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New York - New York City In Midst Of Biggest Residential Building Boom In Decades

Published on: July 30, 2015 10:45 AM
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FILE -  Construction activity at the Hudson Yards development in New York, New York, USA, 28 May 2015. EPAFILE -  Construction activity at the Hudson Yards development in New York, New York, USA, 28 May 2015. EPA

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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Read Comments (9)  —  Post Yours »

1

 Jul 30, 2015 at 11:10 AM albroker Says:

so in other words NYC will get even more crowded and unbearable, resembling Calcutta.

2

 Jul 30, 2015 at 12:13 PM puppydogs Says:

Reply to #1  
albroker Says:

so in other words NYC will get even more crowded and unbearable, resembling Calcutta.

Making more room for all the illegals

3

 Jul 30, 2015 at 12:07 PM Maven Says:

Nice. And where is affordable housing for the average joe? where are our so called askonim in Williamsburg and Boro Park?

4

 Jul 30, 2015 at 12:50 PM Bezalel Says:

Reply to #1  
albroker Says:

so in other words NYC will get even more crowded and unbearable, resembling Calcutta.

We already have hordes of beggars on every street and in every shul.

5

 Jul 30, 2015 at 12:58 PM ayoyo Says:

Nothing is being done about our over 100 year old transit system. There was an elevated train on every major avenue in manhattan ,3RD. AVE 4TH 6, 7, 8,9 AND 10 there were 30 ferries to manhattan and the population was much smaller These streets were laid out when the mode of transportation was horse and buggy. The streets weren't meant for parking cars at all ,the hansom cabs and waggons were parked in carriage houses or garages.

6

 Jul 30, 2015 at 03:14 PM sane Says:

Reply to #3  
Maven Says:

Nice. And where is affordable housing for the average joe? where are our so called askonim in Williamsburg and Boro Park?

Doing their houses.

7

 Jul 30, 2015 at 06:43 PM cookookajew Says:

Reply to #1  
albroker Says:

so in other words NYC will get even more crowded and unbearable, resembling Calcutta.

agreed. can someone plase explain why they dont build parking into these things!!!

8

 Jul 30, 2015 at 07:26 PM Proud_To_Be_American Says:

7 years into the Bush administration, the housing market tanked.
The Republican economy failed us and got us into the Great Recession.

7 years into the Obama administration, the housing market flourishes.
The Democratic economy is doing us good.

Since our President, B.H. Obama, took office,
* The economy has added nearly 7.9 million jobs, and the unemployment rate is now lower than the historical median.
* Business establishment start-ups have increased by 20 percent, and the number of job openings is the highest in more than 14 years.
* The purchasing power of weekly paychecks is up 2.6 percent
* U.S. oil production is up 94 percent.
* Wind and solar power are up 252 percent.
* U.S. dependency on oil imports is down to the lowest point since the 1970s.
* New York City is currently in the midst of its biggest residential building boom in decades.
* New York City has more building permits being issued in the first six months of 2015 than any other year dating back to 1963

9

 Jul 31, 2015 at 09:10 AM puppydogs Says:

Reply to #8  
Proud_To_Be_American Says:

7 years into the Bush administration, the housing market tanked.
The Republican economy failed us and got us into the Great Recession.

7 years into the Obama administration, the housing market flourishes.
The Democratic economy is doing us good.

Since our President, B.H. Obama, took office,
* The economy has added nearly 7.9 million jobs, and the unemployment rate is now lower than the historical median.
* Business establishment start-ups have increased by 20 percent, and the number of job openings is the highest in more than 14 years.
* The purchasing power of weekly paychecks is up 2.6 percent
* U.S. oil production is up 94 percent.
* Wind and solar power are up 252 percent.
* U.S. dependency on oil imports is down to the lowest point since the 1970s.
* New York City is currently in the midst of its biggest residential building boom in decades.
* New York City has more building permits being issued in the first six months of 2015 than any other year dating back to 1963

The Obama House of Cards is about to collapse

10

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