“The Depot district will have the passenger rail stop as a hub there, really providing an opportunity for folks to live in that area, to eat in that area, and then hop on the train and access work opportunities, educational opportunities or healthcare.” UNPRECEDENTED RESIDENTIAL GROWTH The surge in residential construction signifies a fundamental shift in Lexington’s economic trajectory. From approximately 100 building permits issued in 2018, the city now has roughly 1,200 units under construction with dirt being moved on sites across the community. The mix encompasses singlefamily homes, townhomes, multifamily apartments, and housing designed for residents aged 55 and older. Another 1,000 to 1,100 approved units await construction starts, positioning Lexington for sustained population expansion based on the city’s calculation of 2.5 residents per unit. Mayor Hayes points to a pattern the city has observed between employer recruitment and housing demand. “Usually what we see is that if we’re successful in recruiting a company that is going to be an employer in the area, we see an 18-month lag in additional residential growth and additional retail growth as well,” he explains. The community’s uptown area now features extensive second and third-floor residential conversions in buildings that served as storage for decades, while the Depot District follows a similar model with 33 CIVIL AND MUNICIPAL VOLUME 06, ISSUE 11 LEXINGTON, NC
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