Construction Report Shows Surge in Filings for Multifamily Housing
New York YIMBY recently issued its annual construction report, which includes all new development job applications filed with the Department of Buildings (DOB) from Jan. 1 to Dec. 31, 2018. In 2018, the total number of multifamily units filed with the DOB increased 70 percent from the prior year. There were 32,580 multifamily units filed with the DOB, beating 2017’s total of 19,180 units.
The Bronx saw the lowest percentage increase of any borough in impending new housing stock, with total submitted units rising 46.5 percent from 5,086 to 7,449. Queens had a 51.3 percent rise in total new units submitted to the DOB, with an increase from 5,154 to 7,798 units. Brooklyn was in the middle of the pack, with its 65.4 percent gain, translating into 11,864 units, the largest count of any borough.
Staten Island saw the second-highest relative gain. It experienced a 99.6 percent increase, reaching 1,026 from 514 new units. But Manhattan had the biggest relative percentage increase at 139.4 percent in submitted units, with a total of 2,465 units in 2017 to 5,902 units in 2018.