Relief for Midland housing shortageRelief for Midland housing shortagehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=96462012-09-12T09:38:00Z2012-09-12T00:00:00Z

MIDLAND - City officials estimate Midland is as many as 5,000 units short of housing it needs to meet current demand.

Between housing developments, planned apartment complexes and new hotel rooms, there are just more than 4,300 residential units in the works, according to Courtney Sharp, city manager.

The average price of a home sold last week was $242,800 — up from $212,000 during this time last year, according to Warren Ivey, president of the Permian Basin Board of Realtors.

While the number of homes on the market has increased, the average days for a home to remain on the market still is hovering between 35 and 42.

Weidner Apartment Homes is in the process of building a 290-unit complex, Pioneer Natural Resources is working to develop a 96-unit complex and a 210-unit complex, to be known as Midway Apartments, is planned for near ClayDesta, said Cameron Walker, planning division manager.

A smaller, 52-unit complex is being added near Illinois Ave. and Delmar St. and a low-income complex, the Playa del Pueblo, will bring 96 units to south Midland.

Kolt Development is in the process of creating The Wall Street Lofts, which will contain more than 100 units.

Through August, the city had issued building permits for 434 homes — more than were issued in all of 2010.

Midland Reporter-Telegram
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