Joe Anuta at Crain’s New York Business  lays out the permit situation for building construction, which reached 18,000 units in 2013.
Citywide, 2013’s figure is still shy of the 20,000 units the congress estimates developers need to build annually simply to keep up with the growth of the number of households, to replace outdated buildings and to provide housing options for New Yorkers across the income spectrum.
With all the construction going on right now, it isn’t enough to:
- Keep pace with population growth.
- Help lower the cost of housing by creating abundant supply.