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Multifamily Construction Hit Hard in September

ORANGE COUNTY, CA-According to new research, the number of construction permits issued in September dropped more than 50% from August's level of 264. October's results, when tabulated, could show an attitude change.

By Erin Cassin | Updated on October 26, 2001

ORANGE COUNTY, CA-Construction activity in the county’s multifamily sector dropped significantly in September from its steady summer levels, as multifamily developers reacted to the Sept. 11 attacks and a weakened economy.

The number of construction permits issued in September dropped to a mere 89 from 264 in the previous month, according to a recent report by the Burbank-based nonprofit Construction Industry Research Board. “There was definitely a break in the number of permits issued on Sept. 12 and 13 and the level of activity didn’t come back for a week or so,” says Ben Bartolotto, CIRB director. He says that some multifamily developers have postponed projects as a result of the attacks.

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