June building permit values up 21 per cent; previously stalled project restarted

The estimated construction value of building permit applications for the month of June 2011, $420 million, is up 21 per cent compared to June 2010 ($346 million), down 1 per cent compared to the five-year average (June 2007-2011; $426 million) but up 17 per cent compared to the ten-year average (June 2002 to 2011; $358 million).

 

Permits for the month include seven projects valued over $10 million, including Strategic on 4^th ($24 million), a previously suspended project in Mission.

 

“It’s nice to see applications coming in for larger non-residential projects, particularly when that includes a previously suspended project,” says David Watson, General Manager, Planning, Development & Assessment. “We are very pleased to see the Strategic on 4^th project move forward as an indication of an increasingly viable market.”

 

For the month of June 2011, residential values exceeded industrial, commercial, institutional and government combined, with $220 million in residential activity compared to $200 million in the non-residential category. Compared to June 2010 residential values are up 12 per cent from $196 million and non-residential values are up 33 per cent from $150 million.

 

Year-to-date ending June30, 2011, total values across all categories are up 44 per cent over the previous year to $2.3 billion (compared to $1.6 billion in 2010), with the residential category up 3 per cent to $988 million and the non-residential category up 102* per cent to $1.3 billion.

 

(*As a reminder, year-to-date non-residential values are significantly higher than 2010 due to a major airport terminal improvement project valued at $600 million from January 2011).

 

Other major projects for the month include a $43 million office project (Shaw Data Centre), a $28 million generating plant (Shepherd Energy Centre), a $17 and $7 million warehouse/office project (Oxford business Park buildings F and B1), numerous apartment projects (Drake $24 million; Lions Village $12 million; Bishop O’Byrne $10 million; Kaleidoscope Birchwood Residential $10 million), and a new south Calgary emergency station ($7 million).

 

Building permits are a barometer of intentions in the construction industry and are not actual construction starts. To see additional information visit The City of Calgary Newsroom for an attached document.

 

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The City of Calgary, 3-1-1 Operations Centre

Phone: 3-1-1 or from outside the local calling area phone 403.268.CITY (2489)