NYC Construction Update - Crane Crackdown

In light of the fatal crane collapse nearly two weeks ago, the Buildings Department is engaging in more vigorous inspections of cranes and new protocols. Of the nine inspected at major sites thus far, three have failed, including a crane at the Trump SoHo, which was the scene of the worst construction accident of the year prior to the Midtown crane collapse (a worker died when a concrete form collapsed, sending concrete flying and the worker fell 42 stories to his death).

Inspectors will be required to be on scene when any crane is being jacked up to the next level or disassembled. The Midtown collapse occurred when the crane was being jumped (extended).

Meanwhile, the Hudson Yards project cleared a major hurdle today, when Crane's New York reported that Tishman Speyer won the right to build on the site.

Tishman Speyer edged out three other development teams to win the fierce competition to develop the Hudson Rail Yards, the 26-acre site on Manhattan’s far West side that is envisioned as an extension of midtown’s business district.

Tishman Speyer bid $1.004 billion for the rights to the plot, where it plans to build 10 million square feet of office space and 3 million square feet of housing while leaving 13 acres of open space. Its offer was $112 million higher than a competing offer from a joint venture of The Durst Organization and Vornado Realty Trust. That group had lined up Condé Naste Publications as a tenant and its proposed 6.4 million square feet of residential space was the most offered by any developer.

It is expected to cost $1.5 billion to build a platform over the train tracks so construction can begin.

It would be one of the largest developments in the city, rivaling the construction at Ground Zero. The hurdles are also quite daunting - significant zoning changes are required and a platform needs to be built over the rail yards before actual construction on the buildings can begin.