The 234 Apartment

The value of new construction starts in July advanced 6% from the previous month to a seasonally adjusted annual rate of $728.1 billion, it was reported by Dodge Data & Analytics. Leading the way was a 26% jump by the nonbuilding construction sector , which reflected an improved level for public works and the start of two massive power plants , located respectively in California and New York. Residential building in July increased 8 %, as multifamily housing rebounded after three consecutive monthly declines .  Running counter was a 7% slide for nonresidential building following its 14% hike in June, as both office buildings and hotels retreated from June’s elevated activity , outweighing a sharp rise for healthcare facilities in July.  During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago.  Dampening the year-to-date performance for total construction was a steep 44% decline for t...

The value of new construction starts in July advanced 6 % from the previous month to a seasonally adjusted annual rate of $728.1 billion, according to the most recent report from Dodge Data & Analytics.   Leading the way was a 26% jump by the nonbuilding construction sector , which reflected an improved level for public works and the start of two massive power plants in California and New York.   Residential building in July increased 8 %, as multifamily housing rebounded after three consecutive monthly declines . Running counter was a 7% slide for nonresidential building , following its 14% hike in June, as both office buildings and hotels retreated from June’s elevated activity , outweighing a sharp rise for health care facilities in July.   During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago. Dampening the year-to-date performance for total construction was a steep 44% declin...

WASHINGTON — Homebuilders pulled back sharply on construction of apartment complexes in July, causing housing starts to tumble to a three-month low. The Commerce Department said Wednesday that housing starts fell 4 .8 percent in July to a seasonally adjusted annual rate of 1.16 million. Groundbreakings for multi- family buildings such as apartments slumped 17.1 percent, while single- family house construction slipped 0 .5 percent. Home construction has increased 2.4 percent year-to-date, but the gains have done little to offset the dwindling number of homes listed for sale. The shortage of properties for sale has pushed prices up at a faster pace than income growth, making home ownership less affordable for many would-be buyers. Stephen Stanley, chief economist at Amherst Pierpont Securities , said that because of the lack of homes on the market "builders are attempting to meet that need but are hamstrung to a degree by shortages of skilled workers" and land restrictions...

DEVELOPMENT Apartment tower in Bay Village wins approval An apartment tower in Boston’s Bay Village neighborhood cleared a key hurdle this week when it was approved by the city’s Zoning Board of Appeals. Despite concern from some residents that the 199-foot building was out of scale with the low- slung brick neighborhood behind it, ZBA members voted unanimously Tuesday to approve the project. Transom Development wants to put 133 apartments on what’s now a surface parking lot and empty lot alongside the Revere Hotel. They hope to start construction in spring of 2018. — TIM LOGAN TRANSPORTATION Peter Pan reaches settlement in disabilities discrimination case A Massachusetts bus company accused of discriminating against passengers with disabilities has reached a settlement with federal prosecutors that resolves the allegations. The US attorney’s office in Boston said Wednesday that Peter Pan Bus Lines Inc. violated federal law by failing to ensure its motor coaches were access...