Red Deer’s construction sector enjoyed a rebound month in August, pushed upward by the city’s downtown parkade project and a new ATB Financial branch.
The value of building permits issued by the Inspections and Licensing Department last month hit $25.6 million, nearly $10 million more than for the same month in 2008.
The three-level parkade being built above the city’s transit terminal at 4830 48th St. contributed $12.5 million to the $12.9 million in construction approvals in the public category. Last August, public projects accounted for a combined $5.3 million in building permits.
Commercial work last month added another $5.8 million worth of permits, with $3.7 million of this related to the ATB Financial branch being constructed at 6794 50th Ave. A year ago, commercial projects generated $1.8 million in permits.
The value of building permits issued for residential construction in August also exceeded the tally for the same month in 2008. It hit $6.8 million, up from $6.7 million.
The only year-over-year decline in permit values came in the industrial category, where the figure dropped to $156,000 from $2.1 million.
“This is a good indication that the construction industry is beginning to pick up after a slower start to summer,” said Rachelle Tepanier, an administrative assistant at Inspections and Licensing, in a news release issued by the city.
Despite the higher permit values this August as compared with a year ago, the cumulative number for the year — $94.2 million — is a little more than half the total for 2008 to the same point.
Residential construction so far this year has accounted for $47.8 million, as compared with $76.1 million for the same eight-month period in 2008. Public permits so far this year have contributed $29.3 million, down from $68.8 million; commercial permits are at $16.1 million, down from $34.3 million; and industrial permit values stand at $950,000, a drop from $6.7 million.