Signs of Life: Stalled New Construction Rental Buildings in Manhattan Starting Up Again

The Manhattan rental market has seen its share of ups and downs of late -- or, more precisely, downs and ups -- but there may be some good news buried in the fact that, as Sarah Ryley reports at The Real Deal, several formerly dormant new rental apartment building developments have recently resumed construction. While eight of the 20 developments surveyed have moved away from apartment rentals to become retail or public buildings, 12 of the projects have found a way to get back online one way or the other. It's a ways away, of course, and we're probably looking at some more downs and ups in the real estate market before any of the work on these new rental apartment building projects results in any actual new rental apartments. But it's certainly reassuring to see some signs of life in the Manhattan rental market.