Recent construction industry reports named New York City as the city with the most multi-family units under construction in North America. It has overtaken the Canadian city of Toronto by 701 residential units under construction. While this represents only part of the construction industry sector in the city, the numbers reflect the overall construction boom that is happening. It also shows that the economic downturn that stalled residential construction of all types is a thing of the past.
Toronto seems to be slightly miffed by its demotion to second place. One industry spokesperson said, “”The decline and resurgence of construction in New York City is something we’ve kept a close eye on over the past five years. A city’s construction numbers are a reflection of a stable and growing economy. Toronto has led in the construction sector for years, despite the fact that New York City has a population more than three times that of Toronto.” However, the good news for the Toronto construction industry is that that city continues to be number one in North America when units per capita are measured.
New York City also wins in the height category. The five tallest buildings under construction in the city will be taller than Toronto’s highest tower, which measures 844 feet. And in the multi-family category, NYC also wins in terms of size of units. According to news reports, nearly 40 percent of units under construction in NYC have three or more bedrooms; only six percent of those in Toronto are as large. Where is all this multi-family construction work occurring? It turns out that it is not in Manhattan but in Long Island City.
What do these positive economic numbers mean for New York City’s construction workers? They certainly mean more opportunities for work. But they also appear to mean greater danger for the city’s workforce. There have been nine workers killed in NYC construction accidents so far in 2015, putting this year in the running for the deadliest in the construction industry in many years.