Country Crossing and the Dothan real estate market
October 30th, 2008 - Categories: Dothan area Real Estate Market information, Dothan area information
By: Charles Woodall
http://www.dothanhomesearch.com
In case you missed it, dirt has finally been turned on Country Crossing, Alabama’s answer to Branson, Missouri. The project was first announced back in February, and after a couple of delays and a change in location, clearing of the land for the entertainment development just south of Dothan has started. Ground breaking was held this past Monday, and developer Ronnie Gilley says that the first venues will open in the fall of 2009.
What will Country Crossing mean for the Dothan real estate market? If the projections become reality, there will be a lot of positives. Immediately, the influx of construction workers will likely be a boon for the Dothan area rental market. This, coupled with the record number of homes for sale in Dothan, represents an opportunity for real estate investors. This area does not have the people that will be required to build something this big, so those coming here to fill these jobs will be looking for homes to rent.
Longer term, the employees of the various restaurants, hotels, and such will need more permanent housing. This will likely mean an increase in home sales around Dothan and hopefully a continued rebound in the new construction market. Granted, these jobs will not be the highest paying in Houston County, but Gilley has said they will not be typical retail/service type jobs paying just above minimum wage.
There is the potential of more related development in the vicinity of Country Crossing, which will likely mean property values for commercial property will be going up, perhaps significantly. We have already seen some speculative pricing going on, and now that construction seems to be moving full speed ahead, expect more.
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