Construction values soaring: City

Construction values soaring: City

Growth led by residential, industrial development, according to top administration official

Construction totals are up in the second quarter and year-to-date values over last year, according to the City of Cranbrook’s top administration official.

David Kim, the Chief Administrative Officer, reports that the second quarter construction has doubled this time last year at $16 million, with much of the new values attributed to residential, residential multi-family and commercial.

Kim says 86 building permits were issued in 2018 Q2, as opposed to 95 for the same period last year.

Year-to-date construction costs are nearly tripled at $30.2 million, as opposed to $9.62 million by the end of June 2017.

Again, the rise in the year-to-date can be attributed to residential and multi family residential, which is up by $13 million over last year. Industrial values are also up by $5 million as opposed to half a million YTD in 2017.

Kim reports that a total of 133 permits have been issued as compared to 125 for the same period last year.

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