Constuction values down in second quarter

Construction value was down in the second quarter of 2015 as compared to the same quarter in 2014.

Construction value was down in the second quarter of 2015 as compared to the same quarter in 2014.

The City of Cranbrook released its quarterly building permit summary for April to June 2015, which showed a total construction value of $3.8 million, as compared to $5.3 million in the second quarter of 2014.

At council on Monday, CAO Wayne Staudt noted that the second quarter of 2014 saw six new housing starts — single family and medium multi-family — and five manufactured/mobile home foundations as compared to 14 new housing starts and 5 manufactured/mobile home foundation for the second quarter of 2014.

Staudt said that a total of 61 building permits were issued in the second quarter of 2015 as compared to 62 for the same period in 2014.

Residential construction made up the biggest chunk of the second quarter construction values with $3.3 million in 2015, as compared to $4.1 million in 2014.

Commercial permits for the quarter also decreased. In 2015 they were at $324,100 for the period, while in 2014 they were at $933,801.

Industrial permits were at $0 in the second quarter of 2015, while they were at $160,000 in the same period of 2014.

Institutional building values was the only category that went up in the second quarter of 2015 as compared to the prior year, with $69,781 in 2015 as compared to $5,000 in 2014.

Government construction values were at zero in both years’ quarters.

Signs permits were at $81,705 in the 2015’s quarter, compared to $162,216 in 2014.

Staudt said the year-to-date construction costs for 2015 are $5.9 million as compared to $27.9 million to the end of June 2014.

“As of June 30, 2015, a total of 109 permits have been issued, compared to 111 for the same period in 2014,” Staudt read.

The following comparisons are for the year-to-date construction values up to June 30 of each year.

Residential was $4.8 million in 2015, compared to $6.4 million in 2014. Commercial was $873,031 in 2015, compared to 5.9 million in 2014. Industrial was $26,714 in 2015, compared to $325,000 in 2014. Institutional was $99,781 in 2015, compared to $15 million in 2014.

Government was zero for both years. Signs was 132,348 in 2015, compared to $233,405 in 2014.