After a lull during the start of the pandemic, 2021 is a return to form for construction in Penticton as the city closes in on its busiest year since 2018 and 2017.
According to the city’s monthly building reports, as of the end of September there were 721 building permits issued so far, compared to 516 issued in 2020, 571 in 2019, 748 in 2018 and 818 in 2017 at the same point of the year.
Those permits add up to over $147 million worth of buildings, which is more than double the $69.8 million of building permits issued by this point in 2019.
The amount of construction done in 2019, 2017 and 2016 are still higher, however, with over $156 million worth of construction permits issued in 2019, $163 million in 2017 and $155 million in 2016.
Despite the number of permits issued in 2018, the construction value only added up to $116 million.
All of the new construction will be a relief to the city’s housing crunch.
So far in 2021, there were permits that will lead to 424 new residential units being added to the city’s housing stock, in a mix of types. Most of the housing will be in multifamily developments, which will add 282 new units.
In comparison, 2020’s issued permits included 270 new residential units. This year is close behind the highest number of residential units issued by October that the city saw in 2018, when permits were issued for the construction of 430 residential units.
One of the projects currently in the process of seeking approval from residents and city council would add more than 200 more residential units to Timmins Street; however, that development will likely not receive approval and receive permits before 2022.
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