Construction Bonanza Continues in Hickory

HICKORY, NC-In the past two years, this city has seen an average $125 million in construction. Since January, the figure has reached $105 million, compared to $68.4 million for the same six months last year.

According to city officials, the level of residential development has been steady in the number of homes built, about a house per day. For the past two years, construction activity has added an average of $125 million to the city’s tax base in both residential and commercial development.

More than 400 new homes are built each year, according to city records. A big percentage of that is apartments, townhouses and condominiums built mostly in the Northeast and Northwest sections of the city. Commercial and industrial developments continue to drive development in the Southeast and Southwest districts.

During the next five years, the city sees large-scale retail development along US 70 slowing to some extent. Restaurant and hotel development is expected to continue in the Southeast. The city anticipates the addition of two hotels, an office tower and three restaurants in 2001.