UpSnap Inc (CEENQ)

[energy_wave]

Alberta building permit value jumps...

Tuesday, July 7, 2009

The value of building permits in Alberta went up nearly 50 per cent over a month, according to Statistics Canada numbers released Tuesday.

The 48 per cent spike in value to $1.1 billion in May was fuelled by commercial permits for medical buildings in Calgary, according to the agency. Residential building permit values in the province actually decreased by seven per cent.

The value of building permits in Calgary jumped from $310 million to $626 million. There was only a marginal increase in Edmonton.

Dave Smith, a spokesman for the Calgary Construction Association, said the majority of the new construction projects in the city are government funded, suggesting that federal infrastructure cash meant to stimulate the economy is beginning to trickle down.

"Projects are coming on stream at a quicker rate than before and I think that is moving the economy well here in the construction sector," he said.

Smith said it is only a matter of time before the residential construction market in Calgary turns around as well.

Kevin Griffiths, the City of Calgary's chief building inspector, said every aspect of the construction industry is picking up.

"We are hopeful that that is what is happening. Again, we are seeing that indication in our permit applications, increases in basically every area, some moderate, some more noticeable," he said.

The value of building permits across the country passed the $5 billion mark for the first time since October of last year.

http://www.cbc.ca/canada/calgary/story/2009/07/07/calgary-alberta-construction-permits.html