The Pandemic Slowed Housing Construction in New York City; What's Next?

While new affordable housing kept pace with previous years and overall housing production picked up in the latter half of 2020, building permits remain relatively low in the first several months of this year, portending an uncertain future for the city’s housing stock.

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Mayor de Blasio at a housing construction site (photo: Ed Reed/Mayor’s Office) Last year, as the pandemic crushed the economy and public life, annual new housing construction in New York City dropped by 4,600 units to 20,200, the lowest since 2015, according to the city Department of City Planning. […]

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