City approves $34M in permits
Nearly one quarter of all residential
Nearly $34 million worth of building permits for multifamily housing were approved in September by the City of Calgary.
It accounted for nearly one-quarter of all residential permits handed out during the month by the city’s development and building approvals department.
Residential permits are granted for new construction, as well as renovations and additions.
The lion’s share of the value of new multi-family housing permits — about $20 million — was for four buildings in the Treo Beacon Heights development, which is being put to- gether by Intergulf-Cidex Group of Companies.
In addition, Ginger Park by Streetside Development Corp. had permits approved for five new buildings in its westside townhouse community. Overall, though, residential values were down 22 per cent to $138 million in September copared with the same month a year ago.
In terms of building permits for single-family housing, 231 were approved at a total value of $68.7 million, down substantially from 445 permits a year ago at a value of almost $109 million.
Non-residential permit values were down seven per cent to $93 million during September, says David Watson, general manager of planning, development and assessment.
Ginger Park by Streetside Development Corp. had permits approved for five new buildings in its westside townhouse community.