NYC Remains World's Most Expensive City for Building

NYC and San Francisco made the top five of most expensive cities to build while the Seattle and San Francisco markets were identified as "overheating"

May 23, 2018

Turner & Townsend

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Turner and Townsend

With an average cost of $362 per square foot, New York City is once again the most expensive place to build in the world. According to Turner & Townsend's 2018 International Construction Market Survey, NYC had a 3.5% year-over-year increase last year with another 3.5% increase expected in 2018.

Coming in a close second is San Francisco with an average cost of $347 per square foot. Hong Kong, Zurich and London round out the top five.

(more on the most expensive cities in the world to build...)

Highlights from the Celebration of Construction 2023

Clips and high points from around the National Mall as editor Brandon Noel stops and talks to some of the top brands and manufacturers in the industry about the first ever gathering of the construction industry in the nation's capitol.

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BOMAG Americas Announces New President

On March 10, just before CONEXPO 2023 got underway, Brian Bieller was selected to take over as the new head of North American operations.

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Construction Equipment Market Outlook: Challenges Persist, but Long-Term Hopes Remain High

An insider's look at the driving forces behind what equipment manufacturers in the construction industry will be facing for the remainder of this year.

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Everything We Saw At World of Asphalt 2024

Nashville was hardly big enough to contain everything that World of Asphalt 2024 had to offer, and whether you were there or not, there are plenty of things you might have missed!

Asphalt Repair Company Expands to Fifth State in Four Years

Pothole Heroes, known largely for their custom trucks and infrared based asphalt repair services, started in just 2020, and going into their fourth year of business is expanding its service area to Charlotte, N.C.

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BOMAG LIVE! New Products, Giveaways, and More at World of Asphalt

BOMAG Americas’ World of Asphalt 2024 participation will be one of the company’s largest and most ambitious to date. Featured in BOMAG’s 2,500 ft2 display in booth #2731.

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World of Asphalt Preview Guide 2024

The biggest product showcase and event for asphalt producers, pavers, and everything in-between.

Foamix Eco Is Here

Groundbreaking Carbon Neutral Asphalt Material

Prominent construction materials supplier, Aggregate Industries, has launched Foamix Eco, a groundbreaking, onsite asphalt material that can achieve carbon neutral status. Could the UK product see use in the domestic market soon?

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Astec Expands Rock to Road Strategy at World of Asphalt 2024

Five new products and product features will be on display at Astec's booth #1263 where attendees will get a first-hand look at innovative additions to crushing, paving, and milling.

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Weiler to Manufacture, Sell Challenger Super Broom

The new product expands Weiler's offerings, and is slated to go into production in late 2024.

IRONMARKETS’ Content Team Hires New Social Media Specialist

Madison Scott named Social Media Specialist for IRONMARKETS’ Content Team.

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Building Better Cities: The Future of Transportation Infrastructure

When the people that design transportation infrastructure and the people that build it are on the same page, the future of America's cities will be much brighter than its past.

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The First PAVE/X Smashed Expectations

The inaugural, premier event for pavement maintenance professionals launched this week in downtown San Antonio, TX, and the well attended event exceeded the highest estimates!

Industry job openings decreased by 21,000 last month and are down by 39,000 from the same time last year.

ABC Reveals Construction Job and Labor Data Shows Consistent Worker Shortage

Industry job openings decreased by 21,000 last month and are down by 39,000 from the same time last year.

New NAPA chairman Brady Meldrem, Norris Asphalt Paving Co. giving his opening address to the assembly.

New Chairman Came from Humble Beginning, Cast Big Vision at NAPA Annual 2024

At the Omni Hotel and Resort in Orlando, Fla. the National Asphalt Pavement Association (NAPA) held its annual meeting, a new chairman took the reigns, and, in the shadow of an election year, political influence was a hot topic.

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Ammann America Relocates Headquarters

According to the company, strong customer growth has prompted Ammann America to secure a new, larger facility.

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Reed Ryan Is The New APA Executive Director

Reed Ryan, executive director of the Utah Asphalt Pavement Association (UAPA) and immediate past chair of the State Asphalt Pavement Associations, Inc. (SAPAs) is taking the helm of the Asphalt Pavement Alliance (APA), effective Feb. 7.

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IRONMARKETS’ Flitcroft Selected for Second Term on AEM Board of Directors

The association identifies 70 industry elects tasked with providing strategic direction and guidance to help members and the industry succeed.

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A Future Without The Highway Trust Fund?

Electric vehicle ownership saw its biggest single year increase in 2023, and that trend is expected to continue, along with the decline of fossil fuel tax revenue. There's a ticking clock in Washington: The IIJA expires in 2026. Then what?

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Caterpillar Plans to Expand Electrification and Energy Offerings at CES 2024

Those attending the Consumer Electronics Show 2024 in Las Vegas, NV, will meet the full force of the company's "The Power of Possible" campaign in their almost 9.600 sq ft floor exhibit, running from January 9 - 12.

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Serious Workplace Injuries Jump 7.5% From 2021

To effectively eliminate workplace hazards, safety experts recommend effective worker safety training programs and putting a priority on eliminating hazards with system-wide engineering and operational changes.

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Fed Announces $384 Million Low Carbon Asphalt Investment

Out of the GSA's announced $2 billion, which included 150 different construction projects using low embodied carbon materials, a significant portion of it will directly impact the asphalt and road building industry.

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The Buy Clean Impact on Asphalt

The Buy Clean legislation has been put in place to not only help the environment but to aid construction companies’ efforts toward reducing their carbon footprint.

Leading payroll vendor ADP has launched a construction-specific human capital management (HCM) product that will compete with established construction-specific HCM products.

Payroll Leader ADP Gets Vertical with Human Capital Management for Construction

The company enters the market for construction HCM software—what it means for contractors looking for a solution and those already using other construction HR software.

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Hops & Highways: PAVE/X Goes ALL IN for the Sweeping Industry

The inaugural event, January 30- February 1 2024, will feature education that has been crafted in partnership with the North American Power Sweeping Association and live outdoor equipment demonstrations from leading sweeping manufacturers.

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Highway Trust Fund Hearing to Address Solvency Issues

Electric vehicle ownership saw its biggest single year increase in 2023, and that trend is expected to continue. With the decline of fossil fuel tax revenue, the federal government will discuss alternatives in a scheduled hearing on Oct. 18.

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Dynapac North America has BIG Plans for PAVE/X

The live equipment demos in San Antonio, January 30-February 1 2024, will feature 14 different manufacturers in the paving and pavement maintenance space.