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

Value of Red Deer building permits falls by nearly half in 2019

Building permits issued to end of October 2018 was $199 million compared with $103 million this year

The value of Red Deer building permits is nearly half what it was a year ago.

In the first 10 months of this year, the City of Red Deer issued 942 building permits worth $103.2 million. Over the same period last year, 935 permits worth $199.2 million were issued.

Commercial and public building permits account for the biggest drop in dollar values.

There were 301 commercial permits worth $63.7 million to the end of October, compared with 229 permits worth $107.6 million last year.

For public projects, 39 permits worth $5.7 million have been issued so far this year, compared with 38 worth $49.2 million last year.

On the residential front, this year has been slower than 2018, with 553 permits worth $22.5 million issued in 2019. Last year, 611 permits worth $28.3 million were approved.

October reflects the broader trend of more permits being approved, but for projects worth less. There were 106 permits worth $6.6 million issued last month, compared with 101 worth $33.4 million a year ago.

Among the significant permits issued last month was a $1.5-million permit for a dividing wall and lighting at Red Deer Catholic Regional Schools Montfort Centre.

A permit for a cold storage accessory building in Queens Business Park was valued at $600,000.

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