- Published on Tuesday, 09 April 2013 19:53
- Written by Super User
NEW HANOVER CTY - The new residential construction trend continues with more than $31 million construction dollars spent in March, raising the fiscal year total to more than $149 million. According to the latest construction activity report issued by the New Hanover County Development Services Center, the largest project permitted in March was a $1.7 million renovation for the 52,000 square foot Lowes Food Store located at 341 S. College Road in Wilmington. Other significant highlights include:
Residential New Construction
• A total of 59 new single family residential permits were issued in March, a 20 percent increase from same period in 2012.
• For this fiscal year to date, permits have been issued for 554 new single family units compared to 377 units during the same period in 2012 - a 32 percent increase.
Total Construction Comparison (March 2013 to March 2012)
• The overall number of inspections decreased by 4 percent.
• Construction permits issued decreased by 6 percent.
• Construction dollars spent decreased by 45 percent.
Total Construction Fiscal Year Comparison (2012-13 to 2011-12)
• Total construction dollars spent decreased by 5 percent.
Total number of permits issued increased by 2 percent.
• Total inspections for Building, Electrical, Mechanical, Plumbing, and Zoning increased by 9 percent.
• Permits issued at no cost for city and/or county government projects for this fiscal year-to-date increased to 12 percent of the total construction dollars spent, an 11 percent increase from last fiscal year. This increase is mainly due to the construction of the new Fine Arts Building on the campus of Cape Fear Community College.
• Total new construction dollars spent for residential construction totaling $149 million have now outpaced new commercial construction dollars spent by more than $61 million.
Projects in "Plan Review"
After issuing building permits in March 2013, totaling more than $31 million, there are 191 projects that remain in the plan review process exceeding $140 million. To date March ranks as the largest one month amount in plan review since FY08-09.
The complete construction activity report is available online at www.nhcgov.com