Although the number of permits fell to 479 from the 509 pulled a year ago, the dollar value went up. Year to date, some 5,280 multifamily unit permits had been filed through October, down 4.2% fewer from the 5,543 through October of 2000.
Dollar volume, however, totaled $56.39 million in October, 48.8% more than the $37.9 million figure in October of last year. Luxury condos, and apartments renting at an average of more than $1,500 per month, fueled the price spike.
Permits for new commercial construction, including retail and office buildings, amounted to $51.17 million in October -- up 13.6% from the $45.04 million in October 2000.
New commercial construction amounted to $416.9 million for the first 10 months of 2000, flat from last year's $416.7 million.
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