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Transportation, Mixed-Use, Tech Lead Top Starts in New York, New Jersey
Client

RAL Companies & Affiliates

Date

March 19, 2020

Transportation, Mixed-Use, Tech Lead Top Starts in New York, New Jersey

By D.G. McCollough

summary

ENR New York’s Top Starts list includes the 60 largest regional projects to break ground in 2019, compiled mostly from Dodge Analytics data. For ease of comparison, the total project cost of the 40 highest-ranking projects was $16.22 billion. That’s an 11.5% increase from the $14.5-billion total for the top 40 starts in 2018. These projects, along with Zero Irving¬—also called the Union Square Tech Hub and worth $200 million, including a $120 million loan—contribute to hopes that New York and New Jersey will become a tech and life sciences hub. Joshua Wein, managing director of finance at RAL Cos., the developer of Zero Irving, says he believes spaces for tech companies and R&D centers will become a bigger construction trend for the region.

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