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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 […]

February 10th, 2016|Categories: Better Building, Latest News, Non-Union Projects, Union Pay|

Crains: Union labor for construction is far more expensive than originally estimated

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 […]

Introducing BuildingNYC!

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.

December 21st, 2015|Categories: Better Building, Diversity, Latest News, Non-Union Projects, Site Safety, Union Pay|

Bloomberg: Tishman Construction Admits Cheating Trade Center Clients

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.

WSJ: Around New York Building Sites, a Little-Known Threat

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.