Home builders in Twin Cities post biggest year since 2007

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2013 has been a good year for home builders in the Twin Cities.

The Star Tribune reports that home builders reported more than 10,300 planned units in 2013, the first time since 2007 that builders broke the 10,000 mark.

According to the full report, from the Builders Association of the Twin Cities the full value of the permits has eclipsed the $2 billion dollar mark for the year.

The report says the number of permitted units have more than doubled in the Twin Cities since 2009 when there were 4,405 permitted units.

Half of the planned units are for multi-family construction. Construction of new multi-family units climbed to an eight-year high in September.

There were also big gains in single-family home construction, up over 26 percent from 2012, according to the report.

Lakeville had 365 building permits issued in 2013, more than any other community in the metro, according to the report. That was followed by Woodbury with 361 and Blaine with 304.

Minneapolis had the most permitted units for the year with 3,153. The report says for the month of December 28 permits were issued for 371 permitted units.

Woodbury also had a big year for construction. The city actually had more building permits issued than Minneapolis in December with 30, according to the report.

The Woodbury Bulletin reports the city has seen a number of major construction projects including a $22 million renovation project to the Bielenberg Sports Center.

The newspaper says the city has also had growth in business and has opened up Phase 2 of a residential housing project. By the end of the year more than 365 housing units have been added.

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