NEW YORK CITY-Construction spending citywide, which peaked at $31.1 billion in 2007 and fell as the downturn took hold, will rise again next year and bump back up to $28.6 billion in 2012. That’s if the Metropolitan Transportation Authority’s capital projects program for fiscal ’12 is fully funded—a big “if” at the moment, the New York Building Congress’ Richard T. Anderson said Tuesday. The agency’s five-year capital program is only funded through 2011.

Assuming that the funding comes through, the MTA’s projected $4.1-billion increase in construction spending for ’12 represents 14% of all spending forecast for that year, the Building Congress says in its “NYC Construction Outlook 2010-2012” report. For that reason, said Anderson, president of the Building Congress, priority number one for all stakeholders is securing additional funding for the transit agency’s capital plan.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.