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| New York City In Midst Of Biggest Residential Building Boom In Decades (1304844) | |||
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New York City In Midst Of Biggest Residential Building Boom In Decades |
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Posted by Dave on Thu Jul 30 12:43:57 2015 New York City - According to figures release by the census bureau, New York City is currently in the midst of its biggest residential building boom in decades, with more building permits being issued in the first six months of 2015 than any other year dating back to 1963.WSJ.com (http://on.wsj.com/1eCB906) reports that to date 42,088 residential building permits have been issued, with 17,804 issued in June alone, a sign industry insiders say, that developers were responding to the June 15 expiration of the 421-a tax abatement which said that construction must begin by that date. Almost half of the permits issued in June were for residential construction projects in Brooklyn, with the other half evenly split between Manhattan and Queens. Richard T. Anderson, president of the New York Building Congress, called the figure “astounding,” saying the building boom will have “all kinds of implications” for the city moving forward. |
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