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Building stats edge upward
LOCAL BUILDING activity is continuing to push past last year’s numbers.
So far this year, there’s been $6.8 million worth of building permits in the City of Terrace by the end of June, compared to $4.7 million by the end of June 2010. This year is also slightly higher than the city’s 10-year average year to date of $6.5 million.
City building inspector Bruce Miller says construction is doing well.
There were 26 permits this June for a value of $1.35 million, lower than the 31 permits in June 2010 valued at $3 million.
The big difference last June were 15 residential permits valued at $2.93 million. A big chunk of this, $2.5 million, came from five multi-residential permits, which included the seniors housing development complex on Davis Ave.
“That’s what jolted the (stats) out of proportion,” Miller said. “One large project kind of skews the perception of what’s happening a little bit.”
This June, there were 13 separate residential projects that add up to $1.2 million.
Miller said residential activity usually reflects escalating residential market values, which goes along with people moving into the area.
“It’s the biggest indicator of growth in the community, to see new homes being built,” he said. “New houses mean people are investing in the community.”
May was also a good month. There were 21 permits valued at $2.3 million this May, compared to the 17 permits valued at $874,800 in May 2010 thanks to commercial projects.