LADBS issues $1.3 billion of building permits in FY quarter ending Dec. 31

By
Mark Buckshon
-
0
1238
232 w second la
The Omni Times Square redevelopment with a $264 million construction value was the largest project permitted in the most recent quarter by the LADBS.

The Los Angeles Department of Building and Safety (LADBS) says the city issued $1.3 billion in building permits between Oct. 1 and Dec. 31, 2021 (second Fiscal Year quarter), a decline of about 13 percent from the $1.5 billion in permits issued in the same period in 2020. Overall the city expects that it will issue 163,000 permits this fiscal year, valued at $6.2 billion.

While the overall volume of permits declined in the past quarter, the number of permits issued increased by 8 percent from the 36,143 in 2020 to 39,164 last year.

The largest project in the quarter is a 53-story mixed-use apartment building at 232 W. Second St., valued at $264 million. The Omni Times Square redevelopment project has been controversial, in part because of its limited number of affordable housing units.

See the complete statistical report provided by LADBS:

Year-To-Date Statistical Comparison
Second Quarters 2020-21 and 2021-22
  Construction Indicator FY 2020-21 Q2 FY 2021-22 Q2 % Change FY 2021-22
Budget Projections
Building Permit Valuation $1.5 Billion $1.3 Billion -13% $6.2 Billion
Number of Permits 36,143 39,164 8% 163,000
Number of Plan Checks 16,372 16,873 3% 68,000
Inspections Performed 226,272 232,491 3% 961,000
LA’s Top 5 Affordable/Supportive Housing Projects

Based on Construction Valuation

Permitted between Oct. 1, 2021 and Dec. 31, 2021
Project Address Construction Valuation Project Description
3000 N. Main Street $17.5 Million New construction — Proposed 5-story, 97-unit, mixed-use apartment building.
11701 W. Santa Monica Boulevard $17.5 Million New construction — Proposed 5-story, 51-unit, mixed-use apartment building.
1800 E. 1st Street $15.0 Million New construction — Proposed 4-story, 44-unit, apartment building.
10401 W. Washington Boulevard $14.8 Million New construction — Proposed 8-story, 112-unit, mixed-use apartment building.
5440 W. Franklin Avenue $12.5 Million New construction — Proposed 5-story, 87-unit, mixed-use apartment building.
LA’s Top 5 Construction Projects
Based on Construction ValuationPermitted Between Oct. 1, 2021 and Dec. 31, 2021
Project Address Construction Valuation Project Description
232 W. 2nd Street $264.0 Million New construction — Proposed 53-story mixed-use apartment building.
6300 W. 3rd Street $86.2 Million New construction — Proposed eight-story, 311-unit mixed-use apartment building.
1066 S. La Cienega Boulevard $75.0 Million New construction — Proposed 28-story, 290-unit mixed-use apartment building
200 N. Central Avenue $51.9 Million New construction – Proposed six-story, 248-unit apartment building.
842 S. Grand Avenue $50.0 Million New construction — Proposed 19-story, 329-unit mixed-use apartment building.

RELATED ARTICLESMORE FROM AUTHOR

LEAVE A REPLY

Please enter your comment!
Please enter your name here

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.