BuildingNYC, a coalition of 12 “merit-based” developers and contractors, is partnering with the Associated Builders and Contractors, a national federation of nonunion companies whose members provide training in the trades.
Key program to produce affordable housing is losing out to myopic and selfish pleading by organized labor
The Real Deal: Just kidding: IBO corrects its 421a report, says prevailing wage requirement would actually cost city $4.2B
From The Real Deal:
The Independent Budget Office says it botched a recent report on affordable housing by drastically underestimating the impact of requiring prevailing wages on projects benefiting from the 421a property tax break.
Such a union-friendly requirement would cost the city an additional $4.2 billion in financing to keep up with Mayor Bill […]
IBO rechecks its data and says the added burden is a whopping 23%
Using union labor to build affordable housing under the mayor’s ambitious program will be almost twice as costly as previously estimated.
The bottom line: 23% more, or $4.2 billion, which works out to $80,000 per unit.
In January, the […]
BuildingNYC is an association that represents those workers doing the majority of the building in NYC today, especially affordable housing. Comprised of a diverse workforce from across all sectors of the NYC construction industry, we seek to protect and advocate for the right to work in a safe, fair and equitable environment that promotes continued job growth and economic success.
The union’s white members have received more work and larger pensions, data show. In contrast, minority members, who have lagged for decades, often struggle to find steady jobs and to earn enough credit to retire on time with full pensions.
While white workers in unionized construction make $29.44 per hour on average, black workers make $23.70. That’s almost 20% less than their white colleagues.
Tishman Construction Corp., builder of One World Trade Center in New York’s financial district, admitted to an overbilling scheme spanning a decade and agreed to pay $20 million in restitution and penalties.