According to New York City Council Speaker Christine Quinn, on Commercial Real Estate Politics, “The City Counsel will vote on Wednesday on a law that would create a Department of Buildings program to allow developers to quickly restart work at stalled construction sites once the real estate market rebounds.”
This law will allow renewals of building permits at stalled construction sites for up to four years after they expired.
Under current law, construction permits expire after 12 months of suspended or abandoned work.
The building department has identified 541 stalled construction sites across the five boroughs so far this year.
Obviously, the permits should be issued after a complete inspection, not only from a safety angle but structural integrity as well.
It is a very commendable action and should serve as an example of good will for all our municipalities across the land.