Last week was the 19th week of the calendar year, so we should have a pretty good understanding of how things are going at this point. But, before we dive into this, I noticed a problem with previous posts.
I had a typo in my year to date calculation, which caused me to include both all of last year plus this year during my year to date analysis. The weekly analysis was unaffected but my previous posts about year to date totals were completely, utterly wrong.
Last week saw 855 permits issued for a grand total of $93,949,720. That’s a 3% increase in the number of permits but a 42% decrease in the cost of construction as the week before last had 823 permits for $160,185,432.
To explore seasonality, the 19th week of 2017 had 811 permits for $49,519,430, so it doesn’t look like the season played a factor in the weeks totals.
Building Permits Issued Year To Date
For 2018, there have been 15,104 permits year to date and an estimated construction cost of $1,573,640,458. At this point last year, there were 13,341 permits for $884,594,849, which is actually a significant increase above the previous years.
My previous posts were hammering home how the spending boom was decreasing because I had such an enormous YTD total for 2017. I was wrong. These new numbers are correct.
What are the biggest construction jobs in San Francisco?
181 Fremont St, San Francisco, CA
Number of Permits: 10
Description: 181 Fremont is a newly built skyscraper that is selling luxury condos. It “opened” recently but these permits paint another picture of a job that’s not quite finished.
50 California St, San Francisco, CA
Number of Permits: 1
Description: 50 California is renovating the lobby on the 18th floor and based on the cost, it seems like it’s going to be one heckuva lobby.
Data courtesy of Local Insights