REAL ESTATE : Building Permits for Offices Decline 25% in First 5 Months of ’91
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The decline in construction of commercial buildings continues in Southern California, including Orange County.
According to a report by the Construction Industry Research Board, building permits for offices fell 25% in the county during the first five months of this year, to $81 million from $108 million for the same period in 1990.
For Southern California as a whole, permits dropped 35% from a year earlier.
Industrial buildings also took a dive: In Orange County they dropped 51%, from $39 million to $19 million.
For the region, the drop was 44%.
Building permits for stores fell 34% in Orange County, to $58 million from $89 million, according to the report.
For the region, the decline was 35%.
Hotel and motel permits fell 92% in the county, from $16 million to $1 million. Boosted by building in Los Angeles and San Diego, however, permits rose 34% across the region.
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