Building permits up, value down in TNRD
By Jennifer Stahn
Image Credit: Contributed
April 18, 2014 - 11:10 AM
KAMLOOPS — The month of March was on par with last year for building permits issued and number of units created in the Thompson-Nicola Regional District but the construction value of those permits is down by more than $2 million.
In total 17 new permits were issued, bringing the yearly total to 37, up three from 2013. The value of those permits sits at just over $2.1 million, down from the $4.13 million in permits issued in 2013.
Commercial permits were actually up by almost $400,000 but at just $1.54 million for 11 residential permits the value is well below the $3.91 million value for 14 residential permits issued in 2013. The same trend carries over the year to date totals, even with a couple more permits issued in 2014 the total value is down to $4.79 million from $6.84 million the year before.
The highest value of permits came from the Rivers and the Peaks region, where five permits totalled $1.3 million in value, up from $920,000 across five permits in 2013. The biggest drops were in the north and south Nicola Valley regions, where four permits hit nearly $1.8 million last year. One permit valued at $10,000, was issued in the north this year and one permit for $30,000 was issued in the south this year. Last year a single permit was valued at $1 million in the south region.
Meanwhile the district is looking at increasing the base building permit fees by up to $2 per $1,000 in construction value as well as the length of time the permit is valid for. Fees have not increased for 18 years and the adjustments will help the district catch up with cost increases considered ‘long overdue.’
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