Park City construction year starts with strong foundation
The Park City construction industry started 2016 strong, pushed up by a valuable permit for an addition and remodel in Park Meadows, the Building Department said.
The department in January issued 60 building permits valued at a little less than $6.1 million. The dollar figure was nearly twice the amount logged in the previous January, when permits worth a combined $3.1 million were issued. The number also beat by a wide margin the nearly $3.8 million in permits issued in December.
Permits issued for alterations and additions accounted for much of the dollar value in January. They were worth a little more than $5.1 million combined. The permits for alterations and additions accounted for approximately 85 percent of the overall dollar figure in January.
Alterations and additions have played an outsized role in the numbers since the recession, as property owners decided to fix up or expand their places instead of breaking ground on new projects. New construction, though, has enjoyed a comeback since a steep fall.
Some of the notable permits issued in January included one for an addition and remodel on the 2100 block of Monitor Drive pegged at a little less than $2.4 million and an interior remodel valued at $800,000 on the 2300 block of Park Avenue. There were several other permits for additions and remodels or remodels on their own that reached well into six figures.
The Building Department also issued a permit for a multifamily project with four units. The permit is valued at approximately $903,879 and was for a building on Tremper Drive in Park City Heights.
There were no permits issued in January for single family homes, duplexes, multifamily projects for five or more units or commercial buildings.
The Building Department estimates the market value of construction is three to four times the value that is attached to the permits.
The number of electrical, plumbing and mechanical permits was mixed compared to the previous month and the previous January. The daily inspection load, an average of a little more than 79 in January, was down sharply from the nearly 103 in December but up from the nearly 66 per day in the previous January.
The Park City construction industry is amid an especially strong comeback from the depths of the recession. The industry hit $100 million for the second consecutive year in 2015, something that had not been done since the recession.
The Building Department recently indicated the dollar figure might fall slightly from the 2015 numbers.
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