Posts Tagged ‘economic slowdown’

Bastrop housing starts still at a standstill, lag likely to continue into next year

Wednesday, September 9th, 2009

Bastrop, Tx–Tuesday the Bastrop City Council approved without opposition from a major housing developer a denial of permission to continue building in a new residential section of The Colony Municipal Utility District west of town in the city’s extra-territorial jurisdiction.

The lack of interest by developers to continue building perhaps reflects the current downturn in the residential market. Two weeks ago, the council also turned down a final plat for a new residential section in Hunter’s Crossing on Bastrop’s southwest border. Again developers did not object.

City planners urged denial of the final plats. Without city council action on the issue, the plats as submitted would be approved as a matter of law, officials said, and developers had indicated no immediate plans to pursue further construction activities in the near future.

In the current fiscal year the city has issued only one permit for new home construction, the same number as in the previous year, according to planning department reports.