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Brighton issues 391 permits in 2012

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Brighton issues 391 permits in 2012

The City of Brighton is pleased to announce an increase in the number of housing permits issued in 2012 when compared to the previous year. In 2012, Brighton issued 391 permits, up from 57 permits in 2011, 51 permits in 2010 and 37 permits in 2009.

 

 The large increase in permits issued in 2012 is in large part due to an increase in new multi-family housing units. Of the 391 permits issued in 2012, 280 were for new apartment units and 111 were for single-family homes. In the three years prior, Brighton did not issue any multi-family housing permits.

 “We are continuing to see a strong demand for all segments of housing.  Apartment occupancy is up around 97 percent and single family builders are beginning to see a shortage of available lots to build new homes on.” Assistant City Manager for Development Marv Falconburg said.

 “The seven-fold increase in housing permits is great news for our local economy,” said Economic Development Director Robert Smith.  “This residential investment indicates a strong belief the local market is coming back from the Great Recession.  We’ve been advising prospective companies visiting the community that all economic indicators point toward a steadily improving economy throughout 2013 and an even greater surge upward is likely in 2014.”

Even with the increasing strength of the residential market, Brighton's attractive housing costs remain among the most affordable in the metro area. According to residential real estate website, Zillow.com, the median value of owner-occupied homes in Brighton is over $185,000, and the home value index has increased more than 12 percent over last year.

Brighton’s housing stock is not only increasing, but also offers great diversity as well. The community has a complete continuum of housing, from workforce rental and entry level owner-occupied housing to houses valued at more than $1 million.

“According to a recent EMSI study, we’ve added more than 4,000 jobs in the Brighton Influence Area over the last decade,” Smith continued.  “People naturally want to live in a community where jobs are increasing, the quality of life is tremendous and their housing dollars go that much further.”

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