Park City construction industry suffers slow start to the year
The Park City Building Department through the end of February had issued a little more than $1.8 million worth of permits, a figure that trails the 2012 number by a wide margin.
The Building Department said the dollar figure in the first two months of 2012 sat at nearly $3.6 million. January and February are typically not among the busiest months for the industry, but it was a slow start to 2013 nonetheless.
The department issued 52 permits in February worth a little less than $1.2 million. The month followed a January when less than $700,000 worth of permits was issued.
According to the Building Department, alterations and additions accounted for nearly all of the dollar value of the permits issued in February. No permits were issued for new projects like houses, duplexes, multi-family structures or commercial buildings. Two permits for signs were issued as were 17 for relocations or demolitions.
Alterations and additions have accounted for a larger chunk of the overall dollar figure in the years since the start of the recession. Property owners have opted to build additions or remodel their places instead of building new ones in recent years. Permits for alterations and additions, though, are typically not as valuable as those for new structures.
The Building Department in February issued two permits valued in the six figures. The most valuable was a $525,000 permit for an addition on the 1100 block of Woodside Avenue. The other six-figure permit, pegged at $250,000, was for an interior remodel on Nakoma Court.
The department’s inspection load was a little less than 88 per day in February, down from the nearly 100 daily inspections in January and the approximately 101 per day in the previous February.
The construction numbers fell sharply in Park City as the recession wore on. During the boom years between the 2002 Winter Olympics and the onset of the recession, the industry sometimes topped nine figures in the year-end report.
The recession hit at a time when construction inside Park City was expected to level off anyway as the number of major development parcels dwindled.
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Utah Open Lands, short approximately $1.1 million with just days left to finalize a Thaynes Canyon conservation agreement, has requested financial assistance from City Hall. The organization has asked to put additional monies toward the deal above the $3 million already pledged by Park City voters.