Posted February 04, 2018 11:05:08The biggest story of the week was the construction of a $1.6 billion new housing development in North Charleston.
The project was announced on Monday.
But it’s not the first such development in the state.
The state also has two new housing projects under construction.
The North Carolina Housing Finance Authority announced the construction phase of the new project in October, and the state has announced a total of nine housing projects in the first half of 2019.
The projects will include five mixed-income housing units and a mixed-use residential and retail space.
North Carolina is home to more than 8.5 million people, making it one of the fastest-growing regions in the country.
The unemployment rate is 2.8 percent, making North Carolina the state with the second-highest unemployment rate in the nation.
And the state ranks second in the U.S. in the percentage of young people without a high school diploma, according to the Census Bureau.
The project in North Columbia is expected to have an estimated completion date of early 2019.