Both the number and value of building permits issued in Olds last month were up significantly over July last year.
Sixteen building permits were issued for projects worth a total of $3,850,216, compared to 12 permits for work estimated to be worth a total of $1,501,000 during July, 2015.
Those stats are spurred almost entirely by a surge in commercial and industrial permits (along with one industrial permit). However, no permits were issued for single-detached, duplexes or multi-unit residential housing.
During the first seven months of this year, a total of 74 building permits were issued for projects worth a combined $10,325,663. From January through July 2015, 72 permits were issued for projects worth a total of $9,816,468.
Those stats were revealed during the monthly meeting of the Municipal Planning Commission Aug. 18.
A couple of commissioners said while they would have liked to have seen some residential building permits issued, they're happy to see the surge in commercial, industrial and institutional building permits because it shows faith by investors in the future of the community.
In July 2015, no permits were issued for commercial, industrial or institutional projects but four permits were issued for single-detached homes worth a total of $1,385,000.
Commercial permits issued last month include four to Forty Six Square Ltd., owner of the convenience store/gas bar/car wash development planned for the corner of highways 27 and 2A.
The estimated value of the project, combining all those permits, is $1,895,500.
Development of the new dental office along Highway 27, just west of Cam Clark Ford, is estimated to cost $712,980.
Tenant improvements to the interior of a convenience store, under construction on the old Cam Clark Ford lot along Highway 27 near 57 Avenue are estimated to be worth $150,000.
Two renovation projects at Olds College are collectively estimated to cost $396,000.
“July 2016 shows a huge bounce forward in our commercial and institutional development,” town development officer Carey Keleman said.
Keleman noted that as of the end of July this year, the town had issued a total of six residential building permits, all of which were for duplexes – none for single-family or multi-unit housing.
By the end of July last year, the town had issued 26 building permits, all for single-family homes.
“But making up for it is our commercial and institutional development,” she said.
Commissioner Mary Anne Harper, a representative of town council, agreed with that assessment.
“I believe that the increase in 2016 for the commercial/industrial building permits bodes very well for the town of Olds because we are certainly looking towards a higher assessment for commercial properties, non-residential,” Harper said.
“So I think that's really good news for the town of Olds, that we have that much value in building permits as compared to the previous year,” she added.
“I recognize that single-detached housing (stats are) down but we really do want to see an increase in the total overall non-residential assessment for our community.”
“I'd be in full agreement with that,” MPC chair Don Dwyer said. “I think it's also a boost of confidence in that these are long-term investments; people see a bright future. So those (are) definitely positive.”
"I think that's really good news for the town of Olds, that we have that much value in building permits as compared to the previous year."MARY ANNE HARPERMUNICIPAL PLANNING COMMISSIONER AND TOWN COUNCILLOR
