Even with many sealed lips about project fates, evidence of the credit crunch can be vividly seen in stilled excavations and incomplete, mothballed commercial and residential structures from New York City to San Francisco. Developers in New York City alone have stopped construction on at least 30 sites, says the buildings department, while the local Building Trades Employers’ Association (BTEA) reports nearly $5 billion of delayed or stalled projects. Slide Show Tempe work stopped in 2008. Photo: The Firm PR. Work on Vegas twin-tower resort-casino halted. Construction also is slow on the West Coast. In California, the dollar value of
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.