Quote:
Originally Posted by chris08876
Updated the 1st post to include "C"'s latest list (Jan 27th).
The list with the active links/ status in post #1026 can be found in the 1st post of this thread.
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Thanks!
Some interesting insights into construction trends using building permit data.
Below are top 10 municipalities from Jan 2020 to Sept 2020. JC is growing quickly at an average of 345 new housing units each month. Not bad for the middle of a pandemic. JC averaged 390 units a month in 2019 and 208 units a month in 2018. It also looks like JC is building much more multifamily units in 2020 than 2019.
Interesting to note that in 2020, 95% of all new housing developments were classified as multi units. In 2019, only 54% of all housing built was reported to be multi-family, but I'm a tad skeptical of the accuracy of the 2019 data for this field.
Between Journal Square and Downtown alone, there are roughly 25,000 units approved that can be built.
That represents a 6 year supply of housing units. Also, the number of new units being approved by the planning board each month greatly exceeds the number of building permits issued every month.
Other notable insights is that little Harrison is punching above its weight class. I'm guessing this is all related to the Red Bull arena redevelopment.
Code:
Municipality Total Units MF Units MF Value
Jersey City 3,110 2,960 433,561,369
Harrison town 1,153 1,130 97,726,114
Hackensack 792 787 77,638,475
Newark 949 780 87,997,417
South Amboy 692 687 32,357,866
Secaucus town 642 635 97,749,900
Union township 467 460 24,994,674
Bayonne 389 342 20,606,364
Woodbridge twp 336 310 32,690,812