Park City’s construction industry hasn’t cracked $10 million yet
June 4, 2010
Park City’s construction industry through the end of May had not broken the $10 million mark in 2010 and continued at a pace well off the numbers recorded through the same period the year before.
According to the Building Department, the amount of permit-authorized construction totaled $9.5 million through the end of May. In the year before, the total was $42.1 million, more then four times the amount tallied in 2010.
Still, though, this year’s May numbers account for more than one-third of the annual total through the end of the month.
The Building Department’s monthly report indicated alterations and additions accounted for much of the activity in May. The department issued 55 permits for alterations and additions to either dwellings or commercial buildings, with the combined total reaching just under $2.5 million, or nearly 70 percent of the monthly sum.
The department issued one permit for a house, valued at $969,191.60. A handful of other permits went to people relocating or demolishing a building, putting up a sign or erecting unspecified types of buildings.
The number of electrical, plumbing and mechanical permits was mixed compared to the previous month and the same month the year before. The department’s inspection load fell considerably from the other months on the report. The Building Department said it averaged 149 inspections each day in May, down from the 204 the month before and the 220 in the same month the year before.
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City Hall officials have long expected the numbers this year would fall from the figures recorded in 2009, itself a down year compared to the record-setting tallies in the past decade.
The recession cut deep into the local real estate market, causing a slowdown in development. Meanwhile, the number of major developments underway or anticipated to be built inside Park City has fallen significantly, meaning that any rebound in construction might be lackluster when compared to the busiest times.
The slowdown has been cited as one of the causes of City Hall’s difficult budget talks, which have been the toughest in years.