Entry of New York Competitor Signals Building Market Shift
The changing face of New York City construction has opened the door for new players such as Hunter Roberts Construction Co. But construction executives eyeing Big Apple building growth say the market is hypercompetive and lacks management capacity.
Hunter Roberts is a new start-up whose existence was revealed earlier this month when its chairman, former Turner Construction Co. CEO Robert Fee, disclosed his new venture and the recruiting of 11 former Turner executives to join him. The timing is not accidental. Local industry executives say the city is poised for a construction renaissance, with Ground Zero rebuilding under way, plans for a new football stadium that could generate redevelopment of Manhattans West Side and zoning changes in Brooklyn and Queens that could spark significant housing construction. That does not include a local bid for the 2012 Olympics.