Work resumed on Oct. 5 on $1.7 billion of road and transit work in New Jersey, shut down three days prior by Gov. Christopher Christie (R) after state legislators agreed to approve $1.25 billion in bond financing through next March. Lawmakers had balked because Christie would not commit to the state’s $2.7-billion share of an $8.7-billion Hudson River rail tunnel, a move that could kill the project, called Access to the Region’s Core (ARC). A 30-day project cost review is set to end on Oct. 9. Published reports say Christie is concerned about ARC cost overruns and wants the state’s
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.