The Rinaldi Group is building the biggest modular-construction hotel project ever built in NYC, using an innovative construction method known as modular construction.
On January 5th, the Associated Builders and Contractors’ Inc. Empire State chapter held it’s “Road Map to World Class Safety” forum in which dozens of developers and contractors from around the New York City area learned how to enhance their knowledge on the benefits of construction safety reform.
Consolidated Edison's Brooklyn-Queens Neighborhood Program is installing its first microgrid aimed at deferring investment in the bulk power grid: a combined battery, fuel cell and solar PV facility at Brooklyn's Marcus Garvey apartments.
The revamped 421-a tax break sets new wage requirements for workers on projects claiming the credit based on their location, in addition to lengthening the abatement period and increasing the required percentage of below-market units from 20% to 25% to 30%.
The New York State Legislature seems closer to calling a special session before the end of the year, potentially bringing a revised 421a to the table.
According to OSHA, the revised regulations will also reflect the latest technology and give employers more flexibility in protecting workers.
Despite proud and glowing announcements by Gov. Andrew Cuomo, the Real Estate Board of New York, and the Building and Construction Trades Council of Greater New York, sources confirmed to The Real Deal that they did not actually reach a consensus on a new deal for the 421a tax abatement last week due to differing interpretations on which projects would qualify.
The recent deal struck between Governor Cuomo, REBNY and the Unions on the 421-tax credit resulted in many questions from the industry. We are monitoring the situation closely and will provide ongoing information, as follows:
From Crain's New York Business: An agreement on 421-a would have to be approved by the Legislature Gov. Andrew Cuomo has brokered an agreement between the city's real estate lobby and the building trades union to revive 421-a, a controversial property tax break for developers that the city and many in the industry believe is [...]
New York City Mayor Bill de Blasio signed off on measures under the Build It Back program that officials hope will streamline the effort to address Superstorm Sandy damage still left unrepaired.