Park City’s construction numbers nearly triple in January
February 17, 2012
Park City’s construction industry posted a solid January when put against the same month in 2011, the Building Department reported, but the figure remains down from the biggest months prior to the recession.
The Building Department said 43 permits valued at a little more than $2.3 million combined were issued in January. In the previous January, the department issued 38 permits worth $849,700 combined. The January numbers nearly tripled those from the same month the year before.
A permit for a duplex pegged at a little more than $1 million pushed up the January numbers. A permit to build a house, valued at $732,605.60, also helped the tally in January. Alterations and additions, important categories for the industry during the recession, accounted for another $538,768.
The number of electrical, plumbing and mechanical permits was mixed compared to the previous month and the previous January.
The Building Department in January averaged 107.1 inspections per day, down slightly from December. The average, though, fell sharply from the nearly 181 each day in the previous January. The January inspection load is typically heavy as the Building Department looks at numerous temporary structures related to film festival week.
The construction industry remains well off the record-setting pace in the years between the 2002 Winter Olympics and the onset of the recession. The industry enjoyed a series of record-setting years at that time.
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The recession hit at a time when Park City officials expected construction numbers to begin to plateau and possibly fall as the number of major development sites inside the city limits dwindled.
It is not clear what sort of numbers the industry will post in 2012. There are a few significant developments that could break ground this year, but timelines are not for certain. If there is greater confidence in the real estate market in the coming months, meanwhile, smaller projects that have been under consideration but pushed back based on the economy could proceed, adding to the year’s numbers.