City Council to vote on extending permits for stalled development projects

New York /
Oct.October 13, 2009 09:17 AM

A new law would allow developers to renew expired building permits if they adhere to strict safety requirements while their construction projects are on hold, City Council members announced Monday. Currently, developers have only 12 months before their suspended or not-yet-begun construction plans lose their permits, but the new Department of Buildings program would extend that period to four years, provided a detailed safety monitoring and inspection plan is implemented. The program is intended both to aid struggling new developments and to maintain safety in the areas surrounding stalled project sites, said City Council speaker Christine Quinn, who made the announcement. “If these sites are not properly maintained, they can become safety hazards to residents and even havens of criminal activity,” Quinn said. “Our legislation will require enhanced site maintenance while construction is halted and allow projects to avoid delays when economic conditions improve.” A vote on the proposal is scheduled for Wednesday. [Crain’s]


Related Articles

arrow_forward_ios
Hong Kong Stock Exchange (Getty)
Investors sell off Chinese real estate stocks
Investors sell off Chinese real estate stocks
124 South Middle Neck Road in Great Neck, Long Island and Hornig Capital Partners Managing Partner Daren Hornig (Google Maps, Hornig Capital)
Size, security, transparency: Great Neck apartment project delayed following local pushback
Size, security, transparency: Great Neck apartment project delayed following local pushback
Ardie Tavangarian (Photo by Kevin Scanlon)
LA’s gentleman builder on developing for the ultra-wealthy
LA’s gentleman builder on developing for the ultra-wealthy
495 Hoffman Lane in Hauppauge and Beechwood Organization CEO Michael Dubb (Google Maps, Belmont Child Care)
Luxury senior living could replace shuttered Hauppauge school
Luxury senior living could replace shuttered Hauppauge school
66 University Place (Google Maps)
Grove Press building to be pulverized by luxury condo development
Grove Press building to be pulverized by luxury condo development
A rendering of River Ring with Two Trees CEO Jed Walentas (BIG, Getty)
CB1 approves Two Trees’ River Ring, keeping project on pace
CB1 approves Two Trees’ River Ring, keeping project on pace
The Closing: Nancy Ruddy
The Closing: Nancy Ruddy
The Closing: Nancy Ruddy
City won’t landmark Grand Prospect Hall, clearing way for demolition
City won’t landmark Grand Prospect Hall, clearing way for demolition
City won’t landmark Grand Prospect Hall, clearing way for demolition
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...