Building permit values droop

Building permit values in Red Deer were down last month, as compared with the same period in 2013.

Building permit values in Red Deer were down last month, as compared with the same period in 2013.

The city approved $8.8 million worth of construction in February, a 25 per cent decline from $11.8 million a year earlier.

Residential permit values were slightly lower, slipping to $7.7 million from $7.9 million, while commercial work declined to $1.1 million from $1.6 million, and industrial projects fell to $21,000 from $843,000.

There were no permits for public projects last month, whereas in February 2013 a permit for the Red Deer Public School District’s new kindergarten-to-Grade 5 school in Timberlands helped boost values in the public category to $1.5 million.

Despite the reduced permit numbers last month, Red Deer’s Inspections and Licensing Department is still well ahead of the pace it was setting a year ago at the same time.

As of Feb. 28, the city had approved $24.5 million in construction for 2014 — a 20 per cent increase over the two-month tally to start 2013.

Residential permits have contributed $19.6 million to this year’s total, up from $13.9 million; and industrial permits have accounted for $3.6 million, up from $1.5 million.

The value of work approved in the commercial category this year has slipped to $1.3 million from $2.6 million, and public permit values have dropped to $22,000 from $2.5 million.

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