Slower October, but Kamloops still on pace for record-breaking building year

There have been $211 million worth of permits issued through 10 months of the year. The record amount for a calendar year is $224 million, established in 2017

While the number of building permits issued was down in October compared to last year, construction continues to be strong overall for the year in Kamloops.

The city saw $24 million worth of building permits issued during the sunny days of October through Halloween — a value decline of 41 per cent from the same month last year, which saw $40.8 million worth of permits handed out.

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The total number of permits issued in October was 142, compared to 171 last year.

Broken down further for that month, $19.2 million worth of permits issued in October were residential, including one $10.5-million multi-family permit. That project is the modular housing project at 317 Tranquille Rd. on the North Shore.

Commercial permits, meanwhile, were worth $3.9 million, much less than the $26.9 million in permit value issued during October of last year. The $3.9 million in commercial permits are centred largely around two industrial permits worth a collective $2.4 million.

Overall, however, construction values continue to be strong — $210.6 million worth of permits issued through October compared to $183.5 million during the same 10-month period last year.

The city continues to be on pace to break its record last year of $224 million worth of building permits. The city’s development director, Marvin Kwiatkowski, is expecting between $240 million and $250 million to hit the books by year’s end.

© 2018 Kamloops This Week

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