Construction permits up, always a good sign

Looks like many of you have decided it’s time to upgrade!

A few years ago, I posted that construction permits were on the rise in Collingswood. It’s a trend that is always good for our town and the even better news is that it has continued through 2017. Here’s a look at the numbers:

>2015: 664 permits/updates filed
>2016: 690 permits/updates filed
>2017: 790 permits/updates filed (projected)

So - why do we like to see permits filed? It is an indication that when faced with the need to improve or grow their current home or move to a new home, Collingswood homeowners are choosing to stay here and invest in their properties. In short, it means people like it here so much, they’re putting their money where their homes are - and keeping our neighborhoods and housing stock in great shape. They’d rather make a better home in Collingswood than go elsewhere.

In a town that is nearly built to capacity, we’ve seen a record number of new construction projects as well – all with an eye toward smart growth that uses our remaining space in the most effective ways. When new properties are built, it increases the tax base for everyone. 801 Haddon Avenue, the location of Hearthside  as well as new apartment units, was completed in 2017. Since 2015 we’ve also seen the construction of six new homes, one new apartment building (The LumberYard), more than thirty residential additions, two new public structures as well as a myriad of municipal infrastructure improvements.

The other big news is the sale of the Heights of Collingswood to new owners, who have changed the name back to The Parkview. We’ve had several meetings with new management and they have some ambitious goals for  the complex including garage renovations, parking improvements and increased security.

The sale of the Parkview will also net a new revenue stream that we hope to apply to capital projects (like new public safety facilities) that will improve our town without burdening taxpayers with the entire cost for those projects.

I’d also like to mention that the news from our real estate colleagues is that our retail vacancy rate is extraordinarily low. Nearly every store front in the central business district is under contract or in the process of getting approvals – meaning our storefronts will be brimming with even more activity, shopping, dining and services. Additionally, when properties are made available in these districts, they are filled with new businesses sometimes within weeks. It is an excellent testament to the vitality of our districts and the support we show our business community. Collingswood has long been the standard for strong businesses, neighborhoods and communities but we continue to see investment and growth year after year.