Times have been tough in the local economy, but it looks as if we’ve finally turned the corner. If growth is starting to make a comeback, exactly where will it be? Is your county ready? (Photo: U.S. Census Bureau, Public Information Office)
By nearly 3 to 1, apartment construction is outpacing single-family construction in Charlotte, a reflection of a tough economy as well as city policies encouraging higher density housing. It's also pushing planners to start thinking about how to focus on building communities, not just apartment projects.
Charlotte has lagged much of the country in this period of economic recovery, but the region has finally begun to see a few small signs of better days on the horizon. Over the past several months, there has been gradual improvement in the unemployment rate and home price index in the region. These bright spots are welcome news in a region that continues to suffer the effects of the Great Recession.
In the wake of the financial crash, many real estate developments across the Charlotte region appear frozen in various stages of construction. But a few of these so-called “zombie subdivisions” may be reviving, as developers regain their financial footing and, in some cases, propose new plans. (Click here for a photo gallery of abandoned subdivisions in and around Charlotte.)