City of Red Deer building permits are up through the first five months of 2019, but the value is down from a year ago. Red Deer Advocate file photo

Red Deer building permit values down sharply compared with 2018

Total value of building permits down nearly 72 per cent compared with 2018

The value of Red Deer building permits is down 72 per cent over the first nine months of the year compared with 2018.

While the number of permits issued is almost identical — 836 compared with 834 in 2018 — the $96.5 million value this year is far behind last year’s $165.7 million through Q3.

There have been 486 residential permits issued worth $19.4 million this year compared with 566 permits worth $26.1 million a year ago.

For September, 94 permits were issued with a combined value of just over $11.3 million, compared with 92 permits issued valued at $33.7 million a year ago.

Notable permits for September include construction of shop and office space at 136 Queensland Cr. valued at $6.1 million and $700,000 worth of interior improvements at Best Buy.

The number of commercial permits is up for the year — 274 compared with 180 in 2018 — but the value is down — $60 million compared with $79.7 million a year earlier.

There were 44 industrial permits worth $11 million issued through nine months, compared with 53 worth $13.8 million a year ago.

Spending on public buildings is way off this year. Thirty-two permits worth $5.3 million have been issued this year, compared with 35 worth $46 million last year.

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