- Published on Tuesday, 12 March 2013 20:24
- Written by Super User
NEW HANOVER CTY - The strong residential construction trend continues with $130 million in construction dollars spent for this fiscal year. Construction dollars in Feburary 2013, totalling more than $65.5 million, ranks as the highest one month total since July 2010.
According to the latest construction activity report, issued by the New Hanover County Development Services Center, the largest project permitted in February was a $37 million Fine Arts Building at Cape Fear Community College located at 704 N. 3rd St. in Wilmington.
Other significant highlights include:
• Residential New Construction:
A total of 63 new single family residential permits were issued in February, a 21% increase from same period in 2012.
For this fiscal year to day, permits have been issued for 495 new single family units, compared to 330 units during the same period in 2012 - a 34% increase.
• Total Construction Comparison (Feb. 2013 to Feb.
2012): The overall number of inspections decreased by 4%.
Construction permits issued increased by 4%.
Construction dollars spent increased by 110%.
• Total Construction Fiscal Year Comparison (2012-13 to 2011-12):
Total construction dollars spent increased 2%.
Total number of permits issued increased 3%.
Total inspections for Building, Electrical, Mechanical, Plumbing, and Zoning increased 11%.
Permits issued at no cost for city and/or county government projects for this fiscal year-to-date increased to 12% of the total construction dollars spent.
Total new construction dollars spent for residential construction remains at 11% over commercial construction dollars spent.
• Projects in "Plan Review"
After issuing building permits in Feb. 2013, totaling $65.5 million, there are 172 projects that remain in the plan review process, totaling $92 million.
The complete construction activity report is available online at www.nhcgov.com