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A proposed rezoning south of Wheat Capital Road west of U.S. 81 could pave the way for a stone yard for Dolese Brothers, if approved by the Metropolitan Area Planning Commission Monday.The item concerns the property in the county, but still within three miles of the limits of MAPC jurisdiction. The rezoning request is from A-1 agriculture to I-3 heavy industrial.The proposed zoning will abut Wheat Capital Road with the entrance on U.S. 81.Also on the agenda is a proposed lot split for lot 10, block 4, West Evandale. A residence currently occupies the property and the applicant wants to transfer 13 feet from lot 10 to lot 9. There is no public water available in the area.A lot split for Pheasant Run Golf Course also is on the agenda. The property at 1101 Dalton Court is zoned R-1 residential estate district with a Planned Unit Development overlay and currently there is a residence on both lots.
Oct. 16 (Bloomberg) -- Hong Kong investors lined up outside their local banks today to apply for shares in the world record $19.1 billion initial public offering of Industrial & Commercial Bank of China. Institutional investors last week ordered $175 billion of shares, or more than 13 times the stock available to them, two people involved in the sale said, declining to be identified before an announcement. ICBC as the Beijing-based bank is known, may oust Japan's Mitsubishi-UFJ Financial Group as the world's fifth-biggest financial firm by market value once the shares begin trading in Hong Kong and Shanghai on Oct. 27. ``I've never seen such strong demand in the first week for a Hong Kong IPO,'' said Horace Kwan, a director at Celestial Securities Ltd. China is pushing its biggest banks to sell shares in Hong Kong because accounting rules, stock market regulation and the scrutiny of international fund managers will help improve corporate governance and management skills.
Home construction in the Greater Toronto Area was down in September, largely because of a lull in the condominium market, according to the Canada Mortgage and Housing Corp. But the agency hastened to add that the condo market tends to appear volatile when looked at on a month-to-month basis. And those numbers should soon turn around, said Jason Mercer, the CMHC's senior market analyst for the GTA. He said record numbers of pre-construction condos have been sold over the past two years, which "will convert into a greater number of condominium starts," he said. The seasonally adjusted annual rate of starts was 25,200 in September, down from 32,500 in August. "Multiple family" dwellings (mainly condos) were down 41 per cent, from 18,600 to 11,000.
The Federal Reserve's Beige Book report on Oct. 12 says the Southeast's economy remained a mixed bag in September, just as it was for the past several months. Further declines were noted in Southeast housing markets in September. The majority of builders and Realtors reported activity was down from a year ago and inventories continued to rise. New home construction was below year-ago levels in most parts of the region. .
(AXcess News) Washington - An economic slowdown has caused homebuyers to think twice about buying a new home as inflation drove up living costs for most Americans thanks to a spike in energy prices and growing concerns in the workplace. New-home construction in August fell 6 percent, the Commerce Department reported, with new-home construction down nearly 20 percent compared to the same period last year when the boom inhousing was still at its peak. Total housing starts dropped 6.0 percent in August to a seasonally adjusted annual rate of 1.665 million units, according to figures released by the Commerce Department today. The pace of new-home construction was down 19.8 percent from a year earlier, which was a record-breaking year. Builders slowed the pace of single-family home construction by 5.9 percent for the month to 1.360 million units, a 20.6 percent drop from a year earlier.
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