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
| Jul 1, 2014
Dept. of Labor reaches settlement for $5 million in back wages for workers on federally assisted project
The U.S. Department of Labor and MDG Design & Construction LLC have reached a settlement over wage violations at the federally-assisted 26-story Grand Street Guild rehab project in New York City’s Lower East Side.
| Jul 1, 2014
GSA, Homeland Security research leads to performance-based design guide
The National Performance Based Design Guide, based on research and development supported by the Science & Technology Directorate of the Department of Homeland Security and the Public Buildings Service of the General Services Administration, is now available.
| Jul 1, 2014
FEMA grant helps fund school theater that will double as tornado safe room
Scott City School District in Missouri recently broke ground on an 8,990-sf performing arts theater that will also function as a tornado safe room.
| Jun 30, 2014
Research finds continued growth of design-build throughout United States
New research findings indicate that for the first time more than half of projects above $10 million are being completed through design-build project delivery.
| Jun 26, 2014
Canadian groups combine forces to support EPD program for LEED v4
The Canadian Standards Association (CSA) Group and the Canada Green Building Council (CaGBC) will collaborate to support LEED v4 and CSA Group’s Environmental Product Declaration (EPD) program.
| Jun 26, 2014
Ohio is first state to roll back renewable energy standards
Ohio became the nation’s first state to roll back renewable energy standards after the state House of Representatives passed Senate Bill 310 and Gov. John Kasich recently signed the measure.
| Jun 26, 2014
Walkable areas lead to higher rents for developers
New research from a George Washington University research group and LOCUS, a coalition of real estate investors that's part of Smart Growth America,says that offices in “Walkable Urban Places (WalkUPs)” bring developers 74% more rent per square foot.
| Jun 18, 2014
ASHRAE publishes guideline on specifying Building Automation Systems
Performance monitoring guidance is a key feature of the document. It provides designers of BAS systems with recommendations for good practice, project considerations, and detailed discussion of design options.
| Jun 18, 2014
Battle over low-cost, Chinese-made solar equipment could stunt solar power growth
The U.S. Department of Commerce tentatively agreed to assess tariffs of up to 35% on solar equipment, a move that could slow the rapid growth of the domestic solar power industry.
| Jun 18, 2014
Senate passes ‘compromise’ bill that green lights 26 new VA hospitals, clinics
The U.S. Senate reached a compromise deal combining elements of two competing Veterans Administration reform bills that would, among other things, gives the go-ahead for the construction of 26 new VA hospitals and clinics.