Apartment complex buoys Kamloops building permit values
By Brendan Kergin
(BRENDAN KERGIN / iNFOnews.ca)
July 06, 2016 - 11:30 AM
KAMLOOPS - For the first time this year, building permits in Kamloops out valued last year.
Thanks to an apartment complex near Thompson Rivers University, an increase in residential value and total value in building permits is on the books for June. This is the first time a month in 2016 had a higher total value than the same month in 2015.
Commercial permits in June 2016 were worth just under $400,000 less than the same month in 2015 while miscellaneous permits were almost $45,000 more. Aside from the apartment building being constructed at 765 McGill Rd. near the university, residential numbers were similar as well.
The total value for permits for June 2016 was almost $25.5 million, while June 2015 was nearly $11 million.
Total year-to-date dollar values in 2016 still lags behind 2015, but residential construction has surpassed 2015 in value now, after passing 2015 in number of residential permits last month. The value increase is largely due to two apartment projects, while the number of additions and alterations permits have jumped, with 137 in 2016 compared to 79 in 2015. There have also been 30 more permits for duplexes or secondary suites than 2015, increasing from 10 to 40.
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