New Construction News
Builder confidence was steady in May, carrying over April’s reading of 83 for another month, according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index.
The 19-hole Oaks Golf Course will be replaced with 142 single-family houses, 190 townhomes, 360 apartments and 143,000 square feet of retail space.
Lumber prices have tripled over the past 12 months, driving up the price of the average new single-family home by $35,872. NAHB hopes to alleviate the situation by meeting with the White House, lawmakers and others.
Low mortgage rates and low inventory levels are making the demand for homebuilding more attractive to buyers in Atlanta.
The NAHB attributed the monthly increase in its construction spending index to single-family construction and single-family improvements, both of which rose by 2% on a monthly basis. Multifamily construction, meanwhile, declined 0.3% after falling 0.9% in February.
The five-story, wood-frame building will be located on the future Westside Beltline Trail and one mile away from the Westside Reservoir Park at Bellwood Quarry.
The national homebuilder will tear down five older single-family houses to make way for the new master-planned community.
Station 496, as the project will be known, will bring 123 affordable-housing units to Boulevard Northeast when it opens in 2022.
The new basement-ready sites will be available this summer.
The development, to be known as Morrison Park, would be built on an undeveloped 25-acre parcel at the intersection of Haynes Bridge Road and Morrison Parkway.