Park City builders ratchet back up for another $10 million month
November 18, 2014
The Park City construction industry showed continued strength in October, posting another $10 million-plus month as builders enter what is typically a slowdown period as winter approaches.
The Park City Building Department in October issued 125 permits valued at a combined $12.4 million. The dollar figure soared above the $6.8 million in permits issued in September and also outdistanced by a wide margin the nearly $8.9 million posted in October of 2013.
The year-to-date figure at the end of October sat at $118.8 million, nearly doubling the $60.9 million through the same period in 2013. The construction industry in 2014 reclaimed its powerhouse status as a series of significant projects received permits. Numerous renovations and additions have pushed the numbers higher as well.
The industry in September hit $100 million for the year, the first time the numbers have reached nine digits since 2008.
"A lot of faith in Park City," Chad Root, the building official at City Hall, said about the numbers, adding that builders are also confident in the state economy.
The Building Department in October issued five permits for houses totaling $5.9 million. One duplex valued at $1.2 million received a permit. Alterations and additions tacked on $4.9 million.
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Some of the notable permits issued in October included a house on Red Cloud Trail valued at $2.8 million, a house on Stein Way valued at $819,105 and a house on Stein Circle valued at $801,200.
The Building Department, meanwhile, issued a nearly $1.2 million permit to remodel the April Inn, 545 Main St. The 12 residential units will be redone into three larger ones, Root said. The April Inn renovation is one of a series of significant construction projects along Main Street.
Some of the six-figure permits issued in October include:
The Building Department in October conducted an average of 139 inspections per day, up sharply from the 106 daily inspections in September and the 73 each day in October of 2013. The number of electrical, plumbing and mechanical permits was generally up from the previous month and the same month in the previous year.
October was the seventh month in 2014 that the industry topped $10 million. The industry in 2013 had not posted a $10 million month through October. There had been one month with at least $10 million worth of permits through October in 2012 and none through the same period in 2011.
Root said he expects the numbers in November will break a record for the month. He anticipates the November report will include a series of notable permits, including a remodel of The Yarrow, a building at 205 Main St., six houses at the Park City Heights development and a fourplex at Park City Heights.
The construction industry in Park City has roared back from the depths of the recession in a wide-ranging comeback that has involved a mix of new projects and remodels.