Park City construction industry pulls back again
April 11, 2014
The Park City construction industry in March pulled back from the previous two months, but the year-to-date dollar figure continues to outpace 2013 after a strong January.
According to the Park City Building Department, the dollar figure at the end of March climbed to a little bit more than $21.2 million. The tally is more than triple the just less than $6 million that was recorded through the first three months of 2013.
A $15 million permit to redo the building once known as the Main Street Mall continues to prop up the 2014 year-to-date total. The January permit accounted for nearly 71 percent of the overall dollar figure through the end of March.
The Building Department in March issued 60 permits valued at a little less than $1.4 million combined. The dollar figure was the lowest of 2014, falling from the $2.4 million in February and the strong January. The number also fell from the previous March, when permits worth a combined $4.1 million were issued.
The Building Department report indicates no permits for new construction projects were issued in March. Fifty-one permits for alterations and additions were issued in March. They accounted for nearly all of the value in March. Most of the alteration and addition permits were issued for residential properties.
Alterations and additions have had an outsized impact on the construction numbers since the recession as property owners decided to fix up or expand their existing places instead of building new ones.
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The Building Department in March issued four permits valued in the six digits. The most valuable — $200,000 — was for a remodel on Oakwood Drive.
The number of electrical, plumbing and mechanical permits was down from February but up from March 2013. The Building Department in March conducted an average of 51.5 inspections each day, down from the low 60s tallied in the previous month and the previous March. The year-to-date inspection tally is down sharply from 2013, from 5,029 to 4,004.
It remains unclear what sort of numbers will be tallied by the end of 2014. It is possible that the numbers will be boosted later with several significant projects, but the timeline is not known.
The construction industry this year, though, is not expected to challenge the record-setting years between the 2002 Winter Olympics and the onset of the recession. There was anticipated to eventually be a slowdown regardless of the economy as the number of large development parcels dwindled.