Mega Project Slated for Los Angeles
California officials are attempting to expedite construction of a $2-billion, 7.6 acre residential and commercial mega-development in downtown Los Angeles.
The project would bring 1,500 new homes, 410,000 square feet of office space along with retail, restaurants and a 68-room hotel to what’s now a collection of cold storage facilities, parking lots and warehouses in Skid Row near its boundary with the Arts District. Newsom’s decision Thursday aims to shave years off the construction timeline by fast-tracking a judicial decision in any litigation filed against the project under state environmental laws.
Denver-based developers Continuum Partners are behind project made up of 10 buildings, including a 44-story residential skyscraper at Central Avenue and 4th Street. In total, the proposal calls for 572 condominiums and 949 apartments, with at least 214 units set aside as low-income housing.
The project still requires approval from the Los Angeles City Council, which the developer is hoping for by the end of the year. Construction would follow next year, and take five to seven years to complete, and create an estimated 10,000 jobs.
Bid for $5 B Development Launched in New York City
If the New York State Gaming Commission approves, Resorts World will create a $5 billion a full “Las Vegas-style” racetrack and casino gaming complex in Queens.
Resorts World-NYC, which says it is New York state’s largest taxpayer, claims the project would generate hundreds of millions of additional tax dollars for New York as well as create thousands of permanent union jobs when completed, in addition to 5,000 union construction jobs during the project’s development.
New York state officials authorized up to three casino licenses for downstate New York last April, according to The New York Times. Since then, multiple casino developers have thrown their hats in the ring as competition to create a Las Vegas-style casino resort in the country’s largest metropolitan area heats up.
Other casino projects have been proposed to be built on Coney Island, within Saks Fifth Avenue’s flagship store, on 11th Avenue in Manhattan and at Willets Point in Queens, according to The New York Times.
The new state gaming licenses are to be awarded by the end of the year.
Largest Donation Ever by Bechtel’s Foundation Aimed at Combating Construction Worker Suicide
Bechtel has pledged $7 million over five years to the American Foundation for Suicide Prevention in order to increase efforts to combat suicide in the industry.
The donation is the largest the AFSP has ever received, and the highest in the Bechtel’s history. The funds will be used to set up programs that reach 500,000 U.S. construction workers.
Bechtel CEO Brendan Bechtel noted that construction has the second highest rate of worker suicides to the Centers for Disease Control and Prevention.
For more information about CDC suicide statistics by industry: Suicide Rates by Industry and Occupation — National Vital Statistics System, United States, 2021 | MMWR (cdc.gov)
SMACNA President Carol Duncan on Podcast
Recently, SMACNA President Carol Duncan spoke about the state of the industry, the outlook for 2025, and how to attract the best talent with the NEWSMakers podcast. Take a moment to listen here.
