Construction on the $714-million project is expected to begin in 2022. The new pavilion that will total 438,000 square feet of usable space, will feature nine floors of cutting-edge technology and a design to provide patients and families with world-class acute care.
The real estate investment firm received an $80 million loan secured by the Times Square property.
Non-optimal activities, limited technology use and labor issues continue to plague the construction and logistics industries, with the former accounting for $177.5 billion in US labor costs per year.
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