Construction numbers remain behind 2007
Park City’s construction industry through the end of May continued to trail the record-setting numbers of 2007, the Building Department reports.
According to the department, about $92.4 million worth of construction had been permitted. Through the same period in 2007, the figure sat at about $107.8 million.
One commercial building, valued at about $6.9 million, pushed the May numbers up. Meanwhile, three houses received permits in May. The houses are valued at a little less than $2.2 million combined. Alterations and additions to dwellings and commercial buildings were also valuable in May, with the department indicating they were worth about $5.5 million.
The number of electrical, plumbing and mechanical permits was mixed compared to the previous month and the same month the previous year.
The department’s inspectors, however, were busy in May. They averaged 249 inspections each day, up from the 197 daily in the previous month and the 169 each day recorded in the previous May.
The industry posted about $14.6 million in construction in May, climbing past the $9.2 million in April. The May figure, though, trailed the same month in the previous year, when $26.3 million in construction was permitted.
Officials have said there is a chance the construction industry this year could eclipse its 2007 record of $239.7 million, but the prospects of another record are difficult to gauge.
Recent real-estate numbers showed a steep decline in sales in the Park City area, but construction continues on high-end projects. Agents remain optimistic about Park City’s market, saying houses and condominiums are priced reasonably compared to other mountain resorts like Aspen, Colo., and Jackson, Wyo., and they say Park City, situated just outside Salt Lake City, is easier to reach than its competitors.
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