Information released Thursday shows that U.S. construction spending increased 1.4 percent in August, largely due to an increase in spending on homes. According to the data, residential construction was up 3.7 percent with a 5.5 percent rise in spending on single-family homes.
“One of the big drivers in our economy coming through the pandemic has actually been housing,” Highland Subdivisions developer Kyle Carruth said. “Everyone was kind of worried about the ramifications the downturn in the economy was going to have overall, but really, housing has been a bit of a shining star. Our hope is that the housing market will actually help pull our economy out of the issue that we’re experiencing with the pandemic right now.”
While the Shallowater subdivision aims to also bring commercial businesses to FM 1294, or 12th Street, 370 of the lots are for housing. Carruth suspects while many stayed at home during the pandemic, their desire for a change increased.
“I think it shifted a lot of people’s focus on what they’re looking at in a home,” Carruth said. “I think all of that plays back into a smaller community like Shallowater, as an example. You can get a bigger bang for your buck and you can still get all of the amenities in the home that you’re really needing.”
Carruth tells KCBD that communities like Shallowater are great candidates for development due to the school district and proximity to Lubbock. He said the collaboration with its city government has also produced a project he hopes will benefit them and its citizens.
“We want to put something in that the city is going to be proud of, that the citizenry is going to be proud of as well,” Carruth said. “It’s definitely a hand-in-hand process with the city working with them to ensure that infrastructure is installed appropriately.”
Pertaining to that infrastructure, Carruth also hopes the subdivision becomes an economic driver for Shallowater.
“The tax base, it’s going to help generate without a doubt, help expand city services and expand everything that is provided to the city and the community,” Carruth said.
Seven builders are currently constructing homes in Highland Heights. The Highland Trails section to the East is expected to be developed starting early 2021.