Last year was another great year for construction in Branson, but city officials are not as optimistic about 2009.<\/p>\n
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.<\/p>\n
“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.”<\/p>\n
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.<\/p>\n
“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.”<\/p>\n
Adams said from January through September, the city approved around $97 million in construction permits.<\/p>\n
From October through December, the city approved just $5 million in construction.<\/p>\n
“We only had $1.1 million in new construction in December,” Adams said. “It’s been a really slow winter.”<\/p>\n
He added that city officials are not looking for strong construction numbers in 2009.<\/p>\n
“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.”<\/p>\n
He added that there are no “large projects” being reviewed by city officials.<\/p>\n
“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.<\/p>\n
February was 2008’s top month for new construction with $18.4 million in building permits issued.<\/p>\n
Three large apartment developments were started in 2008 to help provide additional housing for Branson’s work force.<\/p>\n
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.<\/p>\n
According to a press release from the city, these three developments will add 420 housing units to the market.<\/p>\n
Million dollar commercial projects permitted in 2008 include:<\/p>\n