How are Alabaster’s housing, commercial markets faring?

 

By NEAL WAGNER / Managing Editor

ALABASTER – The city’s commercial market has surged ahead of last year’s numbers, while Alabaster’s housing market is nearing 2016 numbers, according to data recently released by the Alabaster Fire Department’s Planning and Safety Division.

City Council members reviewed year-to-date numbers through the end of October, which is the most recent data available, during a late-November meeting.

In October, the city issued three new home building permits for projects valued at a total of about $1.3 million, bringing the year-to-date total to 67 new home permits for projects valued at a total of about $19.6 million through Oct. 31.

In comparison, the city had issued 88 new home permits for projects valued at a total of about $20.7 million through the first 10 months of 2016.

Alabaster is on track to meet or exceed 2016’s year-end numbers for new home permits this year, as the city issued a total of 101 permits last year, 100 in 2015, 77 in 2014, 61 in 2013 and 57 in 2012.

Residential addition and remodel permits have surged since last year, according to the Planning and Safety Division.

Through Oct. 31, the city had issued a total of 232 such permits for projects valued at a total of about $4.3 million. During the same timeframe last year, the city had issued 190 such permits for projects valued at a total of about $3.1 million.

The commercial building market has skyrocketed since last year, according to the Planning and Safety Division.

Through the end of October this year, the division had issued 15 new commercial building permits for projects valued at a total of more than $9.2 million. During the same time period last year, Alabaster had issued 11 permits for projects valued at a total of about $5.4 million.

Commercial addition and remodel projects have also seen a significant rise in value. Through October, the city had issued 33 such permits for projects valued at a total of about $4.2 million, compared to 46 permits last year for projects valued at a total of about $2 million.