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Calgary`s Building Permits hit $532M in October; Double `08 Levels
CALGARY - The estimated construction value of building permit applications for October hit $532 million, according to the City of Calgary.
In data released today, the city said this is more than double compared with October 2008 ($248 million), up 19 per cent compared to the five-year average (October 2005-2009; $449 million) and up 64 per cent compared to the 10-year average (October 2000 to 2009; $325 million).
Residential values rose by 123 per cent to $164 million, led by $131 million in new single-family construction, representing 525 new residential dwelling units.
Non-residential values for the month were also up by 111 per cent to $367 million, led by $283 million in new institutional spending including the new $117.6 million Bow Valley College South Campus, the new $104.7 million SAIT Trades & Technology complex (Centre Wing) and the new $61.1 million SAIT Trades & Technology complex (West Wing).
Year-to-date, total permit values are still down 14 per cent to $2.9 billion compared with $3.4 billion in 2008.
Read the full article here.
CALGARY - The estimated construction value of building permit applications for October hit $532 million, according to the City of Calgary.
In data released today, the city said this is more than double compared with October 2008 ($248 million), up 19 per cent compared to the five-year average (October 2005-2009; $449 million) and up 64 per cent compared to the 10-year average (October 2000 to 2009; $325 million).
Residential values rose by 123 per cent to $164 million, led by $131 million in new single-family construction, representing 525 new residential dwelling units.
Non-residential values for the month were also up by 111 per cent to $367 million, led by $283 million in new institutional spending including the new $117.6 million Bow Valley College South Campus, the new $104.7 million SAIT Trades & Technology complex (Centre Wing) and the new $61.1 million SAIT Trades & Technology complex (West Wing).
Year-to-date, total permit values are still down 14 per cent to $2.9 billion compared with $3.4 billion in 2008.
Read the full article here.