Significant increase in Key City construction
The City of Cranbrook has experienced “a significant increase” in construction over last year at this time, reported chief administrative officer David Kim Sept. 17.
“We are on a growth spurt three years in a row. This year is quite significant,” Kim told city council.
“The second quarter of 2018 saw a total construction value of $16.02 million as compared to $8.06 million for the second quarter of 2017. The second quarter of 2018 saw six new housing starts and three manufactured/mobile home foundations as compared to nine new housing starts and three manufactured/mobile home foundation for the second quarter of 2017. A total of 86 building permits were issued in the second quarter of 2018 as compared to 95 for the same period in 2017,” Kim outlined.
“Year-to-date construction costs for 2018 are $30.22 million as compared to $9.62 million to the end of June 2017. That’s about a 233% year-over-year increase,” he said.
Additionally, as of June 30, 2018, a total of 133 permits have been issued, compared to 125 for the same period in 2017, Kim reported to council.
“This is unprecedented,” stated Mayor Lee Pratt, adding he’s been speaking to developers “and they are taking notice of it. Cranbrook is being seen as a growing community.”
Coun. Norma Blissett pointed at a “substantial” increase in multi-family housing construction, with $13,850,000 so far this year compared to $80,000 in 2017, and noted “it is a positive.”