Covid raising costs for New York contractors

first_imgNY contractors see rising costs due to COVID-19. (Getty)New York contractors are seeing their projects set back by Covid outbreaks and shortages of personal protective equipment.About 46 percent of contracting firms surveyed by the Associated General Contractors of America said they faced construction delays from a lack of protective gear.About 41 percent said work had been slowed by potential coronavirus infections on-site, the Commercial Observer reported. About one-third said they were not experiencing any delays.But perhaps more troubling is that the cost of materials has risen during the pandemic. About 84 percent said materials, parts and supplies were more expensive than they were a year ago. The construction companies also said that personal protective equipment expenditures had raised costs.Even with the vaccine rollout and increasing optimism about New York City’s real estate market, only about 38 percent said their business volume was back to pre-pandemic levels.New York City recently said it would revive about $17 billion in municipal construction projects after the city stopped contracting projects at the start of the pandemic.[CO] — Keith Larsen  Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags Commercial Real EstateConstructionCoronaviruslast_img read more