Construction activity inside Park City falls sharply in October
November 12, 2010
Construction activity in Park City in October fell sharply from two consecutive standout months, making it less likely that the year-end numbers will match those recorded in 2009.
According to the city’s Building Department, 96 permits were issued in October with a combined value of $2.3 million. The dollar amount plummeted from the previous month, when $17.4 million worth of construction received permits.
The September numbers relied heavily on two public-sector construction projects — the redo of the Racquet Club and the start of a transit facility outside the Public Works Building. The $17.4 million was by a wide margin the highest monthly total in 2010.
The Building Department indicated the October activity relied almost exclusively on alterations and additions to either residences or commercial buildings. The two categories accounted for all but $92,242.69 of the overall value of the permits issued in October. That means developers were not breaking ground on new projects. There were no permits issued for houses, duplexes, multi-family developments, commercial buildings or industrial buildings.
Meanwhile, the number of electrical, plumbing and mechanical permits was down from the same month the year before and mixed from the previous month.
The Building Department’s inspection load — 147 each day — fell from the month before and was down sharply from the 232 each day counted in the previous October.
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Through the end of October, the Building Department had approved $53.1 million worth of construction. At the same time the year before, $64.4 million had been tallied, leaving two months for the industry to make up the difference.
The Building Department has long indicated the industry might not match the dollar figure posted in 2009, itself a down year from the record-setting days before onset of the recession. But the big month in September made it seem possible that the year-end numbers in 2010 could beat those in 2009.
Officials have said developers are having difficulty obtaining financing to start construction even as plans have been approved. There are also a dwindling number of significant development sites left inside Park City, meaning that it could be some time before the construction industry posts additional record-setting years.