HUNTLEY – The village saw roughly $15 million more poured into residential and commercial construction this year than in 2011, officials said – a strong community investment seldom seen in slow economic times.
Based on construction permits, Huntley officials estimate the total value of construction in village limits this year at $41 million, far above the $26.1 million of last year. The larger investment is mainly tied to the new Deerpath Supportive Living Center and expansion of the Talamore subdivision, Village Manager Dave Johnson said.
“It shows that Huntley is as healthy as it can be in this economy,” Johnson said. “People are still looking to invest into our community and still looking to move here. Those numbers clearly indicate that.”
Johnson delivered the construction news to the Village Board on Thursday during its initial budget presentation for the coming year.
The administration also unveiled the village’s tentative $8.03 million capital projects budget for 2013. It includes $3.95 million to extend Kreutzer Road west of Route 47 and north to Main Street.
The estimated $41 million in commercial and residential construction this year is contained in 826 building permits and includes smaller projects such as home renovations. The village issued more permits – 865 – permits in 2011.
Construction of the 118,000-square-foot Deerpath center off Regency Parkway by itself is a $12 million investment in the village, Johnson said.
In construction outside the reported $41 million, officials broke ground on a $69 million full interchange at Interstate 90 and Route 47. And the state approved Centegra Health System’s plan to build a full-service hospital in Huntley.
“We have the room to grow,” Johnson said. “A lot of our neighbors don’t have that, but if you look at where we rank overall in new residential construction activity in the Chicago market, we believe we rank in the top five.”