May Building Permits

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From the City of Central

    Building permits continued at a brisk pace in May within the city of Central. A total of 13 new residential permits were issued.  The total valuation of these permits was $3,467,124. 

    Within these permits, four were issued in Village Lakes with an average valuation of $259,386; four in Woodstock with an average valuation of $251,842; one in Village at Magnolia Square with a valuation of $302,170; one in Morgan Springs with a valuation of $165,230, and one in Northwoods valued at $316,602.  There were two permits issued on private parcels of land around the city with an average valuation of $319,103.  So far this year, a total of 65 new residential building permits have been issued.

    One of the homes permitted in Village Lakes subdivision will be the home for this year’s Children’s Miracle Mansion.  The 3900 sq. ft. home is being donated by the developers and is being constructed by KM-Ron Builders and 4 others (see article on facing page.  No building permit fees were collected on this home.

    Also, Rabalais Homes last week purchased 19 lots in the Village Lakes subdivision for $1.07 million. The builder bought the lots from Titan Development Holdings, which developed the neighborhood off Magnolia Bridge Road. Steve Rabalais says his firm already purchased 15 to 20 lots in Village Lakes. Rabalais says the homes will sell for between $240,000 and $350,000.  Rabalais is a local Central resident.

1 Comment

  1. Mike Mannino

    June 2, 2011 at 8:12 pm

    Lets see, we are on pace to build ~ 125 homes this year. We have 1500 lots now approved in Central. At that rate, it will take ~12 years to fill these lots. Do you think we may be approving too many subdivisions ? As average Joe, I kinda think so but what do I know ? Also a little quoted stat lately that was big news last year is that average cost per sq ft in Central has dropped from $135 to about $115.Many foreclosures in All 4 of the major new developments. That may tell us something but again, I’m just average Joe and what do I know ?

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