more specificstrategies to control costs, which ranged from using design-assistpartners to paying contractors in timely fashion so they don't haveto go to lenders to keep projects going.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
