Penticton's number of building permits drop while construction value rises
The number of building permits issued in 2012 may be down compared to last year in the City of Penticton, but the value of construction projects has increased significantly.
“Construction values received are increased 80 per cent over this time last year based on some commercial activity within the city,” said Anthony Haddad.
According to October building statistics, only 445 building permits have been issued in 2012 — 30 per cent less than last year at the same time — but the construction values have increased from about $26.2 million to $47.2 million, with the largest increase coming from the commercial category. Residential construction has also increased.
“Building permit numbers are fairly consistent with the same time last year, with a significant commercial application approved in October down at the Wal-Mart site for their building addition,” said Haddad.
While residential, industrial and government permits show equivalent numbers of permits in October 2011 and 2012, commercial dropped off significantly, with only seven permits issued compared to last year’s 14. Those seven, however, including the Wal-Mart expansion account for $7.2 million in new construction, compared to last year’s $535,925.