Cranbrook’s total building permit value dipped in 2021, but permits for residential construction were on the rise.
Throughout the year, the city issued a total building permit value of $60.79-million. In 2020, $93.21-million was invested in the community.
According to city officials, several major projects impacted building permit values in 2020, including the Broadstreet development on Innes Avenue and the additional student residence facilities at the College of the Rockies.
“Overall, the trend keeps moving upward which shows there is a continued interest in development and investment in Cranbrook,” said Mayor Lee Pratt. “As a Council, in partnership with administration, we have worked hard to set the table for growth and investment, and this confirms to me that what we’re doing is having a positive impact.”
The city said the total value dipped in 2021 because fewer large projects were started throughout the year.
One area where Cranbrook had some growth in construction value was in residential permits.
According to city officials, the value grew significantly, from $6.97-million in 2020 to $9.89-million in 2021. A residential building permit is needed for projects such as new single-family home construction, additions, decks, garages, mobile homes, and wood stove installations.
The City of Cranbrook said a number of queries have been sent in for new projects that are anticipated to start some time in 2022. Staff added that the projects have the potential to supply substantial building values to the city.