Park City construction industry ends first half up 31 percent
July 6, 2012
Park City’s construction industry in the first half of 2012 topped the numbers from the same period the year before, but the tally remains lackluster compared to the record-setting years prior to the recession.
According to the Park City Building Department, permits valued at a little more than $23.6 million combined had been issued through the end of June. The figure through the same period in 2011 sat at $18 million. This year’s numbers are up approximately 31 percent from 2011.
But even with the increase, the year-to-date figure is depressed when set against the biggest years between the 2002 Winter Olympics and the onset of the recession. The construction industry in that time enjoyed record-breaking numbers as major developments went up alongside numerous smaller projects during one of Park City’s great boom periods.
The department in June issued 106 building permits valued at a little more than $5 million combined. The number fell sharply from the nearly $7.9 million in permits issued in May, but it was up significantly from the approximately $3.1 million issued in the previous June.
The number of electrical, plumbing and mechanical permits was down from the previous month and the previous June. The department’s daily inspection load — 86 in June — was up from May but down significantly from the 128 per day in the previous June.
Alterations and additions pushed up the dollar figure in June. The categories accounted for nearly 73 percent of the total valuation in the month. Alterations and additions have been much more important to the overall numbers during the recession as property owners upgraded their places instead of building new ones. They are typically not as valuable as new construction projects, though.
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The Building Department issued one permit for a residential building in June, a $1,343,442.26 house.
It is difficult to project how the year-end numbers will compare to the others during the recession era. There is a chance several high-dollar permits could be issued later in 2012, but the development timelines are unclear.