Despite a strong start to the year, construction in Penticton in 2021 won’t eclipse the boom years of 2016 to 2018.
By the end of November, there were 872 permits issued for 2021, up from the 673 issued in 2020, the 679 in 2019 and the 743 in 2016 but still below the 878 of 2018 and 1,014 in 2017.
The city’s building report for November is still a promising sign, as the month’s numbers are up with the most permits for the month since 2017, even if the building value of those permits was a couple million lower.
November saw 73 permits issued, with 11 new residential unites as a result, worth $12.3 million for 2021, compared to 82 permits worth $15,150,689 and 63 residential units created in 2017.
For the year as a whole, 2021 has seen $165 million worth of building permits issued, keeping the city on track for its fourth biggest year of construction.
By this time of year, 2019 had seen $177 million, 2016 had $190 million and 2017 had the record of $192 million.
In a housing crunch, construction in 2021 has seen many new units set to be built, with 440 units of mostly multi-family developments.
Only 2018’s 476 units and 2017’s 453 units outperformed 2021 when it comes to housing in the community.
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