Housing starts inch up in California
California builders pulled permits for 7,164 single-family homes in May, a 2.5 percent decrease from April, according to the Construction Industry Research Board. But in the multi-family housing market, the number of starts totaled 3,574, a 14 percent rise over April.
The net gain was a 2 percent overall rise in residential building activity.
Yearly comparisons were still grim, with single-family housing permits in May dropping 40 percent compared to May 2006. Permits for condos and apartments were down 29 percent in May 2007 compared to the previous year.
Pro-Build purchases Tennessee-based distributor
Denver-based Pro-Build Holdings has purchased the assets of Crosslin Supply, a distributor of lumber, millwork and building products operating in the greater Nashville, Tenn., market. Terms of the deal were not disclosed.
Crosslin has facilities in Franklin, Spring Hill and Smyrna, Tenn. The company was founded in 1933.
“The team at Crosslin Supply will be a great addition to our existing team in the Nashville area,” said Buddy Ables, president of Pro-Build’s East region. “Nationally, Nashville ranks in the top 20 markets with respect to permit activity.”
Crosslin executives Eddie Crosslin and Greg Davis will remain in general management roles responsible for Smyrna and Franklin operations, respectively.
“The Crosslin family is very enthusiastic about joining forces with the Pro-Build family of companies,” Crosslin said.
Pro-Build, headquartered in Denver, operates more than 500 lumberyards, truss plants and assembly facilities in 40 states. The largest pro dealer in the United States, Pro-Build posted sales of $5.95 billion in 2006.
Builder group plans huge Las Vegas project
A consortium of home builders, including national companies Lennar, Pulte, KB Home and Toll Brothers, are planning a 16,000-home development northwest of Las Vegas, according to a report by the Associated Press.
The group won an auction in 2005 put on by the Las Vegas Bureau of Land Management on the 1,712 acre property, known as Kyle Canyon Gateway. The cost of the land deal was not disclosed.
Further home builders involved in the deal are Woodside Homes, Kimball Hill Homes, Meritage Homes and Ryland Group
The home builders did not say when construction would begin on the development.