Penticton’s construction is off to another quick start to the year, thanks in large part to the approval for the third phase of Skaha Towers.
The $32.7 million development permit for the project on its own is close to twice the value of construction permitted for 2021 up to the end of February which was at $18.4 million.
For the first two months of 2022, there have been 112 permits issued for construction worth $49 million in total.
The third Skaha Tower, which will stand at 14-storeys, is set to add another 88 residential units to Penticton’s housing supply.
That puts the city on track to have another 122 residential units so far in issued permits for 2022, as of the end of February.
In comparison, 2021 had seen 40 more permits issued by the same point, with 154, but only 29 new residential units that would be created by that construction.
It is the largest amount of construction in value that the city has seen for the first two months of any year on record.
While it is the biggest start to the year in the value of the permits issued, 2022 is only the second biggest when it comes to residential units, compared to the 192 that were permitted in 2018.
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