Industrial building permits down in Calgary
Posted Jun 4, 2010 12:10 am.
This article is more than 5 years old.
Building permit values plummeted by more than 50 per cent for the month of May, compared to last year.
Calgary pulled in $547 million in May of 2009, compared to $241 million this year.
The slowdown is blamed on a drop in major industrial projects, like the Bow Building and the new south hospital.
Stan Swartzenberger with the City tells 660News, since the beginning of this year they’re seeing more new homes being built.
He says in the first five months of this year, they’re seeing a difference in the nature of the permit applications, which are moving away from small-value renovations to new residential development.
Residential permits stand at more than double what they were last year.
Single family home permit values came in at $118 million, and more than $11 million for townhouses.
The bounce back in the economy, is one of the reasons given for an increase in home building.
