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Private-Buildings Sector Reels As Projects Are Postponed

Publication Date: 3/18/2009
Author: Nadine M. Post and Bureaus
Format: HTML

Even with many sealed lips about project fates, evidence of the credit crunch can be vividly seen in stilled excavations and incomplete, mothballed commercial and residential structures from New York City to San Francisco. Developers in New York City alone have stopped construction on at least 30 sites, says the buildings department, while the local Building Trades Employers’ Association (BTEA) reports nearly $5 billion of delayed or stalled projects.

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