After a strong month of June, the value of building permits issued by the City of Terrace in July slipped back below the value issued in July 2019.
Single residential was the highest value permit type in July, accounting for nearly $2 million of the month’s total value of just over $2.7 million. The highest value permit was for a single family dwelling on Marshall St., valued at nearly $400,000.
The most valuable non-residential permit was issued to Coast Mountain College. That permit is for the renovation of seven bathrooms at a cost of just over $150,000.
Garages and carports led the way in total number of permits issued with 10, followed by commercial renovation and single residential. Seven permits were issued for each of those categories.
While June 2020 saw a three-fold increase in permits issued compared to June 2019, the total value of permits in July ($2.7 million) was below that of July 2019 ($3.1 million). That is despite 18 more permits being issued this July.
The fact that there were more permits at a lower overall construction value can be attributed to a larger volume of less expensive commercial renovations this year.
The year to date construction value of City building permits is nearly $13.25 million, just under $2 million less than the $15 million year to date figure from July 2019.