Builder confidence was steady in May, carrying over April’s reading of 83 for another month, according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index.
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The 19-hole Oaks Golf Course will be replaced with 142 single-family houses, 190 townhomes, 360 apartments and 143,000 square feet of retail space.
The developer, Covington-based Infinity Homes and Development LLC, is also planning to build 143,000-
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Lumber prices have tripled over the past 12 months, driving up the price of the average new single-family home by $35,872. NAHB hopes to alleviate the situation by meeting with the White House, lawmakers and others.
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Low mortgage rates and low inventory levels are making the demand for homebuilding more attractive to buyers in Atlanta.
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The NAHB attributed the monthly increase in its construction spending index to single-family construction and single-family improvements, both of which rose by 2% on a monthly basis. Multifamily construction, meanwhile, declined 0.3% after falling 0.9% in February.
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The five-story, wood-frame building will be located on the future Westside Beltline Trail and one mile away from the Westside Reservoir Park at Bellwood Quarry.
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The national homebuilder will tear down five older single-family houses to make way for the new master-planned community.
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Station 496, as the project will be known, will bring 123 affordable-housing units to Boulevard Northeast when it opens in 2022.
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The new basement-ready sites will be available this summer.
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The development, to be known as Morrison Park, would be built on an undeveloped 25-acre parcel at the intersection of Haynes Bridge Road and Morrison Parkway.
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