Two of Alberta's four largest cities are reporting significant jumps in new building activity for the first three quarters of 2011.
The value of building permits issued by the City of Calgary jumped 49 per cent for the first eight months of 2011, compared with same period last year.
Permits for the first eight months of 2011 totalled $3.09 billion. Even without a $600 million permit for a major airport terminal expansion, Calgary building activity is up roughly 20 per cent over last year, thanks to increases in both the residential and non-residential sectors.
In August alone the city approved nine multi-family projects for $124 million in new building activity. The biggest single project approved in the month was the Qualex-Landmark condominium tower at $28 million.
"This August residential activity was more than double the previous year," noted Stuart Dalgleish, acting general manager of planning, development and assessment for the city. "The apartment sector in particular shot up."
Things are also looking more encouraging to the north in Red Deer, where permit values for the first nine months of 2011 topped $131.5 million. That's up about 56 per cent from the same period last year.
Said Joyce Boon, the city's inspections and licensing manager: "September has been a busy month and I think these numbers tell us that business in Red Deer continues to grow and the Red Deerians are trusting that the economy may be experiencing some positive changes."
As in Calgary, Red Deer's residential and non-residential sectors have both experienced increases, though commercial building is up substantially more than residential construction in Red Deer.
from Western Investor November 2011
