Brooklyn in the Midst of Historic Building Boom
According to figures released by the census bureau, New York City is currently in the midst of its biggest residential building boom in decades, half of which is occurring in Brooklyn, with more building permits being issued in the first six months of 2015 than any other year dating back to 1963.
The Wall Street Journal 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.
declasse' intellectual
So, buildings go up, prices go up, utilities costs soar, essential city services diminish, crime remains, safety is ignored, there are too many cars for the streets, no parking, overcrowding rules and so forth–so what else is new?????
From the liberal point of view
Tons of big time taxpayers with liberal leanings who aren’t interested in most blue collar crime. If someone was smart they would build a multilevel parking garage in crown heights – especially with optional valet service.
Rent is Rocketing
Hopefully some of this is affordable housing.