Permits for new apartments see record 2016 first half

The city of Madison issued 19 building permits for new apartments totaling 1,116 units in the first half of the 2016, representing a record number of multifamily permits handed out since 2005, according the The Capital Times.

The number of projects receiving permits between January and June 2016 more than doubled the previous high for the same six-month time period. The total combined apartment unit count was also 74% higher than during the same period in 2015.

Multifamily projects approved during the first part of 2016 varied from six units to 367 in size and from $700,000 to $62 million in cost.