[chris08876]

This is good news for the Bronx! Although I don't think the 2016 figures will be anything like 2015. (Citywide)

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The Bronx Dethrones Brooklyn for Most Residential Permits Issued

The Bronx is up, but the rest are down.

In the first 6 months of 2016 — after the expiration of the state’s 421-a tax break program for developers — The Bronx emerged as the borough with the most residential construction action, according to a report from the New York Building Congress released Thursday.

The Bronx led all boroughs with the number of permitted units, seeing more than 1,900 units authorized to be built under the Department of Buildings, according to the analysis using census data.

Things might be busier in The Bronx, some housing experts believe, because much of the development there is subsidized through the city's department of Housing Preservation and Development and with tools other than the 421-a program, which was launched during the fiscal crisis of the 1970s to encourage new residential construction by offering developers tax breaks.

More than 43 percent of the units that began construction in the first six months of this year under Mayor Bill de Blasio's ambitious affordable housing plan, for instance, were in the Bronx, according to HPD data obtained by DNAinfo New York.

So while many market-rate developments might be on hold, like the big mixed-use waterfront projects in Astoria, for instance, many projects in The Bronx — armed with other city subsides— can still move forward.

Brooklyn came in with the second most units authorized for construction with nearly 1,400, according to the Buildings Congress report. The borough had led the city four years in a row and had a whopping 26,000 permitted units last year.

Next came Queens with 1,200 units, Manhattan with 820 units and Staten Island with 620 units.

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https://www.dnainfo.com/new-york/201...al-development