Troy Housing Boom

By: Erica Proffer
By: Erica Proffer

Troy leaders say their city is booming. They are reporting record growth dating back to 1994.

Troy’s building permits jumped almost 42-percent over last year thanks to higher education and military development.

And, leaders say this is just the beginning.

Troy is experiencing record highs, but it's not in weather, it's in construction; construction on new businesses and construction on new homes.

In particular areas, officials say homes are selling faster than they can build them.

Three major construction projects totaling almost $21 million dollars are spread across the city.

Those include the $17.5 million university dorm building, a transportation building over $1 million, and a $1.4 million hotel.

The growing trend sets a 13-year high.

Troy officials say 2007 is not slowing down and they look to keep growth going strong.

News 4 told you Tuesday a Dothan developer is planning to build more businesses and homes on 450 acres.

City leaders’ hope that will be a major factor in this year's statistics.

Last year's totals include 70 new homes and 64 new apartment units.

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