While YIMBY normally covers aggregate new building applications on an annual basis, this year, we have released our first mid-year pipeline report, and the results are surprisingly positive. After two years of declining applications following the frenzies of 2014 and 2015, the preliminary numbers for 2018 appear to be signaling a major uptick in activity. Year-over-year filings of new residential units have grown substantially, rising from 9,134 in the first six months of 2017, to 15,305 in 2018 — an increase of 67.5%.
Permits have been pre-filed a 35-story mixed-use high rise at 185 Broadway in Manhattan’s Financial District. This is the largest development filed for the area in 2018, at least, so far. The site is located right in the center of the neighborhood, near just about every major train line on the subway system, with the Fulton Street transport hub situated across the street. SL Green Realty is responsible for the project.
A new 14-unit condominium project designed by GE-T Architect is coming to 21 Powers Street, in Williamsburg, off the Metropolitan and Graham subway stop. The site is being developed by Minrav Development. The new project will have one- and two-bedroom units that average from $775,000 to upwards of around $1.55 million. The main exterior facade will have a clean and simple masonry setup , including large decorative steel pieces between the second and third floor of vertically grouped casement windows.
The Brownsville Arts Center and Apartments will become the first of three developments included in a $1 billion infrastructure and affordable housing plan to reshape and invigorate the Brownsville, Brooklyn community. The site is on Rockaway Avenue and Chester Street.
Permits have been filed for an eight-story residential building at 531 Tinton Avenue in Mott Haven, The Bronx. The site is three blocks from the East 149th Street Subway Station, serviced by the 6 trains. Rainbow Development is responsible for the project.