Dive Brief:

• The construction industry trade organization for New York City, the New York Building Congress, said it expects construction work in 2014 to total $31.5 billion.
• If the estimate proves to be correct, this will be city's first year of activity over $30 billion since 2010.
• Richard T. Anderson, Congress president, said that with the new estimate, “we are virtually back” to healthy commercial construction in New York City.

Dive Insight:

Anderson said it will take until 2015 for the industry to be "fully back" to pre-recession levels, but the current estimate is "reassuring." The commercial construction report comes at the same time as another report that states residential building in the city has slowed.