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Old June 24th, 2007, 01:40 AM   #1301
TalB
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http://www.nysun.com/article/57033
Construction Costs Could Rise as Mega-Projects Increase Demand

By ELIOT BROWN
Special to the Sun
June 21, 2007


Konrad Fiedler

Almost 50 million square feet of publicly administered development are scheduled to start in the next few years, increasing the demand, and the cost of building, materials. Above, the Freedom Tower site.


Developers could see construction costs rise at an even faster rate in coming years, as the city's megaprojects substantially increase demand on a sector already flooded with work, industry officials say.

With prices escalating for building materials, this could test the strength of the historic construction boom, which has persevered despite the rising expenses.

"The demand is going to get much greater, and we have to do a lot of work to do everything we possibly can to moderate the effects of increasing levels of construction," Deputy Mayor Daniel Doctoroff said yesterday. "Everywhere, we feel the impact of rising construction costs — that's the big public projects, it's the private sector projects."

Spending on construction has reached all-time highs for the past three years — the New York Building Congress estimates that spending exceeded $24 billion in 2006 — even though the bulk of the city- and state-administered large-scale projects conceived in the past decade have yet to begin, most of which are scheduled to start in the next two to three years.

Between the World Trade Center, Moynihan Station, Atlantic Yards, the Hudson rail yards, and Willets Point in Queens, almost 50 million square feet of publicly administered development are scheduled to start in the next few years — the equivalent of about 20 Empire State Buildings going up at the same time. Add to that the more than $12 billion projected for the no. 7 line subway extension, the first phase of the Second Avenue subway, and the Trans-Hudson Express project for a new NJ Transit tunnel to Pennsylvania Station, and the flurry of activity is sure to drive up the need for construction workers and materials, likely causing prices to jump.

"As you have all this work going on, there's an increased economic pressure on labor," the assistant executive director of the General Building Contractors of New York State, Joseph Hogan, said. Wages of unionized construction workers tend to be steady for years at a time due to bargaining agreements, though Mr. Hogan said the trend in wages will surely be sent upward by the city's big projects in coming years.

The industry is already seeing a shortage of project managers, a problem that will be exacerbated in coming years, according to the president of the Building Trades Employers Association, Louis Coletti. "You can't manufacture a project manager overnight," he said.

The spike in development could send local prices for construction materials such as concrete up as well, the chief economist at the Associated General Contractors of America, Kenneth Simonson, said.

Already, developers and public agencies have been socked with soaring expenses for construction, as demand from rapidly expanding markets in India and China has caused skyrocketing prices of materials such as copper.

Total construction costs have gone up by as much as 1% a month, builders say, pushing developers to move briskly and forcing public agencies to scale back plans for new buildings.

"Every month-delay that we have, we estimate that we have a $9.5 million escalation hit," the chief of administration for the $1.8 billion United Nations Capital Master Plan renovation project, Vivian van de Perre, said.

For private developers, construction officials say, project price tags are sent up even further by the city's rapidly rising land values, which, like raw material costs, show no sign of slowing their growth.

With a mind to future price hikes, a spokesman for the Port Authority of New York and New Jersey, Steven Coleman, said the agency has already handed out about $1 billion in contracts for the $2.8 billion Freedom Tower.

"We're trying to award contracts as early as we can," Mr. Coleman said.

