Alternative project delivery methods, including public-private partnerships (P3s), may well play an increasing role in New York City-area megaprojects. Officials are exploring the possibility of private sector involvement in a range of upcoming ventures including the $3.6-billion LaGuardia Airport central terminal revamp, the extensions of the Hudson-Bergen and Camden light rail lines in New Jersey, and the $1-billion Goethals Bridge rehabilitation.“We are exploring the possibility of P3s to complement our capital program, and we welcome your ideas,” said James Weinstein, executive director of New Jersey Transit. He spoke at a July 25 forum hosted by Professional Women In Construction and
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.