One choke point in the process is a period known as predevelopment: After developers have finalized plans but before they can start construction, they have to get the proper permits.
The report found that as of October, there were more than 47,100 units in this category. More than 30 percent had been there for more than five years, indicating “they are likely stalled or may never begin construction at all.”
The slow pace is sometimes the result of laws and regulations designed to protect the public. They can involve detailed, complicated requirements for electrical systems, mechanical systems and plumbing, which Ms. Gerhards said could take up to three years to meet — a time period during which the rules can and often do change, altering construction plans.
baitline. An appropriate one:
Real Estate robber barons want to the government to hurry up approving unsafe suburbs so they can resell them hazardously and bank on premiums.
Now imagine if Mamdani eminent domains apartment lords to resell units as condos.
