Building permit numbers are looking a lot healthier these days in Alberta's Rocky Mountain paradise, but they're a little on the deceiving side.
The Town of Canmore approved building permits for over $32.1 million in new construction for the first two months of 2011, bringing the resort town to 83 per cent of its 2010 total and 96 per cent of its 2009 total.
But almost all of the 2011 permits is due to the long-awaited $29 million Multiplex project that will include everything from a new aquatic centre and public library to a climbing centre and multi-purpose space.
Construction on the project started in late March, and is scheduled to be complete in fall 2012.
As well, construction is also well underway on the long-delayed Canadian Tire store in Canmore. The Canadian Tire building will be a mixed-use project, and will include more affordable housing units.
The town has also granted a development permit renewal for a delayed 52-unit townhouse project in March in the Three Sisters neighborhood. While such renewals have been more common than new permits since the market crashed in 2008, this renewal was followed by a building permit application, signaling that another project in the $15 million range is likely on the way sooner rather than later.
Still, the town doesn't expect a big leap in permit numbers in 2011, said planner Alaric Fish. Canmore's building permit total hit a frenzied $220.6 million in 2007.
from Western Investor June 2011