Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, October 18, 1994 TAG: 9410180116
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE: RON BROWN STAFF WRITER
DATELINE: LENGTH: Medium
The figure is based on building permits purchased through last week.
County Administrator Gerald Burgess said he expects the value of permits to exceed $35 million by year's end. That would be about a 17 percent increase over 1993, when yearly building permits topped $30 million for the first time.
Botetourt County is the acknowledged new muscle in the Roanoke Valley's development, touting reasonably priced, developable land that's attracting homeowners and businesses feeling cramped in the valley's urban core.
"The market out here has become accepted and desirable," Burgess said.
The remainder of the Roanoke Valley also is experiencing a building boom, based on building permit sales. At the end of September, Roanoke, Roanoke County and Salem had issued permits for construction valued at $121.9 million. That figure reflects permits for the first nine months in Roanoke and Roanoke County and those through August for Salem, whose building officials have not yet completed the September report.
That total represents a 32 percent gain over the nine-month total of $92 million a year ago for the three jurisdictions.
Richard Whitney, incoming president of the Roanoke Regional Homebuilders Association and president of Fralin & Waldron Inc., said he is seeing no surge in residential building.
"There must be some commercial projects out there," he said.
The biggest and most obvious is the $42 million Hotel Roanoke renovation and construction of an adjacent conference center.
Low interest rates are encouraging others, including churches, to make needed repairs, Whitney said.
Building in Roanoke County remains "constant and stable," said Arnold Covey, the county's director of engineering and inspections.
"We've been busy," said Covey, who said he also sees no surge.
In Botetourt, there has been market-driven growth of new housing while the county government has sought to increase its commercial and industrial tax base by developing industrial sites around Cloverdale and the U.S. 220 Alternate corridor.
At the beginning of the year, about 10 percent of the county's tax revenue came from commercial businesses and industry. The county Board of Supervisors would like to see that increased to about 15 percent to alleviate the tax burden on homeowners, Burgess said.
The county's building totals were bolstered earlier this month when a $1 million building permit was obtained for a Holiday Inn Express motel near Exit 150 of Interstate 81 at Troutville.
The motel is expected to attract satellite businesses. County officials confirmed that the Cracker Barrel restaurant chain has expressed preliminary interest.
Burgess said two industries - Sematco Inc. and Hydraulic and Pneumatic Systems Inc. - which previously announced intentions to relocate in the county, are expected to obtain about $1 million in permits, and he expects a permit to be issued for a shell building, valued at $750,000, at the county-owned East Park Commerce Center.
by CNB