Whatever you may think of Donald Trump, the fact remains that he is the President of the United States and if no peculiar circumstances arise, he will be for the rest of his four-year term. He is, of course, now living in Washington D.C in the White House but for much of his career, he has been associated with the country’s de facto capital: New York City. Trump has been referred to as ‘the King of New York’ in the past (an ironic title considering just how overwhelmingly he lost the state to his rival Hillary Clinton in last year’s election) but he has not set foot in the city since his inauguration. It was his home prior to the election and his wife, Melania, and son, Barron, still live there in Trump Tower (at a reported cost to taxpayers of between $127,000 and $146,000 each day). In any case, he is not there now and because of his new responsibilities as leader of the free world, he will likely not spend much time there in the future.
Since Trump is a property developer, the New York skyline is not going to be accommodating any more of his buildings anytime soon. Ambitious and aspiring moguls may, therefore, see this as an opportunity to make their own fortune. If you are one of them, and you want to start building in New York, there are lots of things that you should be aware of. While the President was kind enough to write and publish several books about the secrets to his success, the landscape is changing and will continue to in the future. Here are a few ways that New York City is evolving:
If you are going to become part of the industry, there are lots of costs and it may seem prohibitively expensive if you do not have a small loan of a million dollars from your father, for instance. There are things like Crane Hire to consider as well as the cost of the land on which you intend to build, which is Manhattan is likely to be amongst the most expensive in the world.
Being a construction worker in New York is becoming more dangerous. A recent report released by the New York Committee for Occupational Safety and Health found that the number of construction-related fatalities rose from 17 in 2011 to 25 in 2015. The state as a whole saw an increase from 33 to 55. This disturbing trend is actually a negative correlation and is credited to the declining number of safety inspections. In 2011, 2722 were conducted while in 2015, this number fell to a dispiriting 1966. Another interesting development in the industry is that construction unions, which once had such a dominating hold on the New York City market, is seeing its influence being reduced. Construction firms are failing to renew collective bargaining agreements with the unions which is allowing for more nonunion workers. In 2014, a study found that only about 30% of mid to high rise projects used union workers.