(Source: CBC News)

The value of permit applications for new buildings in Calgary more than doubled over the same time last year, which some say signals an improving economy.

Building two wings of the trades and technology complex at SAIT for $170.8 million and the new $117.6-million Bow Valley College south campus make up a big chunk of the spike in permit values.

Permit applications this October came in at an estimated $532 million in construction value, up from $248 million in October 2008.

“What it means to the city, it’s an indication that there’s a confidence returning to investment,” Stan Schwartzenberger, director of development and building approvals for the city, said on Monday.

Read the full article “Construction statistics encouraging for Calgary” in the CBC News (November 9, 2009).

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