New York City has awarded a $1 billion construction contract to Skanska for the first phase of SPARC Kips Bay, a life science and education campus in Midtown East. The project will span 600,000 square feet and include educational facilities for CUNY and NYC Public Schools, along with public open spaces. Future phases will include life science space, medical facilities, and flood protection. Expected to be completed by 2031, the development aims to generate $42 billion in economic benefits over 30 years and create 3,100 permanent jobs.
SPARC Kips Bay
