Construction's Wind of Change
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|Betchya didn't know that Bisnow's expanding beyond real estate—we recently hired editor Jeff Gamsey to cover Legal Bisnow in NY (subscribe!). But that's not Jeff above. Luckily for us, he also visits real estate lawyers like Duane Morris powerhouse construction attorney Allen Ross, who with his 21-lawyer team (60 nationwide), has worked front-to-end on projects like One World Trade Center,Atlantic Yards, and Time Warner Center. Even during the recession, Allen says public construction has been strong, though the winds of change may be howling. The public market has become unpredictable, he notes, pointing to the Second Avenue Subway and recent ARC Tunnel cancellation. What's next? We'll start to see many public/private partnerships (formerly popular only in Virginia, western states, and Europe) in NY and NJ for projects like the new Tappan Zee and Goethals bridges.|
|Allen showed us this lovely Mondrian-esque Jeffrey Trosk sculpture, a gift from his mom in celebration of his 1978 office opening. He's had it by his side for over 30 years. In the private construction markets, Allen says institutional clients like hospitals and universities are taking advantage of lower construction and labor costs to push forward projects like Columbia's Manhattanville campus expansion and North Shore Long Island Jewish Hospital's$2B expansion. As for Duane Morris? Allen tells us the group is looking to add strategically to its construction presence in Boston, NY, Philly, Pittsburgh, DC, ATL, San Fran, and Chicago, and hopes to start construction teams in its Miami and Houston offices.|