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 […]
From Crain’s New York Business:
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.
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.
Yet at least once a month on average, a passerby is injured near a New York City construction site by anything from falling bricks, hammers and glass to windblown fences and collapsing sidewalk sheds.
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