New Hanover County’s construction sector finished strong for the year in December, particularly with new single-family housing starts.
The county issued 601 permits for new single-family construction in 2012 – exceeding 2011’s total of 421 permits for new single-family construction and signaling a housing rebound for the county.
According a report recently released on construction permits by the New Hanover County Development Services Department, 47 new single-family permits were issued last month – the same as a year earlier – for a total valuation of $12.7 million.
It was the most new single-family housing permits issued by the county’s development services department for new home construction since December 2006 when 80 permits were vetted. In December 2007, as the region’s housing sector began cooling, New Hanover County issued 17 permits for new single-family construction.
In all, New Hanover County officials issued 1,282 permits in December – also the same total of permits issued in December 2011.
The largest project permitted in December was for Wilmington-based Live Oak Bank’s $8.4 million, 36,000-square-foot headquarters at 1741 Tiburon Drive in Tiburon Parc – a 105-acre mixed-use development between Independence and Shipyard boulevards.
While the number of permits remained unchanged last month from a year earlier, construction spending slightly increased.
More than $27.8 million in construction investment was recorded last month – a more than 4 percent increase from $26.6 million recorded December 2011, according to the county report.
In November, county officials issued 1,484 permits, representing more than $25.9 million in construction investment.
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