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City Building Permit Values Up In 2007

By 250 News

Sunday, February 03, 2008 07:19 AM

New homes being worked on at 5th Avenue and Tabor, fall 2007  (Opinion250 file)

Prince George, B.C. -  The value of building permits issued by the City of Prince George in 2007 was up substantially over the year before.

In a report to City Council, the City's Manager of Current Planning and Development, Dan Milburn, says a total of 773 permits were issued last year, worth $154-million dollars.  That's 59-million dollars more than the 775 permits worth 95-million dollars issued in 2006. 

The categories showing the most marked differences were:

New commercial development - with 25-permits valued at 37.7-million dollars approved last year, compared to 12-permits valued at 12.7-million dollars the year before.

New Single Family Dwellings - with fewer permits issued in 2007, 201 compared to 224 the year before, but the values were up: $47-million in 2007, to $32-million in 2006

New Institutional - two permits totalling $35.3-million dollars were issued this year, compared to 4 permits worth $25.7-million in 2006


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Posted on Sunday, February 03, 2008 07:19 AM in News by 250 News

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Comments

Comment Posted by: Harbinger on February 3 2008 6:27 PM
Gee whiz! No rental construction? Time fer some government interference due to the vacancy rate. Then again, who wants to rent to a bunch of people, eh? Especially when 30 year mortgages exist.
Comment Posted by: Harbinger on February 3 2008 6:32 PM
Ahem! Speaking of city hall, I haven't read or heard anything for a long time about the present disposition concerning the lawsuit tween the city and the Black Orchid escort company. Anybody got any dirt on what is transpiring? Hope it ain't been swept under the carpet. After all, it is our tax dollars, ain't it?
Comment Posted by: Junco on February 3 2008 8:26 PM
What's driving this market?
Comment Posted by: owl on February 3 2008 9:28 PM
Commercial development is being driven by investors - motels, retail .... some of that is speculation, other is with 5+ year leases. Look at Pine Centre reinventing itself, plus Westgate filling out.

Institutional is government investing in the community ....

Housing is virtually all speculative. I would think ther are relatively few custom homes.

What I do not see is industrial ... Pellet plant, CN intermodal or whatever that building is called ...

Plus civil works like the bridge, roads, subdivison infrastructure, etc.

It would be interesting to see the actual square footage or building volume for the construction rather than dollars. Wondering how much of that is for inflation of construction costs as opposed to building larger units in the housing sector.