Penticton is looking to top 2021’s banner year for construction.
This year, as of the end of October the city has seen over $170 million worth of construction, compared to $152 million by the same point last year.
October’s numbers are already over the entire approved construction for the entirety of 2021, which came in at $168 million.
However, that value is buoyed in large part by the substantial $32 million Skaha Tower, as the number of permits issued and new residential units is down overall in comparison to 2021.
READ MORE: Penticton’s construction starts 2022 strong with $32M Skaha Tower development permit
So far in 2022, there have been 681 permits issued for construction and 378 new residential units set to be built. By the end of October 2021, there were 799 permits issued and 429 residential units.
The highest number of permits were 160 under the single-family development category, while the highest number of new residential units of 235 were attached to the 50 multifamily development category permits.
The city is still on track to continue the rally in construction it saw in 2021, after 2020’s substantial slowdown due to COVID-19 and supply chain issues.
It still has quite a way to go to catch up to the boom years of 2017 and 2016, which both saw over $197 million worth of construction during those years, followed by over $182 million in 2019.
READ MORE: 2021 was Penticton’s 4th biggest year in construction
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