While the towers at the World Trade Center site are generally on budget, plans for the Santiago Calatrava-designed PATH transit hub are estimated to cost as much as $1 billion more than the $2.2 billion planned for the facility, and the Frank Gehry-designed Performing Arts Center has been repeatedly scaled back as its price tag has climbed hundreds of millions over budget.
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Old June 24th, 2007, 03:10 AM   #1302
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All of these megaprojects are going to put NYC to the test. I'm sure this megaproject will get done without problems. The amount of construction on Manhattan Island will be more than anywhere else ever in American history. This boom will bring many modern supertalls to NY. Let's hope Foster gets involved.
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Old June 25th, 2007, 05:50 PM   #1303
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I like this tower, one of the best design I've ever seen, I can't wait!
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Old June 25th, 2007, 06:19 PM   #1304
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Hope it will rise fast.
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Old June 25th, 2007, 06:35 PM   #1305
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Quote:
Originally Posted by Ebola View Post
All of these megaprojects are going to put NYC to the test. I'm sure this megaproject will get done without problems. The amount of construction on Manhattan Island will be more than anywhere else ever in American history. This boom will bring many modern supertalls to NY. Let's hope Foster gets involved.
They will all eventually be built, but we will probably see this building finished in 2015 at the rate which it's going up. Lets just hope that there are other projects out there which are equally as good and will rise at a faster rate.
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Old June 25th, 2007, 10:31 PM   #1306
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i'm 90% sure that once foundations work is done, it'll rise just as fast as any other building of it's magnitude
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Old June 25th, 2007, 11:25 PM   #1307
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i've the feeling the webcam has a problem again......it is 16:15 now in NY and the webcam show me a dark pic
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Old June 26th, 2007, 12:23 AM   #1308
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Quote:
The Freedom Tower Construction Video
640x480
Updated through 6/25
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Old June 26th, 2007, 12:24 AM   #1309
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its taking too long
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Old June 26th, 2007, 01:10 AM   #1310
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Foundations take time. If this is too much to handle, just wait about 6 months before you visit the thread again. When you return you'll definately see progress being made.
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Old June 26th, 2007, 01:25 AM   #1311
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Quote:
Originally Posted by mudvayneimn View Post
Foundations take time. If this is too much to handle, just wait about 6 months before you visit the thread again. When you return you'll definately see progress being made.
Why would a foundation take a while? It's not like they have to hold 500 million pounds or anything. Oh wait.....
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Old June 26th, 2007, 01:36 AM   #1312
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Hey progress is progress.

Although its little slow even compared to other skycrapers in USA, I think people are expecting BD/SWFC-type of construction with 1 floor/3 days.

But yeah, its still gonna be quite a good bit till we actually see the core go above street level.
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Old June 26th, 2007, 03:25 AM   #1313
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I'll be the first person on floor 102. I can't wait to see how her top is going to light up; it will look cooler than the Empire State Building at night for sure.


And that's the older version. Looks amazing.
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Old June 26th, 2007, 08:19 AM   #1314
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I was actually glad when the webcam was down. In that brief period of absence, there was a glimmer of clarity. I thought, 'how in the world are you going to measure progress of such a beast tower by checking that friggin' camera every other hour?' I hoped it would be down for at least a month. Now that it's back up, I see that nothing has changed today. I'm back in my old mindset. Damn EarthCam.
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Old June 26th, 2007, 10:44 AM   #1315
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well if you don't like the earthcam or the progress on the FT stop watching the cam than. no one is forcing you to look.
personally I love the earthcam and it would be pitty if it would be offline again, esspecially during my summerholliday.
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Old June 26th, 2007, 05:31 PM   #1316
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Quote:
Originally Posted by Ebola View Post
I'll be the first person on floor 102.
Just curious.....how do you plan to accomplish this?
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Old June 26th, 2007, 05:41 PM   #1317
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Quote:
Originally Posted by Tag_one View Post
well if you don't like the earthcam or the progress on the FT stop watching the cam than. no one is forcing you to look.
personally I love the earthcam and it would be pitty if it would be offline again, esspecially during my summerholliday.

i didn't say anyone was forcing me to, I admitted I am an addict--sounds like you are too. The first step is admitting you have a problem.
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Old June 26th, 2007, 07:21 PM   #1318
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yeah I'm an addict too Sometimes I skip a few days but mostly I'm watching it every 15 minutes.
The construction of the tower seems to go slowly as everything happens below grade, but remember that they've almost finnished the foundation. which happened at a normal speed. most foundation take about a year and become boring too watch very soon. personally I think the core will start to rise by the end of next month.
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Old June 26th, 2007, 07:46 PM   #1319
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Originally Posted by Carlos123 View Post
A-M-A-Z-I-N-G

Now, I understand the skyline.
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Old June 26th, 2007, 09:03 PM   #1320
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The webcam at 13:15 shows a very long truck carrying what seems to be more beams.
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