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Hobbs home, commercial construction falls in 2008
| The Associated Press
Posted: Sunday, January 11, 2009 - 1/12/09
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HOBBS — Residential and commercial construction in Hobbs has fallen to about $60 million in 2008 after a peak of nearly $86 million in 2007.

But the lower figure is still well above $8 million in construction the southeastern New Mexico city saw in 2000.

Demand for home and commercial construction jumped dramatically after Louisiana Energy Services located its uranium enrichment facility near Eunice three years ago.

The 2007 number was buoyed by five new hotels costing nearly $25 million all together.

Hobbs building official Manny Marquez says he's confident Hobbs will see about $60 million in construction costs this year. He says construction costs will trend upward.

The 2008 figure includes 1,319 residential projects at a cost of $28 million and 514 commercial projects totaling $32 million.


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