Building boom goes bust for the borough
Tuesday, December 26th, 2006For 1st time in 14 years, numbers of permits for new construction could drop below 1,000 mark
The number of new building permits in the borough fell by 44 percent through November, the sharpest drop in 14 years and the biggest decline citywide, according to Buildings Department figures.
For the first time since 1992, the number of permits issued for new buildings here is expected to hover below the 1,000 mark for the year.
Permits from January through November stood at 754; December figures are not yet available. Last year, 1,345 new building permits were issued during the same time period. For all of 2005, the number of new building permits topped out at 1,441.
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