clock menu more-arrow no yes

Filed under:

Shovels Down! Building Permits Hit Decade Low in 2009

New, 4 comments

We've seen plenty of anecdotal evidence since the end of the boom that new residential construction just hasn't been happening. Now the New York Building Congress crunches some census data to come up with actual hard numbers, which confirm that new residential construction, er, just hasn't been happening. There was an 82 percent decline in the number of permits the Department of Buildings issued for new residential units in 2009 compared to 2008. Permits were issued for 6,057 units, a low for the decade. (The next-worst year was 2000, when 15,050 permits were issued.) The boroughs stack up mostly as expected, with a 92 percent drop in permits issued for Brooklyn units and an 86 percent decline in Manhattan. The one surprise came from the Bronx, which led the boroughs in number of units given permits. Signs of the apocalypse?
· New York City Residential Building Permits Declined by 82 Percent in 2009 [NYBC]