The value of building permits issued by the City of Red Deer so far this year has fallen behind last year’s pace.
The Inspections and Licensing Department reported on Thursday that it approved projects worth a combined $9 million in August, bringing the eight-month total to $83.8 million. That compares with $93.7 million in building permits approved during the first eight months of 2009, and marks the first time since May that cumulative construction values have been lower this year than last.
The August 2010 approvals included $7.1 million in residential work, $1.6 million for commercial projects, $228,000 in the industrial category and one public permit worth $7,000. Among the largest was a permit issued to J2K Inc. for an apartment building at 3715 51st Ave.
Last August, the city approved $25.4 million worth of work. That figure inflated by a $12.5 million permit for the downtown parkade project and a $3.7 million permit for the ATB Financial branch at 6794 50th Ave.
Residential permits last August accounted for $6.8 million of the monthly total.
For the year to date, the $50.6 million in residential approvals exceeds last year’s tally by $3 million. Commercial permits, worth $15.7 million, is only slightly behind the figure for last year, and $9.3 million in industrial-related work is more than $8.5 million ahead of the tally for 2009.
The value of public projects, however, is much lower this year than last — with the eight-month figure for 2010 up to $8.2 million, versus $29.3 million the preceding year.