In the most recent Lodging Econometrics (LE) Construction Pipeline Trend report on New York City, LE states that New York City has a total of 155 projects/26,605 rooms in the construction pipeline, one of the top three largest pipelines in the U.S. Of this total, hotels presently under construction are at 102 projects/17,504 rooms, projects scheduled to start construction in the next 12 months are at 23 projects/3,637 rooms, and those in early planning are at 30 projects/5,464 rooms.
The three market tracts with the largest hotel construction pipelines are: Midtown South, the area between 24th and 36th Streets, with 33 projects/7,620 rooms; the greater New York City Area, which includes Brooklyn, the Bronx, and Staten Island, with 28 projects/2,436 rooms; and the East River area, which includes Queens and Brooklyn West, with 27 projects/4,499 rooms. These three important market tracts combined account for 55% of the rooms in New York City’s total construction pipeline.
The market tracts with the most projects presently under construction are Midtown South with 25 projects/6,012; the East River area with 18 projects/2,925 rooms; and JFK/Jamaica, which includes the area of Queens from the Grand Central Parkway south, the JFK Airport area and Jamaica, with 15 projects/2,055 rooms.
LE’s forecast for new hotel openings predicts that New York City will lead the nation for new hotel openings in 2019 with 41 projects/6,809 rooms. In 2020, New York is again forecast to top the list of new hotel openings with 61 projects/8,283.
Related Stories
| Dec 4, 2014
New airports raising green standards to new heights
Recent airport designs are bigger and much more efficient, based on a look at recent projects in Mexico City, London, and China.
| Dec 4, 2014
Rock Hill, S.C., puts moratorium on multifamily construction
City officials say the flurry of apartment construction over the past year has strained resources, including public services and infrastructure.
| Dec 4, 2014
Ontario contractors renew push for prompt payment legislation
A new coalition of Ontario contractors, construction associations, suppliers and trade unions will push for a revival of prompt payment legislation late this year.
| Dec 4, 2014
Roofing material manufacturers extend research project on sustainable roofing
A coalition of trade groups is sponsoring continued analysis of a reroofing project at the Onondaga County Correctional Facility in Jamesville, New York.
| Nov 26, 2014
Colorado must fix construction defects law, Denver Post says
Colorado's “vexing construction defects law” has hampered the building of new condominiums in the state, according to an editorial in the Denver Post.
| Nov 26, 2014
Cheyenne, Wyoming City Council kills downtown design standards proposal
The Cheyenne, Wyoming City Council voted down a measure that would have implemented design standards for new construction and building additions downtown.
| Nov 26, 2014
ASTM International develops first product category rules for asphalt roofing industry
The Asphalt Roofing Manufacturers Association (ARMA) and ASTM International have developed Product Category Rules (PCR) for asphalt roofing in North America.
| Nov 26, 2014
International Green Construction Code will include option for outcome-based approach
The outcome-based approach requires the building owner to provide the building’s utility bills for a 12-month period within three years.
| Nov 20, 2014
Pentagon is reviewing hospital construction standards
An independent review panel of military specialists met with healthcare leaders Nov. 12 to consider whether construction standards for medical centers should be strengthened to align with industry best practices.
| Nov 20, 2014
ConsensusDocs releases first standard agreement for commissioning contracting
The new standard contract provides a contractual vehicle for owners to save significant money from operation and maintenance costs regarding energy performance.
