Could be Banner Year for Building Permit Values in P.G.
Prince George, B.C. – The building permit values for October continue to show positive activity in Prince George and it is likely 2016 will wrap up at, or above, the $120 million dollar mark.
The latest stats show that from January to the end of October, there have been 407 permits issued with a total value of just under $119.9 million dollars. That is more than twice the year to date values for 2015 which were at $77.7 million for the same time period, and ahead of the first 10 months of 2014 when values totaled $112.3 million.
Comparing last month to October of 2015 and 2014 show the numbers are down . Last month there were 34 permits issued with a value of nearly $5.1 million compared to 45 permits valued at $7.7 million in October of last year, and and 49 permits worth just under $8.5 million in 2014.
The contributing factors to this year’s ten month performance are; new housing construction, the Riverbend Seniors complex and new commercial construction.
There have been 133 new single family dwellings started so far this year, compared to 103 in same period a year ago, and 99 in 2014.
The new construction of the Riverbend complex added $20 million to the year to date total while a dozen new commercial projects account for nearly $26.9 million .
Comments
Awesome news. PG has things going on. Go PG Go!!
Anything under 300 homes a year is PG in decline for a city this size. A normal market for PG prior to the long decline that started 25 years ago was over 400 homes per year. Since then we have lost twenty percent of our cities population and averaged about 130 homes a year.
If there is one thing you can always count on in Prince George, it’s that the 250 Doomsday crowd has a negative spin on every single story.
What-don’t like to hear the truth?
Prince george is a good choice to build. I have been developing a nice piece of commercial land for my own. Concrete getting poured right now. It might actually be the tallest bldg in the hart, or second tallest for sure. I am building it solely for myself and an investment for the future . Now is the time to develop because i am seeing the cost to build going to the moon!
Truth, I hope the day never comes when all I do is post negative things on line on news stories and call it the truth. Just because Oldman thinks the truth is that the sky is falling and there is no such thing as good news these days and the whole world is going down the drain doesn’t make it so.
I really don’t consider Eagleone to be an authority on what constitutes growth and good news. To say anything less then 300 homes is a decline is ridiculous unless there are more then 300 homes being torn down a year. New home usually include rental suites and many homes are renovated to add on rental suites.
Like it or not, the city is growing and it is good news. I have witnessed the prices of vacant lots nearly triple in my own neighborhood over the last 5 years – and those vacant lots for infill housing are getting harder and harder to find. I have seen two old and run down single family homes get torn down and replaced with four multiple family homes this year alone.
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