So much for the stalled sites program

From The Real Deal:

Only a handful of developers who own the nearly 600 stalled construction sites in New York City are participating in a city program in which developers maintain their sites in exchange for an extension of their building permits, Robert Limandri, commissioner of the city's Department of Buildings, said this morning.

Owners of a dozen sites out of the 572 stalled sites the city is tracking are in talks with the city, Limandri said.

"We are working with about 12 different sites that are in the process of getting approved [for the city program]," he said. But he expected that number to rise in the next four months as the developers come up against the expiration of their permits.