Dino Tomassetti Jr. of Asset Realty shares the latest update on construction developments in New York City.  And he has big news. 

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New York City Mayor Bill de Blasio announced that the city would be restarting $17 billion of capital construction projects as part of its pandemic recovery effort. During a press conference, Lorraine Grillo, Mayor de Blasio’s Senior Advisor for Recovery, mentioned that 1,700 construction projects would be given the green light.

Dino Tomassetti Jr. learned that the reboot would not only be an opportunity to put architects, engineers, and construction professionals back to work after being sidelined by the global health crisis.  It will also allow the city’s minority- and women-owned contractors and small construction businesses to re-staff.

After the COVID-19 pandemic came to the U.S., New York’s water, sewer, and infrastructure projects, which were deemed essential, continued.  However, in late March 2020, the New York City Department of Design and Construction directed firms with contracts for design services for city-backed projects to put these projects on hold.

Dino Tomassetti, Jr. believes that the $17 billion initiative will highlight the construction industry’s important role in helping New York City recover.

The work in the city’s five boroughs includes:

  • Building more school capacity in underserved and overcrowded districts
  • Affordable housing construction
  • Coastal resiliency and climate change-related projects
  • The Vision Zero initiative that zeroes in on roadway safety
  • Parks
  • Major library projects
  • Repairing, replacing, and upgrading sewer and wastewater management infrastructure.

According to Dino Tomassetti, Jr., Grillo deserves much of the credit, having only been leading the city’s recovery for barely a month.  She had been with the New York City School Construction Authority for almost 30 years, most recently as president and CEO.  Grillo was not only brought on to drive the capital construction program but the city’s economic recovery in general.

During her career with the city, Grillo has coordinated almost 4,000 capital building projects and managed $28 billion in budgets.  Her work includes the delivery of more than 89,000 K-12 and universal pre-K public school seats, the reopening of 71 schools damaged by Hurricane Sandy, the opening of 35 universal pre-K centers in less than six months, and the development of public-private partnerships for school construction.

With this restart spearheaded by Grillo, Dino Tomassetti, Jr. points out that the recovery of New York City is well on its way and that residents and business owners of the city have a lot to look forward to in the coming months and years.

Dino Tomassetti, Jr., is a successful real estate developer who started in construction.  He has completed several construction projects and has expanded his portfolio to include some of the most high-profile developments in the New York Metropolitan Area.  His new company, Asset Realty & Construction Group, Inc., combines his construction and real estate expertise.  For similar reads, click here.

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