Building Numbers Up In Prince George

Friday, September 09, 2005 04:01 AM

There seems to be a definite buzz in Prince George when it comes to building.

City Hall shows an increase in the number of permits issued for new construction and renovations last month compared to August of 2004. We are also seeing more activity on a “year to date” basis:

First off, more single family homes were started in August with 20 permits for single family dwellings, worth nearly $2.15 million issued. In August of last year, there were 15 permits issued for single family dwelling construction worth just over $1.9 million.

Year to date: there have been 144 permits for single family dwellings, compared to 97 for the same time frame last year.

Total permits (all types) for the month of August:
2005- 77 permits for work valued at $28,357,303.00
2004 - 59 permits for work valued at $ 4,607,620.50

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Posted on Friday, September 09, 2005 04:01 AM in News by 250 News

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Comments

Posted by: gypsy on September 9 2005 8:55 AM

Isn't 23 million of that 28 for a project at the university???
I fear we may be experiencing a false boom, and am watching to see how quickly all these new homes I see springing up are occupied, and what happens to prices.
I am not quite convinced this spurt is giving us a true picture.
I hope the upswing continues.
About time.

Posted by: spanky on September 11 2005 10:35 AM

ya if you think long and hard enough, any number can look good, we shall see.

Posted by: owl on September 11 2005 2:30 PM

The rate at which housing units are being constructed in Prince George is close to a "steady state" or "equilibrium" rate.

With around 28,000 "dwelling units" in PG and say a lifecycle of 80 years for a "dwelling unit", we would have to build about 350 units per year for a "no growth" scenario. Depending on what some may determine to be a realistic average "dwelling unit" longevity, that figure of 350 would obviously change.

In my opinion, the figures I see do not reflect any growth in population.

A simple maturing of families which sees the leaving of the children to form their own households would be adequate reason to build even more houses than we have on the go.