Kingsport saw fewer new housing starts, fewer building permits issued and the overall value of those new permits dropped by $20 million compared to the previous year. One optimistic point about 2018 is that Kingsport saw the average cost per home rise by nearly 7 percent.
These were just some of the conclusions from the Kingsport Building Division’s 2018 annual report. It includes information and statistics on building permits, housing and commercial starts and inspections performed within the city during the past year.
“Our growth continues to center around the medical, financial and automotive sectors while house prices continue to climb, which is a strong indication of demand,” said City Manager Jeff Fleming.
Top Five Building Permits
Kingsport issued 497 building permits during 2018 with an estimated construction value of more than $108 million. By comparison, in the previous year the city issued 527 building permits with a value of more than $138 million.
Here are the top five building permits issued by Kingsport last year:
— Industrial building (Eastman), $15.3 million
— Corporate office (Eastman Credit Union), $11 million
— Cloud Apartments renovation, $10.7 million
— Industrial building (Eastman), $8.4 million
— Holly Hills Apartments renovation, $3.37 million
Kingsport issued 13 permits for commercial development in 2018 with a total value of $42.1 million. Here are the top five commercial permits issued by Kingsport in 2018.
— Planet Fitness, $2.15 million
— Eastman Credit Union (West Stone Drive), $1.68 million
— Ingle’s gas station, $1.6 million
— Weigel’s gas station, $1.4 million
— Firestone Complete Auto Care, $1.2 million
Kingsport issued 89 new, single-family dwelling permits during 2018, a decrease of 13 from the previous year. The total construction value of these new homes is estimated at $20.5 million, a decline from the $22 million spent during 2017.
The report states the average cost per home increased from $216,596 to $231,121 during 2018. The largest single-family home permit was valued at $810,000.
Leading the residential development list for the fifth year was the Edinburgh in Rock Springs with 32 new housing starts. Chase Meadows permitted eight, while Anchor Point, Old Island and Polo Fields each added five new homes.
There was one new six-unit apartment building permitted on Arch Street, valued at $400,000.
Year Number of permits Estimated value
2018 497 $108 million
2017 527 $138 million
2016 577 $110.7 million
2015 715 $87.5 million
2014 1,264 $80 million