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Apartment Construction Permits Slow in October

SAN DIEGO-Apartment construction permit activity weakened somewhat in October, according to the Construction Industry Research Board. Although the number of permits fell, the dollar value went up.

By Randyl J. Drummer | Updated on November 29, 2001

SAN DIEGO-Multifamily construction permit activity weakened somewhat in October, according to the Construction Industry Research Board.

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.

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