April 08, 2015 - 10:30 AM
KAMLOOPS - With the first quarter behind us the construction industry remains strong in Kamloops.
More than $21 million in building permits were issued in March, up more than $3.3 million over March 2014 and a total of nearly $22 million year over year.
A total of 31 single family permits were issued in March 2015, up from 28 in 2014, but only two multi family permits were issued, down significantly from the 44 issued last year. The large difference is thanks to a permit issued for a 43-unit apartment complex in March 2014. Residential permits remained just above 2014 for the total number issued, but the values were down $6.5 million overall in March, which can also be attributed to the apartment complex.
Year to date numbers remained well above 2014 though, with 127 permits valued at nearly $25.6 million so far in 2015 compared to 69 permits valued at just under $20 million at this point in 2014.
Commercial construction is significantly ahead of 2014 with March bringing in more than $10 million worth of building permits, compared to just $1.5 million in March 2014, for a total of $24.5 million in the first three months of 2015. In the first quarter of 2014 nearly $8.7 million in commercial permits were issued.
In the first quarter, year over year, the total number of all permits issued this year is 60 per cent more than in 2014 with 385 while the value of those permits is 71 per cent higher at $52 million.
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News from © InfoTel News Ltd, 2015