OUR VIEW: Permits record is good sign for future
Published 3:37 pm Friday, November 29, 2019
A record level of building permits for 2019 is good news for our local economy and a sign of new businesses coming in the near future.
While it is true that the $11.5 million new downtown Pfeiffer building makes up a solid chunk of the $32 million total, it also shows the importance the facility rising over Five Points is to our city.
There is certainly good news in the report other than the Pfeiffer project.
A $7 million apartment complex is being built on Woodhaven Drive. Albemarle has struggled with a lack of apartment availability. This should help that issue and bring more residents into the city.
The city has also seen the most single-family home permits since 2012. This is a solid indicator that people want to live here. Hopefully the 18 recorded so far this year will be a number we can build on in the future.
The growth isn’t confined to Albemarle. The county’s permit values have increased by 41 percent, or $33 million. The county has seen 133 more building permits this year than last year.
And then there is Locust, which has had a great year of growth as well with 141 new housing permits as the Charlotte metro growth ring appears to finally be pushing toward the eastern boundary of Mecklenburg County toward Stanly. Overall, Locust has seen a 76 percent increase in new permits.
All of this growth will allow the area to maintain low tax rates and continue to attract new business.
The solid growth is good news for the county and cities. The Pfeiffer project and other growth factors have provided some momentum that can be built on as we move into the next decade.