Second Quarter Building Permits Statistics in This Week’s Around Town
Your Weekly Construction Briefing
This week’s issue includes the Building Permit statistics for the first half of 2023.
The year-to -date 2023 Building Permit statistics are showing a 3% decrease in the number of permits issued between the Comox Valley and Campbell River, from 460 in 2022 to 445 in 2023. The number of residential permits, including renovations, new builds and multi family have decreased by 23%, while commercial permits have increased by 13%.
Comparing Building Permits for the first half of 2023 and 2022, shows a 26% increase this year in residential values and a 47% decrease in commercial. The commercial decreases are due to a $36 million permit in 2022 for a Care Home project in Comox. Eliminating that permit shows an increase in commercial values by 43%.
From January to June, 174 residential permits in 2023 represent 840 units, compared to 226 permits for the same time period in 2022 representing 425 units. Residential permits in the first half of 2022 included 146 single family, 48 secondary suites and accessory dwelling units, 109 units in duplexes, triplexes and fourplexes, and 122 units in multi-family. Residential permits in the first half of 2023 include 84 single family, 58 secondary suites and accessory dwelling units, 35 units in duplexes, triplexes and fourplexes, and 663 units in multi-family.
Building Links is currently tracking an estimated $700 million in projects with over 3000 residential units and a mix of large institutional and commercial projects on the Central North Island, West Coast and Powell River.
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