Report Reveals Hospitals Account for $1B in Construction Starts Through June
With NYC hospitals shuttering at a rate of one hospital per year on average since 2006, it would seem that the institutions are disappearing. However, New York Building Congress has released an analysis of construction data by Dodge Data & Analytics that reveals that the medical industry accounted for more than $1B in construction starts between January and June of this year.
The largest start this year belongs to Memorial Sloan Kettering Cancer Center's 1.2M SF complex at 525 E 73rd St (rendering pictured).
And it's not just hospitals that are building. Construction starts for public and private institutions—including schools, libraries, courts, hospitals and churches—were worth $2.9B in the first half of 2015. Compare that to just $796M in the first half of 2014. Public elementary and secondary schools accounted for about $960M in construction. [CO]