Construction slump continues
November 13, 2009
Parkites in October spent money making alterations or additions to buildings, but there was little other permitting activity in the Park City construction industry, the city’s Building Department reported.
According to the department, the alterations or additions accounted for $2.3 million worth of work in October. The rest of the permits issued that month totaled $731,600, the department said. Most of the money spent on alterations or additions went into dwellings, with work on commercial buildings accounting for $379,000 of the $2.3 million.
The department said 68 of the permits for alterations or additions were issued to people working on dwellings. Another seven went to people working on commercial buildings.
No permits were issued for houses, duplexes, multi-family buildings or commercial buildings. Those types of permits typically are the most valuable.
Combined, the permits issued in October are valued at just less than $3.1 million. The figure fell sharply from the previous month and the same month the year before. In September, $6.2 million worth of work received permits. In the previous October, the Building Department issued permits for $43.8 million worth of work.
Through the end of October, the year-to-date value of construction, $64.4 million, was less than half of the figure tallied through the same period in 2008. the end of October 2008, the industry had posted $138.5 million. The numbers have been well off the 2008 pace for much of 2009.
Recommended Stories For You
Building inspections in October — an average of 232 each workday — were down from the previous month and from the previous October.
The number of electrical, plumbing and mechanical permits was mixed compared to the previous month and the previous October.
A major permit issued early in 2008 for work at the Montage in Empire Pass continues to buoy the year-to-date numbers. The permit was valued at nearly $26.9 million, nearly 42 percent of the citywide total.
The Building Department had long expected that 2009’s numbers would drop sharply from 2008, itself a down year compared to the construction industry’s boom time earlier in the decade.