The view of West Chelsea from the roof of 540 West 28th Street, a new condominium at 11th Avenue, prompts a somewhat irrational question: what housing crash?

All around, construction is buzzing and the landscape is filling up with new buildings and warehouse conversions, funky and sleek condominiums, hotels, galleries and public spaces designed by big-name architects like Frank Gehry, Jean Nouvel, Richard Meier and Annabelle Selldorf. And other projects once trapped in limbo by the mortgage and construction financing crises are moving ahead.

In the last four years, 27 residential projects have come on the market in West Chelsea, a submarket of Chelsea that runs from 14th to 30th Street, west of Ninth Avenue, according to an analysis by Streeteasy.com. A building boomlet that began a decade ago intensified after the rezoning of residential use of a 15-block area and the beginning phases of the High Line park.