Penticton is on track to have one of its best years for construction since 2017, at least in dollar value.
According to the city's latest monthly building reports, over $175 million worth of building permits have been issued up to the end of October.
The only years better were 2017, which saw over $176 million, and 2016 at $181 million.
It's far higher than 2023's $93 million, or 2020's pandemic drop of $78 million.
However, the value of the permits is only a part of the story as Penticton, and the rest of the country, grapples with a housing shortage.
Those statistics tell a different story, where despite issuing 560 permits so far, they are set to create 274 residential units.
In comparison, every year since 2017 outside of 2023 has seen more than 300 residential units permitted by this time of the year.
The 274 units falls right in the middle of the 240 to 380 housing units the city estimated it needs to build per year to meet expected annual population growth.
The two previous biggest years for housing by this point in time were 2018 and 2021, which saw 459 and 429 units respectively permitted by the end of October.
