Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO-Multifamily, commercial and industrial construction permit activity in San Diego County fell during the month of May, according to a report.

The Construction Industry Research Board report found that permits for 240 multifamily units were issued in May, less than half the 581 permits issued during the same period a year ago. The dollar volume for the permits totaled $27.4 million, down sharply from the $98.2 million a year ago.

So far this year the county has issued permits for $279 million in multifamily constructioin, down 12.7% from the same time a year ago.

Office and retail permit activity was down in May as well, according to the report. Developers haven’t been in a rush to pull permits for new product, with hundreds of thousands of square feet of sublease space on the market and hundreds of thousands more already in the construction pipeline.

Builders pulled permits for $28.8 million in office and retail construction in May, down 17.3% from a year ago. However, new commercial permits year-to-date are still running ahead of last year’s levels, totaling$204 million worth of permits through May–up 8.82% from the first five months of 2001.

Industrial construction is nearly flat: new industrial construction permit volume totaled just $3.1 million in May, less than one-third the $9.51 million reported a year ago, according to the CIRB.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.