May 31st - June 4th, 2010

West Thames Park reopens

June 1 – The park underwent an eight month, multi-million dollar rehab, according to The Battery Park City Broadsheet Daily. Also know as Tire Swing Park, it now has new playground equipment, a water sprinkler, new lawn and garden plots, a picnic area, basketball courts and of course, a tire swing.

Construction Projects Increase with Public Spending

June 1 – The New York Building Congress says thanks to public sector spending on infrastructure and non-residential construction, the building industry avoided a nosedive last year. However, President Richard Anderson said, “The industry’s short-term prospects are tenuous as a return to peak construction and employment are dependent upon the strength of the economic recovery and the ability of government to continue investing in the face of large deficits.”

Large Insurer Moves, but Stays in FiDi

June 1 – Home Insurance Co. leased more than 23,000 square feet at 61 Broadway. Asking rents in the building range between $34 and $37. According to The New York Post, the company relocated from Maiden Lane.

Lawyers in the 9-11 Case Agree to Lower Fees

June 1 – Attorneys representing thousands of ground zero workers have told the judge in the case that they will cap their fees at 20% or $115 million. US District Judge Alvin Hellerstein had rejected the $657 million dollar settlement negotiated this spring because the lawyers wanted a third of the settlement as their fee.

National Construction Spending Increases

June 2 – Spending on construction was up 2.7% in April - its biggest jump in almost a decade, according to the Commerce Department. The numbers show gains in all major sectors of construction including housing, government construction and private construction.

Brooklyn Bridge Rehab Near Start

June 3 – Vice President Joe Biden was on hand to mark the start of a $508 million painting and construction project on the span, which is now 127 years old. The fix-up, according to The Daily News, means shutting down the Manhattan-bound lanes most nights between 11 pm and 6 am.

Engineering Firm Signs for More Space at 40 Wall Street

June 3 – Haks Engineers agreed to a 10 year lease at the Trump Building, according to Crain’s. The firm increased its space by about 11 thousand square feet at a cost of $37 to a total of approximately 44,000 square feet. The firm recently hired 100 people.

Midtown Market Showing Signs of Recovery

June 3 – Cushman & Wakefield reported 2.6 million square feet of office space was leased in May, the highest level of activity in four years.