New York state and city officials have big plans brewing, including sprawling developments like the $2-billion planned applied science campus on Roosevelt Island, controversial proposals like a new $4-billion convention center in Queens, and billion-dollar infrastructure upgrades like those planned for the George Washington Bridge. But industry watchers say that while such complex multi-year projects bode well for the A/E/C industry, there are likely to be speed bumps along the way.
These include issues over securing long-term construction project financing in an economy still struggling to recover from the recession, higher building and materials costs and, especially for the transit side, a Congress that has yet to pass a long-term transportation funding bill. Labor issues are also part of the equation, as relationships between managers and employees appear to be in flux. Given the challenges, some industry players say that the year ahead remains uncertain and that more than a few planned projects may get caught in the headwinds.