Not since 1963 have so many construction permits been issued. In fact, permits issued in the month of June alone exceeded the average annual total over the past two decades.
"New York City is entering what could be the biggest building boom in a generation, census figures show, as work gets under way on hundreds of residential projects in neighborhoods across the city," reports Josh Barbanel.
"In the first six months of the year, developers received new residential building permits for 42,088 apartments and houses in the city, according to the U.S. Census Bureau, already more than in any full year since 1963, when nearly 50,000 permits were issued," adds Barbanel.
Barbanel credits the surge in construction permits to a financial incentive in the form of an expiring tax break: "The surge in permits this year followed a rush by developers to start foundation work on many residential projects by June 15, in time to qualify for a valuable property-tax abatement that was scheduled to expire."
The article goes on to provide more details about the 421-a tax abatement program that led to the surge in construction. Barbanel also notes a cautionary tale to be invoked by the mention of the program: "In June of [2008], when permits also surged, benefits of an earlier version of the 421-a tax abatement were expiring. Developers rushed to begin construction, even before obtaining financing. When the financial crisis hit that fall, many projects simply stopped."
FULL STORY: Construction in New York City Goes Through The Roof [paywall]
Scandal: Large-Scale Developments Approved Without Architect's Involvement
A New York Times investigation has revealed evidence of a development company repeatedly misleading the New York City Department of Buildings.
Developers Rush to Build in Final Days of Philly's Tax Abatement
Neighborhoods that have been stubbornly resistant to investment for decades are suddenly the scene of waves of permitting activity as the city of Philadelphia prepares to tighten its tax abatement program.
The 'Building Boom' Myth
Contrary to popular myth, New York is not drowning in new housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning
SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.
The Tiny, Adorable $7,000 Car Turning Japan Onto EVs
The single seat Mibot charges from a regular plug as quickly as an iPad, and is about half the price of an average EV.
Seattle's Plan for Adopting Driverless Cars
Equity, safety, accessibility and affordability are front of mind as the city prepares for robotaxis and other autonomous vehicles.
As Trump Phases Out FEMA, Is It Time to Flee the Floodplains?
With less federal funding available for disaster relief efforts, the need to relocate at-risk communities is more urgent than ever.
With Protected Lanes, 460% More People Commute by Bike
For those needing more ammo, more data proving what we already knew is here.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)