Armada Hoffler Properties, Inc. (NYSE: AHH) announced today that it will invest in Nexton Square, a new open-air lifestyle center currently under construction in Summerville, South Carolina. Located at the entrance to a new 4,500 acre master-planned community, Nexton Square will serve as the retail gateway to over 10,000 new single-family and multifamily residential units…
South Carolina Housing Hall of Fame inducts two new members: Michael P. Nieri and J. Coleman Shouse
The South Carolina Housing Hall of Fame trustees inducted Michael P. Nieri from Columbia, S.C. and J. Coleman Shouse from Greenville, S.C. into the prestigious honor society last week for their work in and support of South Carolina’s home building industry. Both men were presented the trademark medallion and plaque during a ceremony on July…
Report Finds 9.5% Premium for High Performance Homes in North Carolina
North Carolina Building Performance Association (NCBPA), the state’s trade association for building performance companies and professionals, announced today the release of its third annual energy efficient, green and high-performance home and building report. The report identifies 34,152 high-performance homes and buildings being built or retrofitted in the state in 2016 and finds a 9.5% price…
Zillow Predicts Suburban Sprawl to Return in 2018
Those hoping for relief from the ongoing inventory crisis won’t find it in 2018. Next year, current homeowners will look to remodel their homes rather than sell, further limiting inventory, and with limited space to add new homes in city centers, suburban sprawl will make a return. Newly built homes will be designed with both…
Millennials and Factors Driving Multi-family Construction
I’ve spent my career building partnerships with owners and developers — particularly those in the multi-family market. I have seen the ebb and flow of the sector. Recently, I had a chance to sit down with a few of my largest developers and discuss the challenges they face. These include rising costs and a shortage…
McCrory Awarded Construction for Major Expansion at The Crossings at Columbia
McCrory Construction announced it is constructing a 140,000-square-foot expansion at The Crossings at Columbia, a deluxe senior living community conveniently located in Northeast Columbia. The three-story addition will more than double the square footage of the existing assisted living and memory care facility on site, and will add an independent living component not previously offered….
Housing Production Drops 2.6 Percent in April, as Multifamily Starts Fall
Led by a decline in multifamily production, nationwide housing starts fell 2.6 percent in April to a seasonally adjusted annual rate of 1.17 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Multifamily starts fell 9.2 percent to a seasonally adjusted annual rate of…
Builder Confidence Continues on Upward Trend
In a further sign that the housing market continues to strengthen, builder confidence in the market for newly-built single-family homes rose two points in May to a level of 70 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the second highest HMI reading since the downturn. “This report shows…
New Master-Planned Community To Be Developed in Little River, SC
The former Bay Tree Golf Plantation, which closed in 2006, will soon become one of the area’s premier lifestyle communities. Wakefield Development Company, based in Virginia Beach, Virginia, purchased the property (located off Hwy. 9) in 2007. Plans for development were halted during the recession due to market conditions. In the last two years, Wakefield…
Builder Confidence Strong in April
Confidence amongst the nation’s home builders is strong according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence in the market for newly-built single-family homes remained solid in April, falling three points to a level of 68 on the after an unusually high March reading. “Even with this month’s modest drop,…
