Value of building projects nearly equal to all of 2016

The value of building permits in Olds so far this year is already almost as high as it was at the end of 2016, thanks primarily to a permit for a $4.5- million condo project in the former Olds High School track and field area and three permit applications from medical marijuana producer Sundial Growers.

That's the assessment of development officer Carey Keleman.

Keleman made those observations as she presented building permit statistics for the Town of Olds during the latest Municipal Planning Commission (MPC) hearing.

"We had a good number statistically-wise with building permits for the month of July," she told commissioners.

She said the permit for the Chinook Estates condo in the former Olds High School track and field area, along with three building permits for Sundial Growers totalling $3.5 million, helped spur the total value of building permits in July to $8,022,500.

That's more than double the total for July 2016, when the figure was $3,850,216.

So far this year, the town has issued building permits for projects worth a total of $13,798,072. The total value of building permits issued for all of 2016 was $13,979,863.

"In regards to where we stand in the year, we are almost exactly ñ pretty close ñ to where we were for last year's total, so we're doing fairly well for the year," Keleman said.

So far, the town also seems to be on pace to issue the same number of building permits this year as it did last year ñ if not perhaps more. To the end of July, the town had issued 53 building permits. By the end of last year, it had issued 105.

Keleman pointed out that at this time last year, the town had only processed six applications for detached dwelling permits. As of the end of July this year, it had already processed nine.

"So considering, we're doing fairly well for the year," she said, noting for the entire month of July, the town did not receive any other detached dwelling or duplex permits.

Mayor Judy Dahl said the latest building statistics show "a nice balance" between permits in the residential, commercial, industrial and institutional categories.

As of the end of July, the value of building permits for single-detached homes totalled $2.8 million; those for duplexes, $450,000; those for multi-unit homes, $4.5 million.

Permits issued in the commercial category totalled $588,500, those in the industrial category $3,648,000 and those in the institutional category $1,229,4472.

"It's really positive to see the 2017 building permit stats pulling in over $8 million through multi-unit and industrial halfway through the year," Dahl said.

"It just goes to show you that the Town of Olds has a nice balance when it comes to responsible growth and our building ñ nice to know that the residential (sector) doesn't have to pick up all the slack."

"As a citizen who pays taxes and an owner of a home myself, I go, ëthis is really nice to be able to live in a community and see a nice balance of building permit stats to help me out as a taxpayer, so that levels out your taxes.' I like that ñ it's really good," she said.