| 1998
Industry Highlights
New
York City continued to reshape and build for growth in 1998. A host
of major accomplishments demonstrated the tremendous resolve of
private and public sector leaders who overcame obstacles that in
the past seemed intractable.
The Related Companies was named developer for the Coliseum site
at Columbus Circle after a decade of missed opportunities. A breakthrough
was finally achieved at Hudson River Park, which when complete,
will create a marvelous new West Side promenade.
Last year’s completed construction projects generated enormous
civic pride.The reopening celebration for Grand Central Terminal
attracted national attention and widespread praise. Much less conspicuous,
but perhaps even more remarkable, was the City’s Third Water
Tunnel, which has been dubbed a marvel of modern engineering.
No Damages for Delay
The New York Building Congress led an industry campaign to pass
legislation that would require public owners to pay contractors
for damages due to construction delay. While the bill won approval
in both houses of the Legislature, Governor George E. Pataki vetoed
it, citing concerns with the bill’s language. The Building
Congress will continue to support efforts To pass “no damages
for delay” legislation this year.
TEA 21
More than two years of intense lobbying and cooperation with New
York’s congressional delegation paid off with the adoption
of the Federal Transportation Equity Act for the 21st Century (TEA21).
The bill authorizes $14.7 billion of spending in New York over six
years for transportation improvements. Previous levels of funding
were exceeded in the new package despite threats by lawmakers to
curtail New York’s portion of the funding. Among the critical
projects and programs aided by passage of TEA21:
- Construction of Long Island Rail Road access to Grand Central
Terminal;
- Conversion of the Farley Post Office into a new Penn Station;
- Reconstruction of the Gowanus Expressway;
- New York City Transit Authority subway and bus purchases and
station rehabilitation.
Penn Station
In reaching an agreement to develop a new Pennsylvania Station within
the landmark James A. Farley Post Office at 33rd Street and 8th
Avenue, City, State and Federal officials set the stage for the
restoration of a landmark building, a bold transformation of Manhattan’s
West Side, and the creation of a grand gateway to New York City.
Airport Access
Funding was secured for construction of a rail link from John F.
Kennedy Airport to the region’s mass transit system, and the
Port Authority and Mayor Rudolph Giuliani reached an agreement to
analyze mass transit options for a future link to LaGuardia Airport.
Grand Central Terminal
The renovation of Grand Central Terminal has restored its original
grandeur, eased traffic flow, expanded retail opportunities, and
created a more convenient and inviting rail station for commuters
and tourists.
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