New York, NY - Housing Construction Up 515 Percent

New York, NY - A analysis of census records shows that building permits for more than 31,000 residential units were issued last year. That's a huge jump from the roughly 5,000 units built in 1995. The 2005 total is up 25 percent from 2004 and 87 percent from 2001.

The neighborhoods seeing the greatest growth are Chelsea-Clinton in Manhattan, Greenpoint and Williamsburg in Brooklyn, and the Rockaways in Queens.

The New York Building Congress, which is a trade organization, estimates that another 30,000 units will be built in the city each year through 2008.