Housing Permits
There has been an Increase in housing permits in the Charlotte region over the last year according to The Market Edge. The Market Edge is a marketing research company that tracks residential building permits in several Southeastern regions. This is positive news, but we are not yet at levels seen in 2015.
Overall there was 9% growth in the entire Charlotte region. There were some counties that saw larger growth than others. Lincoln, Stanley, and Rowan counties had the largest growth. Cabarrus, York and Lancaster counties were the only counties with fewer new housing permits.
Mecklenburg County had the most new building permits for homes over $400,000. They had 487 of them, a 36.4% rise over 2015.
Zoning Changes
There have been many zoning changes on the docket for City Council, but none quite so contentious as Foxcroft City Homes. This proposed residential development is seeking a rezoning from R-3 to UR-2 conditional. R-3 allows three single-family units per acre. UR-2 allows denser, attached residential development.
Neighbors have mobilized against the development on Sharon Lane between Providence Road and Heathmoor Lane. They are afraid the zoning change could set a precedent for high density development in an area of single-family homes.
The proposed homes are said to be targeted at empty nesters looking to downsize. Neighborhood residents question this assertion as the homes are going to start at 3,400 square feet with a price point around $1 million. There is also no age cut off for residents so the target of empty nesters has been called into question.
A third city council hearing on this matter may settle it once and for all. The property will be developed, but it remains to be see if it will be single-family homes on two cul-de-sacs or if the zoning change goes through to allow 24 townhomes in 12 buildings.
If you are interested in new construction in the Charlotte area, call us at (704) 525-4045. We can help you find just the right property for your needs. You can also view listings on our website here.