The storm clouds over the New York region’s construction industry had formed in late fall 2009 as project backlogs emptied and new jobs were few on the horizon. But that bleak juncture is when some general contractors and construction managers geared up for investments – even some that escaped them during the dizzying market boom of recent years.
For Structure Tone, a decision to diversify its expertise was part of a long-term strategy – one the market bust didn’t deter, says Robert Mullen, CEO of the New York-based construction management firm, which last year did more than $1.7 billion worth of work in the region. In November, the multi-affiliate firm announced its absorption of Philadelphia’s L.F. Driscoll, a $600 million contractor specializing in the health care market.