Amarillo 2012 permits over $440 millionAmarillo 2012 permits over $440 millionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=85892013-01-11T14:40:00Z2013-01-11T08:01:00Z

AMARILLO - The City of Amarillo issued permits for $440.9 million in projects in 2012, the highest mark since 2005, when the city permitted projects worth $454.8 million, according to an AGN Media analysis of city data.

The 2012 year-to-date total shot way up in December, with $115 million in projects permitted by the city that month alone, according to Karr Ingham, Happy State Bank economist.

The city issued permits valued at a combined $70.3 million in December for The Residences at Town Square, four multistory structures featuring 480 apartments and ground-floor stores and restaurants planned by The Williams Group of Amarillo.

The buildings will be part of a Town Square neighborhood that developer Perry Williams said will, over the next ten to 15 years, contain at least 1,200 single-family home lots. Town Square will cover currently vacant land stretching northwest from Soncy Rd. at Hillside toward Southwest 45th Ave. and Ascension Academy.

Single-family homes represented the largest single component in Amarillo’s 2012 construction spending, according to Ingham. Crews launched 530 homes with a combined value of $131.6 million — almost a third of the $440.9 million total.

During the past decade, Amarillo typically has had 500 to 600 home starts. The most homes permitted in a single year was 758, which occurred during the record permit year of 2005.

Amarillo Building Permit Summary
Year Total Permits Construction Value
(in millions)
2012 3,013 $440.9
2011 3,109 $276.2
2010 3,409 $384.3
2009 2,737 $383.7
2008 2,566 $408.9
2007 3,063 $407.8
2006 3,172 $387.2
2005 4,987 $454.8

Read more at the Amarillo Globe-News.

Amarillo Globe-News
http://amarillo.com/news/local-news/2013-01-10/building-amarilloRead more at {Source}

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