Kingsport's Target Kohls Grand Openings

Kingsport Pavilion
2626 East Stone Drive

Kohl's opens Oct 3

Target opens Oct 14

If you would like to receive "good news" about Kingsport, please write to jeff_fleming@earthlink.net

Kingsport Construction Report

Kingsport blows out new construction totals for fiscal year 2007

KINGSPORT, TN -- New investment set a sizzling pace for fiscal year 2007 in Kingsport, with $123.35 million in new construction from July 1, 2006 through June 30, 2007.

Clearly, Kingsport’s economic engine was hitting on all cylinders as fiscal 2007 eclipsed the previous high mark of $101.3 million set in FY 2001-2002, with an increase of 57 building permits and $44 million over the previous fiscal year.

Single family housing posted an increase for the fifth straight year, with 132 new homes constructed at a total value of $20.9 million.

The average cost of a newly constructed home was $157,774. At least 32 new homes were constructed at a value of $200,000 to $499,000.

Seventy-nine new condominiums and patio homes valued at $64 million were also constructed at Pinebrook Place, Skyland Falls, Timers Edge Trace and Cooks Pointe.

In addition to new residential construction, another $22.14 million in building permits were issued for commercial and residential alterations.

On the new commercial construction side of the ledger, 56 new permits were issued for $66.15 million, an increase of $35.85 million over the previous year. Commercial permits cover retail and office construction.

Also, the leading edge of the $1.3 billion Project Reinvest at Eastman Chemical began late in the fiscal year, with two permits issued for $4.59 million for construction of a new laboratory and other items.

“Discounting the beginning of Project Reinvest, Kingsport clearly eclipsed the previous record for new investment in the community,” City Manager John Campbell said. “When you look across-the-board, every sector is growing, and this proves a strong foundation as the Eastman investments begin to show up.”

Campbell also noted that the results for 2007 do not entirely capture the results of ongoing work at the new Kingsport Pavilion, new Lowe’s, and other commercial development on North Eastman Road, nor do they realize expected growth that will be fostered by strategic city investments, such as the new Higher Education Center and Allied Health building.

Kingsport's unemployment rate also posted a new low in the last quarter, at 3.8 percent, according to the latest survey.