New York City’s healthcare construction spending is growing as hospitals expand services and update aging facilities, according to an article on The Wall Street Journal website.
A recent report from the New York Building Congress said that hospitals in the city spent more than $6 billion on construction from 2013 through 2015 and are expected to spend $8.2 billion from 2016 through 2018.
NewYork-Presbyterian and NYU Langone Medical Center each spent $500 million to $600 million on construction in 2014 and 2015.
The sector’s construction spending will add about 2 million square feet of hospital space from 2016 through 2020, the report said.
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