Park City construction numbers rise from 2012 tally
April 19, 2013
The Park City construction industry enjoyed a solid month in March, outpacing the figures from February and the previous March, the Park City Building Department said.
According to the department, 62 permits were issued worth a little more than $4.1 million combined. The dollar figure climbed sharply from the little less than $1.2 million in permits issued in February and the just more than $1.3 million tallied in the previous March.
Through the end of March, the year-to-date total reached to nearly $6 million, up from the $4.9 million through the same period in 2012.
The March numbers are likely encouraging since it is a month when construction crews often seek the permits they need to break ground later in the spring or the early summer. The 2013 dollar figure was roughly triple those from March 2012.
The department in March issued one permit for a duplex, valued at a little less than $1.1 million, and one permit for a three-unit multifamily building. The building is valued at $998,271.84.
Alterations and additions, though, continued to push up the figures. The Building Department said it issued 45 permits for alterations and additions, valued at a just more than $2 million combined. Most of the permits, as well as the dollar value, were generated from residential properties.
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Alterations and additions have had an outsized impact on the numbers since the recession as owners chose to work on their existing properties instead of building new ones. Those sorts of permits, though, are typically not as valuable as ones issued for new projects.
The Building Department in March conducted an average of 60.67 inspections each day, down from the previous month and the previous March.
The March numbers included a duplex on Lookout Drive valued at a little less than $1.1 million and a triplex on the 500 block of Woodside Avenue, valued at $998,271.84.
The construction industry remains well off the pace of the period between the 2002 Winter Olympics and the onset of the recession, when builders enjoyed a string of record-breaking years. The recession struck at a time when the construction industry inside the city was expected to slow anyway as the number of large development parcels dwindled.