Interstates Help Spur Housing Growth

Interstate spurs housing growth

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Last week the News & Observer had an article that discussed the increase in residential construction permits in the local municipalities of Apex and Holly Springs due to the I-540 extension that is currently nearing completion.  You can read the full article here.

Although this may be news to the general public, construction and development companies (both residential and commercial) have been looking at new and growing traffic corridors as they continue to explore areas for development.  New  interstates and highways are a critical component in this.  Study after study has shown that people want easy accessibility as a determination to where they decide to live. 

Typically, housing developments, due to their shorter development timeframe, can be completed before the corridors are opened up.  Because of this, the housing that is developed and sold before the corridor opens up is less expensive than a similar community opened up afterwards.  To do this, modern technologies like GIS (Geographic Information System) programs has helped find key areas of development that get ahead of the interstate and thoroughfare growths to make their communities attractive to perspective buyers.  Some larger developers and builders already use this technology.  However, smaller ones can to by finding local sources that are already using GIS for other purposes and use them to leverage their knowledge and abilities.

–J. Nolfo helps companies understand their market and customers though a variety of market research strategies.  He has over ten years of experience of market research for strategic planning purposes.  He is the Director of Research at Rhino Market Research.  He shares his thoughts about market research and business concepts with his blog “Pensare…Understanding Market Research in Business“.  If you would like to discuss this blog or how J. can help you understand your market and customer needs, email him at jnolfo@rhinomarketresearch.com.

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