YIMBY’s 2020 New Building Report, covering 2019’s numbers, showed a substantial increase in applications, with 2019’s total filings reaching 36,467. This year, the numbers have dropped somewhat, with 2020’s submitted residential units totaling 30,036. While this was a decrease, it was still substantially above the 2018 total of only 20,393 new units filed, indicating that in spite of the profound headwinds beginning in March of last year that are now seemingly abating, permitting activity remained fairly vigorous. The full report covering 1,774 new buildings and over 57 million square feet of new floor space is available in Excel format upon purchase of YIMBY’s Building Wire subscription.
Articles by Vitali Ogorodnikov
During the third quarter of 2020, spanning the period from July through September, developers expressed confidence in the city’s long-term economic future, as evidenced by the 446 building permits filed during the period, nearly matching the 476 filings in the second quarter. Between these applications, which cover all types of projects, the new residential buildings permitted totaled 5,638 units, a decrease from 9,309 the previous quarter, and a drop from 8,063 units submitted in Q3 of 2019. Despite the drop in residential units entering the pipeline for the Five Boroughs, overall permitting activity remains relatively vigorous, and all filings are available in Excel format at the following link.
The second quarter of 2020, without a doubt, has brought more upheaval to New York and the United States at large than any period since September of 2001. However, in spite of all of the challenges, the city is continuing to grow: 476 new building permits were filed in the three-month period from April through June, spanning 9,309 multi-family units, with the full rundown of all the new developments in Excel format available at the link. While this was down somewhat from Q2 2019’s 12,123 residential unit filings for the same time period, it was still up substantially from 7,010 filings during Q2 of 2018, indicating that New York City’s economic engine remains revving.
Twelve years after its initial proposal, Star Tower at 27-17 42nd Road in Long Island City is finally approaching completion. In 2007, the 26-story, 184-unit tower was slated to star as the tallest and largest apartment development in the Court Square District. Today, the building gets lost amid the newly emerged constellation of high-rises, yet a series of design transformations have produced a final product far superior to the original. The finely crafted façade, designed by JDS Architects, projects a refined modernism and balances contextual reference to its glass-walled neighbors with subtle stylistic expression.
At the end of 2018, residents began moving into the 467 units at ALTA LIC. The 44-story high-rise, located at 29-22 Northern Boulevard, was designed by the Stephen B. Jacobs Group and developed by partners Simon Baron Development and Quadrum Global. Only ongoing interior work at the 11,372-square-foot retail space reminds passersby of recent construction. Already taller towers rise next door, however ALTA’s pivotal location, expressive façade, and distinctive crown assure the skyscraper’s enduring prominence on the rapidly-growing Long Island City skyline.