Housing permits in Calgary rose 88% this February compared to the same time last year, giving residents and businesses a sure sign the economy is moving on up.
The city saw applications for 838 new homes, with the increase led by aparment applicants, which grew from 76% last February.
The estimated construction value of building permit applications in The City of Calgary for the month of February 2012 is a whopping $375 million.
“This is great news for the second month in terms of residential values. We are seeing significant growth this month in single family homes and apartment sectors,” says Stan Schwartzenberger, Director, Development and Building Approvals.
“For the month of February, we took in seven apartment applications for 351 new units compared to 85 new units in February 2011. We’ve also added 353 new single family units, an increase of 48 per cent from the same time last year,” adds Schwartzenberger.
“It’s a very pleasant surprise,” says Carol Oxtoby, president of the Canadian Home Builders’ Association-Calgary Region. “There are all kinds of indications that builder confidence is there – and I think that is coming from the consumer confidence.”
We’re certainly seeing a lot of exciting developments in Calgary, and we’re anticipating more great projects with this news!