Two subdivision plans under recent review by New Hanover County officials are adding to a growing inventory of single-family residential lots in the Wilmington area. 

More homes are expected in Hanover Reserve, a neighborhood off Murrayville Road with space for more than 330 houses on at least 135 acres, and 166 single-family lots, plus 72 multi-family units, on more than 95 acres are included in plans for a community called Riverside off Castle Hayne Road.

The number of lots available or becoming available is welcome news for local homebuilders, even as they recognize that eventually such lots will become scarce in New Hanover as development continues.

"During the recession we did not see a lot, if any, subdivisions approved, which in turn did not add any new inventory into the New Hanover County market," said Cameron Moore, executive officer of the Wilmington-Cape Fear Home Builders Association. "However, this trend seems to have turned now."

Moore said just in the past 18 months, city and county planning panels have seen a noticeable increase in activity. He said that based upon approved subdivisions tracked through the planning processes in the city and county, about 4,000 lots have been approved.

"I would say that about half of these lots are in what I would call a more active phase, meaning that they are actively moving forward, putting infrastructure in the ground, and in some cases, homes are already being constructed," Moore said. "To me, these numbers represent that the market is starting to really respond to the demand for more lots, which in turn is helping to provide more stability to the residential market."  

Moore said other factors that are providing a boost to the industry are that "banks are starting to lend again, particularly on the builder financing side, and employment numbers are on a more positive trend as well."