Two 44-unit apartment buildings going up on Summit Drive this month are boosting the City’s housing construction numbers for 2013.
Chief building inspector Kundan Bubbar said Friday the two buildings are valued at $4 million each, pushing the residential total to $82.1 million so far this year compared with $67.1 million at this time last year.
The number of single- and multi-family units is up along with the construction value, with 475 units going in the ground so far this year compared with 316 last year.
Bubbar said multi-family is particularly on the rise this year, but even single-family homes are outnumbering those built in 2012 at 171 to 155.
Commercial construction isn’t as strong as it was last year, at $139.6 million for the first 10 months of this year compared with $156.8 million for the same period in 2012.
Bubbar noted, however, that $30 million of last year’s total came from one project: Telus’s data centre.
And next year, the Royal Inland Hospital clinical services building is expected to start taking shape, which will boost institutional/commercial numbers for 2014.
Bubbar said the ebb and flow of commercial versus residential construction is one he has watched for two decades.
“This is the trend. I’ve been watching for the last 20 years. We have two or three good commercial years, then residential. They alternate,” he said.
“Compared to the rest of the province or country, we’re doing well even for commercial.”