2008 Development: A Look Back

Wow. That was one boring December. Few developments have come down the pipeline, save for a couple of small shopping centers and subdivisions... but nothing to write about. Despite the optimism expressed by government leaders and Realtors, the economic recession has hit Huntsville. But because of a strong start to the year, the total value of construction project start-ups in Madison County this year is on track to be comparable to (and even over) 2007's numbers (over $900 million), but the number of projects will be significantly lower, from 4,000 for each of the last two years to around 2,700. But there were some bright spots this year, as projects either finished-- like the Westin Huntsville, much of the airport expansion project, a medical office midrise in the Medical District, and three new Publix stores-- or just began construction, like Constellation and the Councill Court redevelopment. And more projects are expected to begin in 2009. More on those tomorrow. Happy New Year!