Elizabeth Velez has been on construction sites since she was little, whether it was joining her father at building projects or sharpening pencils in the office of the Velez Organization, the general construction and management firm he founded in 1972. After three decades in the business, Velez chairs the New York Building Congress, helping to lead the industry into recovery after a tumultuous spring, when all nonessential construction was shut down. She is on Mayor Bill de Blasio's Construction and Real Estate Sector Advisory Council, providing guidance on ways to keep workers safe and projects in the pipeline.
How has the construction industry shifted?
We do essential work. All those projects kept going forward, so we had to shift in place and develop policies in real time as the pandemic was evolving to be able to keep the workers safe. Finding PPP was as difficult for the construction industry as it was for the health care industry. We saw major programs, like for the Port Authority, that were put on ice. When projects were shut down, companies were really hurt, and in some instances, those projects have not come back online.
What is the biggest challenge developers are facing?
Funding. A business-as-usual approach will not suffice for us to achieve a stronger, fairer and more inclusive economy and society. Federal aid is essential to replenishing the capital budgets of our agencies. The focus should also be on the sectors that have been most affected by the pandemic, like hospitals, schools, higher education and, of course, transportation.
What is keeping projects from moving forward?
There's an urgency to stabilize our economy. And one way to quickly support private investment is to incentivize and partner with the public sector. Expediting the rezoning of some communities to incentivize private investment there is important as well. I don't think New York City is seen as an easy place to develop by any stretch. We have to be able to create a platform and an environment that incentivizes organizations, businesses and real estate developers to come in and invest their money. Otherwise, it's not going to happen.
What can elected officials do to help?
For industry advocates and advocacy organizations as well, we need to be clear in the communication on the benefits of these projects and have a real dialogue, rather than have something come out in the news and have it be voted down the next day.
What role will the next mayor play for the industry?
It's critical for the next leader in City Hall to understand the significance of the real estate industry and to keep New York competitive. The next leader has to understand not only what he or she would be getting into in terms of the fiscal crisis that we're going to be facing, but we really need a visionary in City Hall to be able to work collaboratively and quickly.
What sector of real estate do you think will face the most challenges next year?
It will likely be residential construction for the financing, building and market-demand sides of it. If we focus on affordable housing, that provides a unique opportunity to build in a market that still has tremendous demand.
"industry" - Google News
December 07, 2020 at 07:45PM
https://ift.tt/2K2eG28
Building Congress chair on what the construction industry needs to keep moving forward - Crain's New York Business
"industry" - Google News
https://ift.tt/2RrQtUH
https://ift.tt/2zJ3SAW
Bagikan Berita Ini
0 Response to "Building Congress chair on what the construction industry needs to keep moving forward - Crain's New York Business"
Post a Comment