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City sees rise in home construction

Chad Eliason, Councillor, City of Salmon Arm - Observer file photo
Chad Eliason, Councillor, City of Salmon Arm
— image credit: Observer file photo

Municipal building stats continue to indicate an upswing in residential development.

By the end of June, the city had issued permits for the construction of 21 new single family dwellings to the tune of $6,625,837. This already exceeds the value of the 21 single-family dwellings constructed in 2013. Permits for multiple family dwellings (apartments, townhouses, etc.) have also exceeded last year’s numbers. As of June, permits have been issued covering 35 units total with a value of $3,270,000. Only two units went up last year, worth $400,000.

Reviewing June’s stats, Coun. Chad Eliason said the city is also seeing significant commercial growth this year, including three new projects valued at $6,350,000.

“Overall, it looks like close to $10 million right now in new housing and residential housing, so that’s pretty important for our area,” Eliason commented. “That’s a lot of good jobs that support it.”

Eliason said it looks as though the city will have one of its best years since 2007/08 – approaching the 2003/04 totals for building permit values of $53,000 and $66,300.

“That was the start of the last economic upturn, for our housing market at least, so good to see,” he said.

 

 

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