...are adding fewer properties to the tax roles and values have dropped.
�New Jersey has serious budget issues, and that prevents state construction spending,� Simonson says.
“The hospital and university markets should re-awaken sometime in 2010, after having gone to sleep in late 2008 and through 2009,” Simonson adds. “That will be a plus for all three states that have major medical and higher-ed facilities.
Di Filippo agrees, saying hospital, science and education work will trend up at a pace commensurate with population and density of the area. Turner is building St. Vincent’s Hospital Manhattan replacement facility, and recently wrapped up construction on a cancer research center and a breast care and imaging center at Memorial Sloan-Kettering Cancer Center in New York.
McGraw-Hill’s forecast is not so optimistic. It projects health care will increase slightly to $2.4 billion up from $2.3 billion, but for education buildings if forecasts a decline to $6.3 billion from $7.8 billion.
Turner has under construction a $179 million, 14-story science center for Columbia University in the City of New York; three projects for Rockefeller University in New York, a research center, a library modernization and a four-story addition to a laboratory animal research center; and multiple K-12 school projects, including the $83 million New Settlement Community Campus in the Bronx, a $43 million renovation and addition to P.S./I.S. 42 and a $47 million new school P.S./I.S. 277, both in Queens. The company also is renovating the 1920s-era Milford Plaza Hotel and fitting out space for tenant Eli Lilly at the East River Science Park, owned by Alexandria Real Estate Equities of Pasadena, Calif. Di Filippo says plans to build a second tower on the site, however, are �indefinitely on hold until there is a correction in consumer demand and capital lending.�
Vertical public projects continue, such as Turner’s $675 million, 1-million-sq-ft police academy for the New York City Department of Design + Construction. A second phase could bring the total to $1 billion. The City University of New York and the New York City Department of Sanitation also have large projects pending.
“If you don’t have that expertise and a track record of being competent in the public sector, you cannot compete, and that takes opportunities away,” Di Filippo says.
Skanska USA Civil Northeast of Whitestone, N.Y., continues work, in a joint venture with Tully Construction of Flushing, N.Y., on the $1.3 billion, 290-million gal capacity Croton Water Filtration Plant project in the Bronx. The team has 900 crafts people working on the project.
“We have not missed a beat on the execution, because there is a good craft pool available,” says Mike Cobelli, executive vice president of Skanska USA Civil Northeast. “That’s because everything else has slowed down.”