Monday, April 24, 2017

‘Staggering delays, exorbitant costs’ in New York City library, cultural building construction

A new report released by the Center for an Urban Future found significant flaws in how New York City manages capital projects for libraries and cultural institutions.

These projects encounter “staggering delays and exorbitant costs” the report says. The median new library and cultural project takes about seven years to complete and costs $930 per square foot, or roughly twice the cost of building a new office tower in the city, the report says.

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