WASHINGTON, D.C.- Driven by steady economic growth, low unemployment and extremely favorable housing affordability conditions, the 1998 housing market posted an all-time high number of sales, boosted in part by a record number of sales recorded for December.
Preliminary figures from the National Association of Realtors show that sales of existing single-family homes in 1998 reached an actual total of 4.78 million units, marking the highest sales total on record. The previous record was posted in 1997, when the sales total reached 4.21 million units. Meanwhile, December 1998 sales hit a record high seasonally adjusted annual sales rate of 5.03 million units, up 15.1 percent from a year ago.
ISO 9001:2026: A Practical Opportunity to Build for What’s Next
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AFC Cable building new facility for offices
NEW BEDFORD – AFC Cable Systems, Inc. recently announced the construction a 71,000-square-foot, $4.9 million building in New Bedford for corporate offices and warehouse distribution facilities. The new building, scheduled for occupancy in the first quarter of this year, will be the company’s fourth in New Bedford and third in the city’s industrial park. New England Construction of East Providence is the design-build contractor.
“The company has come through an extended period of growth, with sales more than doubling since our initial public offering in 1993 to $220, 262,000 in 1997,” said Robert R. Wheeler, AFC’s president. Wheeler said that 20,000 square feet of the new facility will be a three-story corporate office building, including engineering, finance, human resources, and sales and marketing. The remaining 51,000 square feet will be a warehouse distribution center.
AFC Cable Systems is a leading manufacturer of cost and labor-saving electrical and communication products and systems for commercial and industrial construction and renovation.
Holiday Inn to open in Woonsocket
WOONSOCKET – Woonsocket Mayor Susan D. Menard recently announced the planned construction of a Holiday Inn Express & Suites at the former Menard Ford Site on Cumberland Hill Road. Mayor Menard and Raymond Roy of RDJ Limited, the developer, said last week the hotel will be ready to open by next year.
The hotel will be a five-story structure with 80 to 100 rooms. There is potential for a second phase of development that will include an additional 40 rooms. The new hotel will also contain conference/banquet room facilities, as well as an indoor swimming pool and health club.
“Our city’s growth has been tremendous and this project attests to the positive transformation that is occurring here,” Menard said.
Police, fire headquarters available to film crews
PROVIDENCE – The Providence Film Commission wants to know if any film or television production companies are interested in filming action sequences in the city’s central police and fire headquarters before it is demolished to make room for a hotel.
The four-story stone block-long building, constructed in 1938, contains numerous offices of various size, jail cells, as well as space for four engine and ladder companies. For more information contact Paul Campbell or Eric Olin at 273-3456 or 421-7740, extension 221 or email them at provfilm@providenceri.com.
Publication outlines Broad Street district
PROVIDENCE – A neighborhood business group recently published the Southside Broad Street Merchants’ Directory, a 10-page publication that lists over 260 businesses and organizations located on Broad Street, Providence. Funded by Southside/Broad Street, an organization dedicated to improving and promoting the Southside businesses district, the directory is a way to spotlight what they have to offer.
Free copies of the directory can be picked up at the following locations: The International Institute at 645 Elmwood Ave., The Business Information Center at 550 Broad Street, CHISPA at 421 Elmwood Ave., and the Chamber of Commerce.
