New York was one of the most affected states in the US in the first phase of the COVID-19 fallout. In the first phase of the pandemics, many businesses were forced to go on a halt, while many construction projects were postponed or canceled. New York is slowly resuming all construction with the beginning of 2020 but is most likely faced with long-term challenges. In the meantime, construction workers need to practice social distancing on construction sites and wear proper PPE.
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Construction Sites Deemed Non-essential
The fact that many construction companies had their sites deemed as non-essential, closed the business and the influx of profits for these companies, may have long-term effects on contractors in New York that have had their sites placed on a halt. Construction sites where there have been noted infections with COVID-19 have been closed, but these contractors are expecting to resume operations in the following weeks with sites made safer for construction workers. All construction employees and employees across other sectors and industries are due to follow up with guidelines in preventive measures against the spreading of COVID-19.
Office Space Construction Against Work at Home Measures
Chaz Rynkiewicz with Local 79 Laborers claims that it is expected to see the demand for office space construction in the following period. The prediction on the mentioned decline arrives as a result of new measures prescribing work at home for numerous sectors and businesses where that type of work is enabled and possible.
A Decline in Demand Expected in Commercial Real Estate and Retail
A New York University economist, Joseph Foudy, claims that it is expected to see a decline in demand for commercial real estate and retail in the following period. According to the New York State, construction activity in New York City accounted for 84 billion dollars in 2018, which also represented 10% of the total output of the city.
