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 12, 2012
Contractors have increasing concerns over new federal hiring quotas
A proposed rule by the U.S. Department of Labor's Office of Federal Contract Compliance Programs to increase disabled- and veteran-worker hiring quotas for federal contractors continues to raise deep concerns among contractors.
| Jul 5, 2012
Veterans Administration threatens to pull contract on new Orlando medical center
The Veterans Administration asked contractor Brasfield & Gorrie to get more workers on the job and figure out a way to get the job done faster, or the VA would pull the contract on the much-delayed Orlando VA Medical Center.
| Jul 5, 2012
Cost to contractors for new federal hiring quotas much higher than estimated, AGC says
Administration officials significantly underestimated the cost to construction employers of proposed new hiring quotas for federal contractors, according to analysis by the Associated General Contractors of America.
| Jul 5, 2012
Roof membrane could have prevented roof parking deck collapse, specialist says
The collapse of a section of a roof parking deck at the Algo Centre Mall in Elliot Lake in Ontario, Canada could have been prevented if the structure had a membrane, according to a concrete expert and specialist in structure analysis at McMaster University.
| Jul 5, 2012
New Joplin, Mo. hospital being built to withstand tornado that destroyed predecessor
After the May 22, 2011, EF-5 tornado destroyed St. John’s Regional Medical Center in Joplin, Mo., architects and engineers analyzed how the nine-story structure reacted to the storm.
| Jul 5, 2012
Continued tax breaks necessary for widespread adoption of net zero buildings
Tax breaks passed by the U.S. government to encourage construction of green buildings are set to expire in 2012 and 2013.
| Jun 28, 2012
Six buildings now recognized under Living Building Challenge
The Living Building Challenge (LBC), a green ratings system for design and construction that judges a building based on its actual performance, not just its projected performance at the design stage, has recognized six buildings to date.
| Jun 28, 2012
Label for building products will have ‘global warming number’
The director of the 2030 Challenge for Products says that the organization is aiming to place a label on building products that will list what’s in it, and how much embodied carbon each product represents.
