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Back You are here: Home News Local and State News Local Construction Spending up 350 percent from FY2011-12

Construction Spending up 350 percent from FY2011-12

NEW HANOVER CTY - Construction dollars spent in June climbed to almost $106 million closing out the fiscal year with $576.9 million. This is an increase of $128 million over the $449 million spent during FY2011-12.  
More than 2,303 permits were issued, a 23 percent increase over the number of permits issued last fiscal year.
According to the latest construction activity report issued by the New Hanover County Development Services Center, the largest projects permitted in June was nine apartment complexes with a combined total of 445 units, totaling almost $60 million.
The projects will be located on Old Maccumber Station Rd., Pepys Ln., and Amaryllis Dr.
Other significant highlights include:
Residential New Construction
• A total of 97 new single family residential permits were issued in June, a 23 percent increase from same period in 2012 and the largest one month total since FY2005-06.
• For this fiscal year permits have been issued for 802 new single family homes compared to 524 units during FY2011-12.
Total Construction Comparison (June 2013 to June 2012)
• The overall number of inspections increased by 13 percent.
• Construction permits issued increased by 23 percent.
• Construction dollars spent increased by 350 percent.
Total Construction Fiscal Year Comparison (2012-13 to 2011-12)
• Total construction dollars spent increased by 28 percent.
• Total number of permits issued increased by 5 percent.
• Total inspections for Building, Electrical, Mechanical, Plumbing, and Zoning increased by 9 percent.
• Total construction dollars spent for new residential construction totaling $242.3 million is up sharply from $140.6 million.
Projects in "Plan Review"
After issuing building permits in June 2013 totaling more than $105.6 million, there are 241 projects that remain in the plan review process exceeding $90 million.
The complete construction activity report is available online at www.nhcgov.com
Source: New Hanover County.