The NY Times writes the obituary for NYC's building boom. The Building Trades Employers’ Association's data shows that $5 billion in projects, including "luxury high-rise buildings, office renovations for major banks and new hospital wings," has been canceled or delayed due to the credit crunch. Developers are having a hard time looking for loans—though some projects are still eagerly anticipated, like ones along the High Line from Jean Nouvel and Annabelle Selldorf—and others who do have loans are having trouble paying them back. One developer "who has built roughly 4,500 condos and moderate-income housing units in all five boroughs..is shifting his attention to projects like housing for the elderly on Staten Island, which the government seems willing to finance." Continue reading "NYC's Building Boom is Over"
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add to facebookAs the Department of Buildings, Manhattan DA's office, and OSHA investigate the fatal May 30 crane collapse at East 91st Street and First Avenue, the crane's history continues to be a focus.
Yesterday, the assistant chief inspector for cranes was arrested and charged with accepting bribes "to falsify inspection reports and overlook unqualified operators." Upon leaving court, James Delayo, 60, who is a 26-year veteran of the Department of Buildings, did not respond to when a street sweeper asked him "if he felt responsible" for the fatal crane collapses in recent months.
Friday's fatal crane collapse at East 91st St. and First Avenue was a horrible shock, but the sad truth is that neighborhood residents had been worried about the crane for a while.
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