College Station-Bryan economic outlook bright

COLLEGE STATION-BRYAN – The College Station-Bryan area showed positive signs of growth in 2012 according to Real Estate Center at Texas A&M University researcher Jim Gaines.

Home sales in the area were up 17 percent for 2012 compared to 2011. The median home price went up 2.5 percent. Single-family building permits went up 30 percent in 2012, and multifamily permits rose 17 percent. Furthermore, they rose 191 percent from 2010 to 2011.

"Will we overbuild a little bit? Generally we do," Gaines said. "The economy doesn’t work that smoothly, so there will be a little bit of that, but right now, my understanding is the units being built are being leased."

In Northgate, 3,000 additional residents are set to move into the area in the next two to three years with things like The Stack residential building. In all, the city expects $500 million to $1 billion in investment over the next two decades.

Downtown Bryan continues to be a visible sign of growth. Since 2002, $25 million in infrastructure investment has helped make for a $98 million market value increase. Nineteen new businesses have come to downtown since 2010.

Read more at KBTX.