Commercial Property Executive
 is out with an analysis on how President Biden’s infrastructure proposals could have an impact on commercial real estate. 

Spending money on infrastructure will stimulate the economy better than direct payments to people. “When we spend a billion on infrastructure, it goes a lot of places like roads, bridges, tunnels. It stimulates a lot of manufacturing. It stimulates a lot of truck drivers and deliveries,” said economist Hugh Kelly, curriculum chair at the Fordham Real Estate Institute.

Kelly pointed to a major regional infrastructure project: The Gateway rail tunnel project between New York City and New Jersey, which is considered a high priority for the Biden administration to fund. It also has a potential broader regional impact because it serves Amtrak’s routes in the Northeast.