Q4 2024 Construction Pipeline Report

In Q4 2024 there were 366 new building filings, reflecting a 12% increase from Q3 2024 when there were 326 filings, but a 58% decrease year-over-year. The spike in Q4 2023 was due to 501 of the 879 permits being for one- to three-family homes in Staten Island, likely driven by compliance with Local Law 154 of 2021, which prohibits the use of fossil fuels for heating and hot water in new one- and two-family homes by January 1, 2024.