Kelowna breaks its $1 billion building record
For the first time ever, the City of Kelowna issued $1 billion worth of building permits in 2021.
That record has now been broken, thanks to a $35 million permit issued on Dec. 15 for the latest phase of Westcorp’s Ledge on Lakeshore project that pushed 2022 into new territory.
The total value of building permits issued by the city up to the end of the day on Dec. 16 was $1,203,651,122. That’s up by almost $16 million from last year’s full year record of close to $1.19 billion.
While those are big numbers, Kamloops more than doubled its building permit value this year. At the end of November it had issued permits worth $338 million, compared to $168 million for the first 11 months of last year.
The other larger cities in the region are up as well.
West Kelowna saw a slight increase of about $6 million to $212.6 million by the end of November.
Vernon permit values increased $30 million to $191.4 million to the end of November while Penticton hit $178.5 million worth this year compared to $165 million last year.
In total, the five cities issued permits, so far this year, for more than $2.1 billion.
The new phase of Ledge on Lakeshore will have three highrises, two of 10 storeys each and one at 17. The entire project will have 1,000 rental suites when it’s completed.
Permit values also got a $19 million boost on Dec. 9 for the latest phase of the Eden housing development at 155 Bryden Rd. in Rutland.
The development permit issued by the city for that project in 2021 shows two six-storey buildings with 192 units.
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