Construction activity remains busy in Summerland, as 18 permits with a total construction value of $6,023,000 were issued in August.
This dollar value is higher than the same month in 2018, 2019 or 2020, but considerably lower than in 2021 when 16 permits were issued with a total construction value of $27,559,500. That month, a single building permit for the Oasis development on Lakeshore Drive was issued. This permit alone had a construction value of $23,582,000.
READ ALSO: Summerland issues 16 building permits in July
READ ALSO: Summerland building permits total more than $27M in August
From January to August, 2022, a total of 171 building permits have been issued in Summerland. This is higher than the number issued during the same time frame for the previous four years. The average for this time period is around 130 building permits.
The total construction value of building permits issued in Summerland from January to August is $39,760,000. This is higher than any previous year except 2021.
“The district is still on pace to be close to the total permit construction value for the year in 2022 from that experience in 2021, despite 2021 being a record year,” Brad Dollevoet, director of development services said in a report to Summerland council. “However, increasing interest rates are constraining access to project financing, and coupled with persistent high costs for materials and supply chain issues, some larger projects are finding difficulty in proceeding.”
In 2021, Summerland issued 203 building permits with a total construction value of $59,775,300.
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