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May 1, 2008
(Red Deer, AB) - Commercial permits remain strong for April while multi family permits showed a significant increase.
Commercial permits issued to date are valued at $5 million, and have once again outperformed 2007 figures. This value was driven by the Golf Town permit, at 5111 22 Street, with a value of $1.1 million and the Royal Bank renovation permit, at 6791 50 Avenue, with a value of $800,000. Carolina Homes was issued $1.4 million in permits for a 148 unit, multi family development located at 31 Jamieson Avenue. The development will consist of nine 12-plexes and five 8-plexes.
“Residential permits for single family and duplexes are only one third of where they were in 2007 due to a slowdown in the housing market and a limited supply of single family and duplex lots available within the City,” indicated Paul Meyette, Inspections and Licensing Manager. “Four new neighborhoods planned this year will address the lack of supply of serviceable lots in Red Deer; in addition CMHC forecasts a rebound of the housing market by mid year which should mean a stronger single family and duplex market in the second half of the year.”
Monthly permit statistics are available at www.reddeer.ca/inspections.
Value of building permits |
|
|
April 2008 |
April 2007 |
January 2008 –
April 2008 |
January 2007 – April 2007 |
Permits |
Est. value |
Permits |
Est. value |
Permits |
Est. value |
Permits |
Est. value |
Red Deer |
238 |
$18,583,630 |
273 |
$18,039,335 |
598 |
$76,999,410 |
1015 |
$79,819,309 |
Residential |
215 |
$10,656,493 |
252 |
$13,605,335 |
524 |
$49,970,229 |
952 |
$60,396,389 |
Commercial |
14 |
$4,927,700 |
12 |
$1,405,000 |
55 |
$20,558,950 |
37 |
$4,272,660 |
Industrial |
7 |
$2,784,437 |
9 |
$3,029,000 |
15 |
$3,502,231 |
22 |
$7,890,260 |
Public |
2 |
$215,000 |
0 |
$0 |
4 |
$2,968,000 |
4 |
$7,260,000 |
Miscellaneous |
0 |
$0 |
0 |
$0 |
0 |
$ 0 |
0 |
$0 |
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For more information, contact:
Shelley VanSomeren
Inspections and Licensing
The City of Red Deer
403-309-8546
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