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FRIDAY, JANUARY 9, 2015
New horizons
32 PAGES
Construction activity dips in Richmond Building permit values for 2014 drop, but residential high-rises continue to push pace by Matthew Hoekstra Staff Reporter
Matthew Hoekstra photo William Watt inside his East Richmond studio, where he creates paintings depicting B.C.’s landscapes, abstracts and a combination of the two. See Page 14.
The City of Richmond issued $482 million in building permits in 2014—a 29 per cent decline in value over the previous year. City hall granted developers 1,795 permits worth $481,872,669 last year, according to data compiled by The Richmond Review. That’s far less than the previous year’s total of $697 million, despite a similar number of total permits. Residential development led the way in 2014, from high-rise condominium buildings and low-rise woodframe apartments to townhouses and single-family homes—some of the seven-figure value. Most of the priciest projects are concentrated around the Richmond Olympic Oval in an old warehouse district being redeveloped into a high-density neighbourhood. In January, the city granted Onni a permit worth $22.9 million for a condo project on Cedarbridge Way, and Intracorp moved ahead with plans for a $28.4-million project on River Road. Amacon also advanced its oval area project in 2014 with $40.8 million in permits. Elsewhere in City Centre, Polygon won permits worth $38.7 million for its Alexandra Court project, which is being built across from the future Walmart mall. With a $29-million permit, Polygon also continued on a
2014 building permits •January: $62.9 million (132 permits) •February: $48.9 million (177) •March: $21.2 million (209) •April: $20.3 million (124) •May: $28.6 million (153) •June: $61.5 million (168) •July: $54.4 million (143) •August: $17.9 million (110) •September: $31.8 million (166) •October: $36.6 million (139) •November: $69.9 million (146) •December: $27.9 million (128)
major development across from Richmond Centre, where it’s building five towers with space for Richmond Kiwanis Senior Citizens Housing Society. At the south end of the city, Oris Development earned permits worth $13.1 million for a riverside apartment project, and at the north end Parc Riviera was granted a permit for another $7-million building for its apartment project. Major projects are also pushing permit values higher region-wide. According to the latest data compiled by the Vancouver Regional Construction Association, total building permit values were 12 per cent higher at $6.6 billion in the first 10 months of 2014, compared to $5.9 billion in the same period the year prior. A moderate gain in construction value is predicted for the year, the association said in a recent news release. Municipal governments require building permits for construction, change of use, additions or alterations to structures.
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