At its core, Public Service Enterprise Group (PSEG) is like any other energy services company that aims to meet or exceed shareholder value and keep power flowing through sweltering summers and record-breaking storms.
The good news is that the baseline contract value of projects in the region's Top Starts rankings rose to $127 million last year, more than double that of 2010. The not-so-good news is that the combined total of the 25 projects in the rankings only reached $7.9 billion, a 10% decline from 2010 and down 58% from the $18.6 billion posted in 2009.
Port Authority of New York and New Jersey officials, stung by an audit detailing cost overruns at the World Trade Center, say they are pursuing increased private investment to recoup some of the burgeoning costs of rebuilding at Ground Zero.
City officials are investigating why the cable of a crane carrying steel beams at the 4 World Trade Center construction site snapped just before 10 a.m. Feb. 16, causing the beams to fall about 40 stories onto the flatbed truck used to transport the load. No one was injured at the site, which is set for completion this fall, say city officials. "The incident occurred in an enclosed section of the site, which is not accessible to the public," Tishman Construction, 4 WTC construction manager, said in a statement. The job site is partially shut down pending an investigation, it
The solar market remains in a state of flux with some firms expanding and others restructuring. Most recently, San Mateo, Calif.-based SolarCity, a solar power installer and service firm, says it will open a Hartford office to take advantage of incentive programs under Connecticut's newly created Clean Energy Finance and Investment Authority (CEFIA) and the Conn. Dept. of Environmental Protection. Rendering Courtesy of SolarCity "Connecticut residents pay some of the highest electricity rates in the nation," says Ed Steins, Northeastern regional director of SolarCity, which has offices nationwide including New Jersey and New York. "We can give them the option
A federal court has denied the American Automobile Association’s request to immediately roll back the controversial Hudson River crossings toll hikes that the Port Authority of New York and New Jersey put into effect last September. The Feb. 6 decision by Judge Richard J. Holwell of the U.S. District Court in Manhattan is part of a lawsuit that AAA’s Automobile Club of New York filed against the Port Authority in September charging that the agency uses toll revenues to pay for non-transportation projects including the World Trade Center redevelopment. The suit is ongoing. The Port Authority says the lawsuit is
The 20 young A/E/C industry professionals honored in ENR New York's Top 20 Under 40 competition have gone beyond the norm of excellence in their careers, showing leadership skills in their profession as well as a commitment to give back to their communities.
When Gale Grady, district manager at PCL Civil Constructors, discusses Florida's Dept. of Transportation's information technology system, it sounds a lot like sailing: To take advantage of a beautiful day, or an interesting contract up for bid, a contractor connects to an online program that allows digital submissions, or even multiple resubmissions if modifications are necessary, before bids close. Like a sailboat catching a good wind, the e-bid system propels the contractor through a streamlined process fairly quickly and pretty smoothly. "This is far and above what manual submissions are like," says Grady, whose Tampa, Fla.-based firm has teamed up
Rendering courtesy of Related Cos The choice of a firm not based in New York City has angered some groups. Work on the $4-billion Hudson Yards project on Manhattan's West Side is set to start by late summer with the recently announced surprise choice of Tutor Perini, Sylmar, Calif., as prime contractor. New York City-based developers Related Cos. and Oxford Properties Group say they will form Hudson Yards Builders, a joint venture with Tishman Construction, to operate as owner-builder for the 26-acre site that is Manhattan's single-largest undeveloped property."[Tutor Perini] has an exemplary track record with complex, large-scale developments," says
The financial industry in the not-so-distant past drove much of the real estate development in New York City but the information technology and media industries are becoming more active players, said Adam B. Frazier, development manager at Boston Properties. On the tech front, Facebook and Google have each announced NYC expansion plans and Twitter opened its first office in the city last fall. Publishing giant Conde Naste, the anchor tenant for 1 World Trade Center accounting for 1.05 million sq ft of space in the tower, will reportedly soon sign on for an additional 133,000 sq ft, according to a
