Real Estate Weekly
Image default
Construction & Design

Planners believe infrastructure lagging as city continues to attract bigger employers

While New York continues to draw global industry, it’s roads and bridges are not keeping pace, according to a new survey.

CoreNet Global New York City and New Jersey Chapters (CoreNet NYC and NJ) surveyed executives from the built environment professions and found that most believe the Gateway Project should begin immediately.

“We’re seeing that companies heavily rely on commuters, no matter where they are traveling from,” said Sheena Gohil, president, CoreNet Global NYC.

“While the volume of commuters varies between New York and New Jersey, the importance of streamlined travel is crucial to the New York metro area’s economic health.”

The study finds that more than 89 percent of New York companies believe that access for employees commuting into New York from New Jersey is significant.

Meanwhile, more than 68 percent of New Jersey-based companies also find that access for New York commuters traveling to New Jersey is significant.

Results show the reliance New York metro area companies have on commuters in both directions, as well as the economic benefit these commuters bring.

In line with this, both New York and New Jersey-based companies find that more than 90 percent of their employees rely solely on public transit connections.

The survey concluded that New Jersey Transit rail line and the PATH are the most widely used forms of transportation among commuters traveling into the New York metro area, showing the overwhelming reliance on rail for New York business. When asked about preferred modes of transportation, more than 75 percent of companies find that employees heavily rely on New Jersey Transit; 71 percent also heavily utilize the PATH. Ferries and cars, meanwhile, are the least utilized by commuters.

Despite the heavy reliance on rail travel, 73 percent of respondents believe that transit infrastructure is growing worse.

This is in line with the increasing urbanization of both companies and employees in the New York metro area, which has not been matched by a corresponding investment in infrastructure.

Nearly 59 percent of built environment leaders surveyed believe the Gateway Project should begin immediately, while another 31 percent think the project should begin within the next three years.

Related posts

AI and cloud adoption propel data center demand to record levels for 2023


DeSimone continues global expansion with latest UK acquisition


Rare green warehouse set to open in The Bronx