November 26, 2007

Calgary’s building permits surpass last year’s totals

The City of Calgary released building permit estimates for October 2007, which show that the city has already surpassed last year’s total construction values with two months left in the calendar year.

Calgary’s year to date total construction value currently sits at $4.95 billion, compared to the 2006 year-end total of $4.76B.

While residential totals fell slightly in October from the same time last year, non-residential construction values for the month reached $495 million, up 42 per cent from October 2006.

Permit applications for several significant construction projects were received in October, including office and warehouse projects such as Eighth Avenue Place, Glenmore Professional Centre (Phase 2), Great Plains Distribution Centre and Millard Refrigerated Services (Phase 1). Residential projects included Ascent and Bella Casa apartment housing. Additionally, an application for a new District #1 police station was received in October. Building permits are a barometer of intentions in the construction industry and are not actual construction starts.

– JOC News Service

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