NY's Building Boom

by Virginia Fairweather, Editor; ASCE NEWS, New York, N.Y.,

Serial Information: Civil Engineering—ASCE, 1978, Vol. 48, Issue 11, Pg. 62-65

Document Type: Feature article


A report on a highly visible part of New York City's infrastructure, its buildings. An apparent resurgence of construction activity is underway; over one billion dollars in private investment money is being sunk into hotels and office buildings. The City is helping out with tax incentives and tailor-made financial aid packages through its Department of Economic Development, for one example. In the public sector, some long planned and sizeable projects seem near realization; the –280,000,000 City Convention Center and Battery Park City are just two. Other projects depend on a blend of public and private dollars. The 42nd St. Redevelopment Corporation is one example of privately-spearheaded attempts to rehabilitate a neighborhood. On the housing side, the emphasis is one of preserving viable existing neighborhoods, shoring up those that seem threatened before the problems are too tough to handle. Here too, the City is offering tax incentives and helping to tailor loans and grants to help out private investors and home-owners. But some problems won't be erased for years.

Subject Headings: Commercial buildings | Taxation | Residential location | Infrastructure construction | Investments | Economic factors | Public buildings | Batteries | New York | United States

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