Hundreds of residential, office projects across Massachusetts face uncertain future
Friday, June 25th, 2010The Great Recession slammed builders across the Bay State, forcing them to put an array of projects on hold, from new subdivisions to office parks.
Now local builders and developers face a double-whammy. The economy is slowing brightening, but many of the town and state permits builders need to move ahead these long-delayed projects are now in danger of expiring.
So the Home Builders Association of Massachusetts has launched an 11th hour legislative blitz in hopes of convincing Beacon Hill to ride to the rescue.
The trade group is urging its members to call their local lawmakers and urge them to pass a three-year extension of all residential and construction permits doled out between Jan. 1, 2008 and this coming January.
Without this bill, hundreds of projects could see their permits expire, requiring builders and developers to start the often torturous approval process all over again.
And, as we all know, getting a new project approved, especially in Greater Boston, can take months if not years.
NAIOP Massachusetts, which represents developers across the state, has been pushing for a permit extension for a couple years now.
But the clock is now running out, with the Legislature getting ready to pack it up come July 31st.


