Construction in Penticton has already surged ahead of 2020.
In the first two months of the year, more than 150 permits issued for $23,368,619 in construction value.
In 2020, there were 100 permits issued for a total of $13,799,206 in value.
2021 still hasn’t caught up to the boom year of 2019, which saw $36,015,521 worth of permits issued over the same period of time.
The city ended 2020 with the lowest number of permits and new residential units in five years.
COVID-19 wasn’t responsible for all of the drop in construction, as by the end of February 2020 had already begun to see fewer construction permits issued than 2019.
With vaccines on the way, and a high demand for homes in the South Okanagan, construction is likely to continue to pick up.
For the year so far, there have been 30 new residential units created according to the city’s permit statistics, compared to 21 in 2020. Out of those 30, 13 are single-family development permits, five were multifamily permits, five were secondary suite permits and four were for carriage houses.
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