City analyzes rapid growth: 47 projects in pipeline to add 1,124 housing units

9/4/05 * Daily Progress [full story - not available online]

It can be tough to keep up with Charlottesville's booming real estate market, as new developments seem to be going up every other week.

The city's Department of Neighborhood Development Services will present a report to the City Council on Tuesday that outlines just how rapid the pace of construction has been and how rapid it will remain in the coming years.

The report found that:

• Since September 2003, there have been 36 projects completed, adding 625 dwelling units to the city's stock.
• Currently, 47 projects are under construction, which will put another 1,124 units on the market.
• Another 32 projects, which could add 1,006 units, are under review by city staff.