Park City construction industry closed out 2014 strong
February 3, 2015
The Park City construction industry finished 2014 with another solid month, capping one of the best years builders have ever had.
According to the Park City Building Department, 88 permits were issued in December with a combined value of a little more than $8.7 million. The number fell sharply from a strong November, when approximately $17.4 million worth of permits was issued, but it was up from the previous December. In the same month in 2013, the Building Department issued $6.1 million worth of permits.
The year-end dollar figure was nearly $144.9 million, beating by a wide margin the approximately $75 million in 2013. It seemed apparent early in 2014 that the numbers would beat those tallied in 2013, but the industry eventually crushed them.
The December numbers were pushed upward by seven permits for houses. They were worth a little more than $4.3 million combined. One permit for a multifamily project was issued. It was valued at a little more than $3.2 million.
The Building Department, meanwhile, issued nearly $1.1 million worth of permits for alterations or additions. Most of the alterations and additions permit as well as their dollar value were in the residential category.
The little more than $8.7 million for the month was the strongest December in at least three years. It also capped a strong fourth quarter for the industry with $10 million plus months in November and October.
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Some of the notable permits issued in December included:
The Building Department in December averaged nearly 80 inspections per day, down from the nearly 91 per day in November and the approximately 93 per day in the previous December.
The number of electrical, plumbing and mechanical permits in December was generally down from the previous month and the previous December.
The construction industry in 2014 mounted a comeback from the depths of the recession, recording its first $100 million year since 2008. The numbers represented broad strength in the industry. A series of large construction projects was coupled with numerous renovations or additions.
Observers credited a strong economy and Park City’s status as a top-tier mountain resort as reasons for the construction increases in 2014.