Bronx housing construction down

Permit applications for new residential developments plummeted by 33 percent in the Bronx last year, according to a city report. The city issued permits for 3,104 new residential units in the Bronx in 2007, compared with 4,658 in 2006. Despite the drop, a record dollar amount was invested in the Bronx last year according to the borough president’s office: more than $925 million was spent on housing projects, compared to $713 million in 2006 and $237 million in 2002. Borough President Adolfo Carrion’s office said that plenty of renovations were done and more “substantial structures” were built last year, such as multi-family apartment buildings on smaller parcels and more costly elevator buildings.