Number of stalled new york city construction projects rising steadily in 2010
Brooklyn Remains Home to Nearly Half of Stalled Projects Citywide;
Residential Sector is Responsible for Three-Quarters of Stalled Projects
Despite signs that the broader economy is recovering from the previous recession, an analysis of stalled building sites suggests that the construction industry is lagging behind. As of October 2010, work was stalled at 692 construction projects on average throughout New York City, according to a New York Building Congress analysis of Department of Buildings (DOB) inspection records.
The number of stalled sites has risen in each of the ten months of this calendar year. In addition, the 692 stalled sites represent a 52 percent increase from a year ago.
Among the five boroughs, Brooklyn was home to an average of 319 stalled projects in October, or 46 percent of the Citywide tally.
Queens contains the second highest level of stalled construction projects, with 153 (22 percent of Citywide total). It is worth noting that the number of stalled projects in the Borough has increased only by 19 since October of 2009.
The number of dormant sites in Manhattan, however, has doubled from an average of 66 in October, 2009, to 130 (19 percent of the Citywide total) in October 2010.
Staten Island has tripled its number of stalled construction sites, from 20 to 60, over the past year (9 percent of Citywide total). The Bronx continues to fare best with 30 projects (4 percent) stalled Borough-wide, up from 22 a year ago.
According to further Building Congress analysis of DOB permits and Department of Finance records, residential projects continue to dominate the stalled project list. Of the projects where work was started and subsequently halted, 67 percent are residential, with the majority falling in the multi-family category. No other category of building accounts for as much as five percent of the total.
The Building Congress also found that 36 percent of the stalled sites Citywide remain vacant, meaning that developers have obtained land and construction permits but have yet to commence work.
"The City's stalled construction sites serve as a highly visible reminder of the recession's impact, but they also offer the opportunity to create jobs and spur economic development," said New York Building Congress President Richard T. Anderson. "These sites represent thousands of units of new housing, additional commercial and industrial space, several hundred million dollars in unrealized investment, and thousands of jobs for a construction industry battered by the recession."
Mr. Anderson added, "Mayor Bloomberg and the City Council have taken some steps that will make it easier to unlock the potential of these stalled sites, but given the slow pace of economic recovery, a more concerted effort is necessary to get the construction industry back to work and help stimulate the City's economy."
Charts and Diagrams
Source: New York City Department of Buildings
Raw Data
