Red Deer building off to slow start in ’12

Residential construction in Red Deer is off to a sluggish start this year, at least based on statistics issued by Canada Mortgage and Housing Corp. on Wednesday.

Residential construction in Red Deer is off to a sluggish start this year, at least based on statistics issued by Canada Mortgage and Housing Corp. on Wednesday.

The national housing agency reported that there were 12 residential construction starts in the city in January, with 10 of these single-detached homes and the other two units in multi-family projects. That’s down 59 per cent from the same month last year, when work began on 27 single-detached homes and two multi-family units.

The figures for last month appear to be at odds with building permit numbers issued by the City of Red Deer on Tuesday.

They indicated that 68 residential permits for $9.2 million worth of work were approved in January, as compared with 56 permits for $5.5 million in construction the previous year.

However, among the January 2012 permits was one worth $4.2 million for a three-storey apartment building. And building permits often reflect builders’ construction plans for months.

CMHC indicated previously that it expects housing starts in Red Deer to increase sharply in 2012. It cited an improved supply of residential lots, a smaller inventory of unsold new homes on the market, and economic and employment growth as factors likely to spur construction.

Among Alberta’s seven largest urban centres, the Edmonton metropolitan area posted a 59.2 per cent jump in housing starts from January 2011 to January 2012.

The Calgary metropolitan area was up 51.7 per cent and Medicine Hat improved by 50 per cent. Housing starts in the Regional Municipality of Wood Buffalo was 13.6 per cent lower this January, and residential construction in Lethbridge slid 71.9 per cent.

Year-over-year comparisons for Grande Prairie were not available because of recent changes to the city’s municipal boundaries.

Be Among The First To Know

Sign up for a free account today, and receive top headlines in your inbox Monday to Saturday.

Sign Up with google Sign Up with facebook

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Reset your password

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

A link has been emailed to you - check your inbox.



Don't have an account? Click here to sign up