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Construction Growth Continues
Multifamily development in Sarasota and Manatee counties fell this year. But single-family construction continued to grow.
It may appear a contradiction given all the highly visible condominium construction in the Sarasota-Manatee area, but multifamily development slowed down this year.
According to The Construction Guide, through the third quarter of the year ended Sept. 30, multifamily starts fell by 35% (or 78 starts) compared to the same period last year. Similarly, multifamily permitted total values declined by 46% from $207 million to $112.3 million this year.
At the same time, other categories of construction type grew by both starts and value through the third quarter of the year. Single-family construction grew the most: Starts were up by 25% (or 1,182 starts) and the total value of the construction grew by more than $242 million or 65.3% from 2002.
The result was that the total number of construction starts and the permitted value of the new construction both grew considerably versus the same period last year. The total number of starts increased by 1,690 or 18% from 9,277 starts in third quarter of 2002 to 10,967. Construction values experienced less of a jump, but gained 13% - $173.4 million - to $1.555 billion.
However, the construction growth was highly regionalized. Of the 11 regions studied, six experienced an increase in construction starts while only five regions saw an increase in the value of new construction.
The remaining regions were significantly (more than 10%) lower than last year.
Not surprisingly the fastest growing region was North Port, which is expected to become Sarasota's most populated city over the several years. Even though North Port saw a decline in residential additions and duplex and multifamily construction, its total starts grew by 49% to 2,031 starts, up 666 from the same period a year earlier. The value of new construction in North Port was 38% higher, at $175.8 million, up about $48 million from $127 million. There was a noticeable increase in single-family home and pool starts; the city gained 553 homes and 165 pools more than last year.
In contrast, Anna Maria Island, Bradenton, Bradenton Beach, Holmes Beach, Palmetto, and Sarasota all saw their total starts and construction values decline sharply. The drop in multifamily construction proved important in the decline in construction starts and value for all but one (city of Sarasota) of the regions. Bradenton had only two multifamily projects this year compared to 37 projects reported in the same period last year. The value of multifamily construction projects in Bradenton declined by $46.7 million from $47.2 million to $485,000.
Palmetto experienced both negative and positive news. While total starts in the region declined by 17 starts (37%), the value of new construction in Palmetto grew by 72% (the greatest growth by construction value of any locality) from $7.8 million to $13 million. That was attributable to one multifamily development, valued at more than $9 million, which started this year.
- Sean Roth
Top 10 Pool Builders by Starts
BuilderStarts
1. Holiday Pools of West Florida Inc.374
2. Elite Weiler Pools Inc.270
3. Splash Inc.223
4. Coast to Coast Pools Inc.201
5. Pedrick Pools Inc.164
6. Blu Aqua Pool Corp.163
7. Superior Pools100
8. Anchor Pools & Spas Inc.98
8. Owner/Pool98
10. Casa Pools84
Top 10 Pool Builders by Value
BuilderValue
1. Holiday Pools
of West Florida Inc.$8,859,010
2. Elite Weiler Pools Inc.$6,858,995
3. Pedrick Pools Inc.$6,208,124
4. Splash Inc.$5,558,917
5. Blu Aqua Pool Corp.$3,201,849
6. Anchor Pools & Spas Inc.$2,649,928
7. Water Designs
of Sarasota Inc.$2,017,143
8. Bonded Pools Inc.$1,920,232
9. Coast to Coast Pools Inc.$1,912,855
10. Owner/Pool$1,801,371
STARTS 2003
Sq. Ft.R/A*DuplexMultiPoolComm.Total
Anna Maria36312
Bradenton293723170169
Bradenton Beach4419
City of Sarasota58100116291313
Holmes Beach625129364
Longboat Key2183128133
Manatee2,4191582681,3052154,167
North Port1,47014416482182,031
Palmetto101110729
Sarasota County1,60635193561,1332393,478
Venice318521115724562
Total5,9408311391453,24466810,967
* Residential additions
Top 20 Builders
by Value
BuilderValue
1. WCI Communities Inc.$62,924,577
2. Centex Homes$61,628,302
3. Lee Wetherington
Homes Inc.$56,608,183
4. B/W Gen.Contractors Inc.$50,183,393
5. Divosta Building Corp.$39,211,204
6. Waterford Constr. Inc.$35,708,355
7. Owner/Builder$33,028,747
8. Lennar Homes Inc.$31,530,153
9. K.M. Development Corp.$30,578.390
10. U.S. Home Corp.$28,809,913
11. Halfacre Constr.Co.$24,753,557
12. Morrison Homes Inc.$22,769,780
13. Windemere Homes Inc.$22,218,778
14. Kimball Hill Homes Fla.$18,586,774
15. Whitehall Homes Inc.$18,543,704
16. M. Pete McNabb Inc.$18,181,141
17. Pat Cook Const. Inc.$16,785,000
18. SSW & Bush
Contractors LLC$16,228,380
19. The Ryland Group Inc.$15,935,000
20. J&J Homes Inc.$13,656,918
Top 20 Builders
by Starts
BuilderStarts
1. Centex Homes467
2. Lee Wetherington Homes Inc.337
3. Owner/Builder306
4. Divosta Building Corp.277
5. Windemere Homes Inc.262
6. Lennar Homes Inc.249
7. WCI Communities Inc.244
8. Waterford Construction Inc.232
9. U.S. Home Corp.209
10. B/W General Contractors Inc.184
11. K.M. Development Corp.175
12. AllState Builders110
13. Morrison Homes Inc.107
14. Westfield Homes106
15. The Ryland Group Inc.101
16. First American Homes92
17. Kimball Hill Homes Florida88
18. Walker Homes Inc.75
19. Sam Rodgers Properties Inc.74
20. Neal Communities Inc.71
VALUE
2003Sq. Ft.R/ADuplexMultifamilyPoolCommercialTotal
Anna Maria$681,663$380,934$31,897$1,094,494
Bradenton$4,295,0381389221$485,000$764,510$26,311,580$33,245,349
Bradenton Beach$327,600$69,475$85,000$482,075
City of Sarasota$16,844,719$8,492,322$210,000$2,000,000$1,454,499$37,792,637$66,794,177
Holmes Beach$1,551,679$1,470,303$390,000$562,091$137,000$4,111,073
Longboat Key$11,874,842$9,653,039$700,000$691,742$22,919,623
Manatee$433,290,182$8,726,332$211,000$29,523,490$31,779,191$122,780,193$626,310,388
North Port$161,002,310$759,691$2,574,724$6$7,841,899$3,624,111$175,802,741
Palmetto$2,604,321$25,000$9,031,587$256,858$1,495,001$13,412,767
Sarasota County$324,171,293$21,845,125$14,033,689$57,855,627$23,955,202$80,298,160$522,159,096
Venice$58,489,969$3,458,093$13,428,769$4,585,622$8,631,455$88,593,908
Total$1,014,806,016$56,527,660$18,119,413$112,324,479$71,992,986$281,155,137$1,554,925,691
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