The 353 permits pulled during September fell sharply from the 1,138 figure reported in September 1999, according to a report by thePasadena-based Construction Industry Research Board. The permit dollar volume for multifamily development amounted to $35.8 million last month, or less than half the $94.3 million recorded in September 1999.
Last year's numbers were particularly strong because of pent-up demand, an analyst for the research board said. Through the end of September 2000, however, a total of 5,034 multifamily permits were pulled, 10.8%fewer than the 5,642 for the same period last year.
About $25.4 million in new commercial construction, including both retail and office space, was recorded in September, compared to $23 million registered in September 1999, the research board reported.
Meanwhile, new industrial construction slowed to $137.5 million in the first nine months of 2000, 7.98% less than the $149.4 million loggedduring the same time last year.
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