Hudson Yards Project

Hudson Yards Project

The Hudson Yards project is one of the most exciting real estate development project not only in the country; but I would say in the world. Spanning over 28 acres around Chelsea and Hudson Yards, the project would consist of 16 sites. The first phase actually opened last year and I am happy to report that I did visit the site. There was a huge green space there which is very pedestrian friendly. Also some buildings have already opened up.

“When Hudson Yards is completed, an estimated 125,000 people daily are expected to live, work, dine, shop, study, stroll or sightsee at this 28-acre neighborhood, which will include 14 acres of public open space, a public school and the Western Hemisphere’s highest outdoor observation deck, among its many commercial and residential buildings” (Hudson Yards New York). The second phase is expected to be completed by sometime in 2024. Hopefully, I can review this exciting on-going project even then.  

A picture of the project (Image Credits: NY.Curbed)

Impact of COVID-19 Pandemic on US Infrastructure- Part 4

Impact of COVID-19 Pandemic on US Infrastructure- Part 4

In this series of blog articles, I continue my coverage of the impact of the COVID pandemic on US infrastructure. We can say in complete certainty that the economic impact of the pandemic, when measured, would be unprecedented. Though most states have reopened (and some of them have scaled back as well), its impact on infrastructure can’t be gauged quickly. Rather, a more systematic and comprehensive review of existing conditions and a plan to upgrade it must be sough out through experts. 

“One can expect that infrastructure financing will take a downward plunge in the short to medium term. However, once the pandemic is successfully contained, the focus will need to shift from crisis management to assisting to adequately invest in infrastructure for development, as well as preventing and mitigating the impact of future outbreaks contractually” (Deloitte).

A picture of the ASCE Logo; the ASCE is expected to play a big role in infrastructure financing in the near future (Image Credits: McKinley Advisors)

Impact of COVID-19 Pandemic on US Infrastructure- Part 3

Impact of COVID-19 Pandemic on US Infrastructure- Part 3

As mentioned in Part 2 of this series, the lack of infrastructural capital to not only operate current projects but also fund future, long-term projects is an extremely negative fallout resulting from the COVID-19 pandemic. One way to address this is by public-private partnerships which the US has taken little light of.

But, I definitely believe the country is seeing the benefits of having such agreements. Take the example of the healthcare sector: “As the CDC stumbled around in its early testing, Mayo and Cleveland Clinic rapidly developed their own tests, only to be forced to stand down by government agencies.  Now they are unleashed, as is Roche, ThermoFisher, Integrated DNA Technologies, LabCorp and Quest” (Healthevolution). Even the big technology companies like Google and Apple are regularly publishing mobility reports to support decision makers. This is also a great opportunities for governmental agencies to partner with companies and start-ups in the technology Sector for the latest digital tools. It is also an opportunity for the former to ensure that critical government services can be run digitally as well.

The CDC Building in Washington, D.C. (Image Credits: CNBC)

Impact of COVID-19 Pandemic on US Infrastructure- Part 2

Impact of COVID-19 Pandemic on US Infrastructure- Part 2

As the COVID-19 pandemic continues to wreck havoc causing economies to be disrupted and major declines in employment rates, federal, state and local government agencies are looking at prospects of huge revenue shortfalls, lack of support system for service and maintenance, furloughing their employees and the prospect of multiple waves. In the transportation sector, most agencies are depended on various tax streams (e.g. the farebox tax, sales taxes, gas tax). With all these sources depleted, they have to depend on federal agencies to bail them out. This also puts a risk not only to their current projects but also the ones they have planned for the future.

At the same time, this is also a great opportunity for these agencies to fix their long-standing problems of projects still stuck in the gestation period. This is the time for them  address these critical issues and modernize the infrastructure, without compromising on the safety.

The MTA ridership has plummeted over the last three months (Image Credits: ABC7 New York)

Bangladesh Dialysis Centres

Bangladesh Dialysis Centres

This blog is now expanding to focusing on infrastructure of a type which hasn’t been explored at all: healthcare infrastructure. The first project which I am going to focus on is in a country of the Indian subcontinent: Bangladesh. According to KPMG, “Bangladesh is launching its first healthcare PPP: two dialysis centres in the cities of Dhaka and Chittagong at a cost of US$1.8 million” (KPMG). The role of the private sector in this project would be that of creating the existing infrastructure while the government would provide financial and logistic support.  There would be a leasing contract between the Directorate General of the Health Services, the Infrastructure Development Company (which acts as the capital provider) and Sandor Medicaid (which is the project developer).

This initiative is said to increase the number of dialysis machines and broaden the level of dialysis services by adding new capacity into existing public hospitals. This project will be developed through the design, build, finance and operation (DBFO) method. It is said that, based on the success of this project, other healthcare infrastructure-related projects like diagnostic services, imaging facilities, laboratories, pharmacies and ambulance services might be completed through public-private partnerships.

The Chittagong Medical Center, shown here, would have one of the two dialysis centers in this project (Image Credits: National University Archive)

Central I70 project

Central I70 project

Continuing with our focus on major infrastructural projects in the Middle States, the Central 70 project is considered to be the largest infrastructure development project in the Colorado Department of Transportation’s history. The project’s main objective is to reconstruct a 10-mile stretch of I-70, add a new express lane in each direction and construct a 4-acre park in a portion of the lowered interstate. Finached through a public-private partnership, the project would cost $1.2 billion in value. The CDOT would be working with Kiewit and Meridiam, for this project.

“The need for this project results from the following issues:

·      Increased transportation demand

·      Limited transportation capacity

·      Safety concerns

·      Transportation infrastructure deficiencies” (Denvergov)

At present, the project has attracted controversy regarding changes to laws which reduce the required air quality standards for the project. This project is linked to the I70 Mountain Corridor Project, which was discussed in this blog in February this year.

A picture of the existing highway (Image Credits: Denver.Local CBS)

Denver FasTracks

Denver FasTracks

This country needs many ambitious transit projects to keep it running. One of them is the FasTrack system. A multi-billion-dollar public transportation expansion plan, it is expected to bring in 122 new miles of commuter and light rail, along with expansion of the T-REX project, 57 new transit stations and stops, 21,000 new parking spaces, 18 miles of a bus service between Denver and Boulder and the renovation of Denver Union Station as a multi-modal transportation hub. What are the main objectives of this project: they include similar goals from other initiatives mainly increasing transit-oriented development that will reduce sprawl, congestion and pollution.

While originally budgeted at $4.7 billion, it has ballooned to up more than $7 now. What happened? Once again, the usual problems of stalled negotiations with an existing infrastructure, economic impact of 2008 recession, inflation in cost of materials and delays in construction have made Denverites to wait for this project even more. With budget cuts, driver shortages and declining ridership among the existing transit lines, the state leadership has to definitely take a call if they want to focus on existing ridership or continue develop Denver FasTrack.

An overview map of the project (Image Credits: Denver Infill)