Construction values continue to rise in Cabarrus in the first quarter
CONCORD – The value of first quarter building permits in Cabarrus County was $11.4 million more than the same period in 2015 and more than double the value of 2014.
Cabarrus County issued 752 in the first quarter this year (January-March) with a total value of about $134.5 million, according to reports in the Cabarrus Construction Standards office.
That compares to 666 permits for the same period in 2015 with an estimated value of $123.1 million.
In first quarter 2014, Cabarrus issued 654 permits but the value was only $57.4 million. Other recent first quarter totals were: 2013, 603 permits for $78.5 million; 2012, 482 permits for $69.3 million; 2011, 420 permits for $45.2 million; 2010, 558 permits for $47.8 million; and 2009, 349 permits for $59.2 million.
A strong housing market
Single family construction remained strong in the first quarter with 351 permits issued worth $51.4 million. The first quarter single family detached (SFD) value has increased every first quarter since 2011.
The 2015 SFD total was 344 homes for $47 million. Other first quarter SFD totals were: 2014, 304 for $41.8 million; 2013, 272 for $38.2 million; 2012, 166 for $21.4 million; 2011, 118 for $16.6 million; 2010, 143 for $19.8 million; and 2009, 88 for $14.2 million.
Building in the City of Concord topped the housing boom with 163 permits issued in the first quarter. The estimated value was $21.2 million. Kannapolis had 83 homes permitted worth $11.8 million. In unincorporated Cabarrus County areas there were 44 permits worth $9.2 million. Harrisburg had 51 permits with a value of $7.8 million. Midland had nine new homes worth $1.7 million. There was one other permit issued for $115,000.
The biggest permit issued so far this year was $20.7 million for construction at 4541 Enterprise Dr. in the International Business Park in Concord. A $2.1 million permit was also issued at Owens-Corning, 4535 Enterprise Dr.
A third project was permitted in the International Business Park at 4350 Fortune Ave. It is estimated at $1.3 million.
Two new charter school buildings got under construction this year. Cabarrus Charter Academy, currently on Poplar Tent Road, is expanding to a new building at 7550 Rueben Linker Road, off Weddington Road. The permit value is $12.4 million.
Kannapolis Charter Academy is being built at 1911 Concord Lake Road. That permit is worth $5.75 million.
Hendrick Motorsports Inc. received a $7.1 million permit for work at 5388 Stowe Road. That is at the racing complex off Morehead Road.
Several permits were issued in the Concord Mills area. The largest were two at Christenbury Corners at the corner of Derita Road and Christenbury Parkway. The address is 3020 Derita Road and appears to be a new McDonald’s. The permits total $7.775 million.
More work is underway at 8525 Pitts Stop Court (directly across from Concord Mills Mall). That permit was valued at $937,947.
Cabarrus County issued a permit for $2.795 million for work at 7040 Northwinds Dr., the same development where Amazon is located near Concord Regional Airport.
Windshear, which operates a wind tunnel, received at $900,000 permit for construction at 1050 Ivey Cline Road.
A $1.57 million permit was issued for 1331 S. Cannon Blvd., near the intersection of Dale Earnhardt Boulevard in Kannapolis.
Three permits were issued for building on Ross Circle in Mount Pleasant. The total value was estimated at $1.79 million.