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July good for multi-family housing

Multi-family residential building permit numbers improved in July.
August 14, 2014 - 12:32 PM

KAMLOOPS - While the number of permits for multi-family units was significantly higher for July 2014 over the previous year overall, units are still down quite a bit this year.

Last month permits were issued for 60 new multi-family units, up from only 12 in July 2013, but that did help put a dent in the 138 unit difference in place heading into the second half of the year.

A $9.2 million apartment complex featuring 53 units accounts for the majority of multi-family permits in July, though another $1.6 million in multi-family permits and another $4.3 million in single family permits were also issued.

Single family units were down just slightly in July but are still up overall though not enough to make up for the decline in multi-family permits, meaning residential permit numbers are still down by more than 70 year to date, though the total value of permits is higher for single family units as well.

Commercial building permits improved in July as well with 13 permits valued at nearly $44 million issued. While commercial permit numbers are still down year to date the value is nearly $27 million higher in 2014.

Overall permit numbers continue to fall short of 2013 counts though the overall value remains $35 million higher after the first seven months of the year.

To contact a reporter for this story, email Jennifer Stahn at jstahn@infonews.ca or call 250-819-3723. To contact an editor, email mjones@infonews.ca or call 250-718-2724.

News from © iNFOnews, 2014

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