NEW YORK CITY—New York City's 105 colleges and universitieswill invest nearly $10 billion on campus construction andfacilities upgrades over a five-year period, accordingto NYC· EDU:Building a 21st Century College Town, a new report from the New York BuildingCongress.
From fiscal year 2013 through FY 2017, the Building Congressforecasts higher education construction spending in New York Cityto reach $9.85 billion. If realized, this would be acontinuation of the nearly $2 billion these institutions haveinvested annually in capital projects over the past three fiscalyears (FY 2010-2012).
“New York City is in the midst of a higher education buildingboom, which is certainly great news in the near term for theconstruction industry and the local economy,” says New YorkBuilding Congress president Richard T. Anderson. “Theseinstitutions are aggressively investing in their futures.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
