Last year was another great year for construction in Branson, but city officials are not as optimistic about 2009.
For the fourth consecutive year, the city of Branson has eclipsed the $100 million mark in the value of new construction. Figures released this week by the city’s planning and development department show a total of $102 million in new construction for 2008.
“The city had a very good year for construction,” said Jerry Adams, Branson’s public information director. “There were some very big projects built in 2008.”
While down from the $117.9 million in 2007, city officials are pleased with last year’s total in light of the national economy being hobbled by the real estate bust, a faltering financial system and crumbling consumer confidence.
“Construction permits started slowing down about the same time the country began feeling the economic crunch,” Adams said. “We had a very slow last three months of the year.”
Adams said from January through September, the city approved around $97 million in construction permits.
From October through December, the city approved just $5 million in construction.
“We only had $1.1 million in new construction in December,” Adams said. “It’s been a really slow winter.”
He added that city officials are not looking for strong construction numbers in 2009.
“With the economy the way it is, I would say Branson will most likely not break the $100 million mark next year,” Adams said. “I have heard developers talking about how financial institutions are a lot more stingy when it comes to loaning money. The first quarter of 2009 will be very interesting.”
He added that there are no “large projects” being reviewed by city officials.
“The city’s growth in 2009 will be slow and steady as developers remain cautious and look at what the economy will do,” he said.
February was 2008’s top month for new construction with $18.4 million in building permits issued.
Three large apartment developments were started in 2008 to help provide additional housing for Branson’s work force.
They include Turtle Creek, located on Missouri 248; Village Green, located on the 2800 block of Shepherd of the Hills Expressway; and Ridgecrest residences, located at 2000 Bird Road.
According to a press release from the city, these three developments will add 420 housing units to the market.
Million dollar commercial projects permitted in 2008 include:
- Hampton Inn on Branson Hills Parkway
- Shrine of the Holy Spirit attraction on Expressway Lane
- Books-A-Million, Bed Bath and Beyond and Best Buy, all in Branson Hills
- Castle Rock Water Park on Green Mountain Drive
- Pointe Royale Golf Course reconstruction
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