New home construction in Vernon driving up development
February 13, 2018 - 7:00 PM
VERNON - The City of Vernon is brushing off the sawdust after another busy year for construction.
Economic development manager Kevin Poole told Vernon council that building permits values rose to $130 million, up about three per cent over 2016, and well above the last five-year average, which was $102 million.
In 2016, building permit values were largely stimulated by institutional builds like The Hamlets, a care home, and various multi-family developments, like the BX Crossing apartment building. In 2017, it was a bit of a different story, with numerous single family projects spurring growth.
“Residential is really driving that,” Poole said. “What’s interesting is… there’s a lot of single family (construction) this time around.”
New single family development accounted for 36.7 per cent of building permits issued, and construction happened all over the city, Poole said.
“It’s really spread out throughout the community which is good to see that activity all over the place,” Poole sayd.
In particular, Predator Ridge and the Foothills contributed substantially to the total building permit value.
Poole also noted Vernon’s latest vacancy rate — 1.5 per cent — and said there is interest in developing new rental complexes.
Major projects in 2017 include the new ice sheet at Kal Tire Place, the Hamlets care home and the North Okanagan Neurological Association clubhouse.
To contact a reporter for this story, email Charlotte Helston or call 250-309-5230 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.
We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above.
News from © InfoTel News Ltd, 2018