The New York City Economic Development Corporation making the investment to establish New York City as a leading life science market.

Commerce Secretary Gina Raimondo "knows lumber is really a drag on us right now."

JLL says warehouses will need to incorporate charging points, roof hatches or sky lights, or more space outside for drone landing pads to be drone-ready.

The joint venture will provide $1 million to $10 million bridge, renovation and construction loans for multifamily and homebuilding developments.