Builders post solid May, but year-to-date figure slightly trails 2012
June 28, 2013
Park City’s construction industry posted a solid May, the Park City Building Department reported, but the monthly number trailed the figure from the previous May and the year-to-date dollar figure in 2013 is slightly behind the 2012 tally.
The Building Department reported 133 permits valued at a little more than $6.9 million were issued in May. The number of permits and the dollar figure were up from April. Although the number of permits was up from the previous May, the value slid from the nearly $7.9 million recorded in May 2012.
The year-to-date total sat at a little less than $18.5 million through the end of May. In the same period the year before, the Building Department issued a little more than $18.6 million.
The Building Department in May issued permits for four houses. The combined value was nearly $2.7 million. The most valuable permit of the month was issued for a house on Solamere Drive, pegged at little more than $1 million. No permits were issued in categories like duplexes and multi-family developments.
Alterations and additions, however, continued to push up the numbers. The Building Department said alterations and additions accounted for nearly $4.2 million if the monthly total, or nearly 61 percent of the tally for May.
Alterations and additions have had an outsized impact on the construction numbers since the recession as property owners opted to fix up or expand their places instead of building new ones. Permits for alterations and additions, though, typically are not as valuable as those issued for new projects.
Recommended Stories For You
Some of the permits valued in the six figures included a $533,333 addition on Main Street, a $500,000 addition on Coalition View Court and a $350,000 addition on Main Street.
The Building Department’s inspection load in May, nearly 58 per day, was down slightly from April and from the previous May. The year-to-date inspection total is down from the same period in 2012.
Park City’s construction industry posted a series of record-breaking years in the time between the 2002 Winter Olympics and the onset of the recession. The numbers fell sharply from the biggest years as the economic downturn wore on and the number of large development parcels dwindled.