Renovation and development just got harder between Amsterdam Avenue and Riverside Drive from 109th to 119th Streets with the creation, Tuesday, of a Morningside Heights Historic District.
The value of residential construction citywide fell from $19.5 billion in 2015 to $11.5 billion in 2016, although it was still higher than the five year average, the Building Congress reported yesterday. Commercial construction increased slightly.
New offices may not be as much in demand, however, according to a report from Green Street Advisors that said New York City added only 21,700 office jobs last year, compared to 44,900 in 2015, and that only small increases are predicted through 2018.
A Manhattan Supreme Court Judge yesterday rejected property owner Kamran Hakim’s challenge to the Worst Landlords list, saying that even though the buildings cited were vacant, they might still be dangerous to potential squatters.
Federal immigration policy is a housing issue too. Twenty-two percent of construction workers are estimated to be foreign born; and legal and illegal immigrants have created 450,000 households needing housing a year–most of it rental–for the past 20 years. Jerry Howard, President of the National Association of Home Builders, will talk about this and other key federal housing policies under the Trump Administration at 8:45 a.m. March 21st in the Javits Center to keynote our BuildingsNY trade show. Register today.