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The Patient Room: what is the ideal solution? - Cornell University

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New York City Construction Costs: insight into increasing financial demands<br />

“<strong>The</strong> cost of new hospital construction <strong>is</strong> up 12<br />

percent per year, while renovation and alteration<br />

costs are escalating at roughly six percent per<br />

year.” (NYBC, 2010).<br />

New York City Building Congress, 2010<br />

Currently, average hospital construction in New<br />

York City runs at close to $600 per square foot,<br />

Boston and Washington D.C. are estimaged at<br />

$500-$555 per square foot, and Los Angeles and<br />

San Franc<strong>is</strong>co are at $380-$400 per square foot<br />

(New York Building Congress, 2010).<br />

Although th<strong>is</strong> represents <strong>the</strong><br />

construction costs for New York<br />

City schools, <strong>the</strong> same parallel and<br />

linear relationship can be drawn for<br />

Hospitals built in NYC, except with<br />

even higher construction costs.<br />

28

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