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The Construction Industry Research Board reports that the estimated value of building permits for non-residential projects — commercial development, industrial sites and schools — totaled nearly $1.3 billion this year so far.
While that’s an average building pace for the past decade, it’s well below the amount of construction seen during the building boom of the past two years. Details …
- Building permit values are down 29% from last year and 39% from the building peak experienced in 2006.
- According to the research board, local governments issued nearly $2.1 billion worth of permits in the first 10 months of 2006 and almost $1.8 billion worth in through October of 2007.
- The largest decline occurred in the hotel/motel sector, which saw permits fall by 77%, research board figures show.
- The next biggest percentage drop was a 69% decrease in industrial construction, followed by a 59% decrease in retail development.
- Overall, the research board estimates the total value of residential building permits at $928 million, down 42% from last year.
The table below shows a breakdown of non-residential building permits issued during the first 10 months of each year:
| Year | Cmml | Indus | Other | Alts
Adds |
Total |
|---|---|---|---|---|---|
| 1999 | $646 | $109 | $95 | $495 | $1,345 |
| 2000 | $777 | $75 | $105 | $569 | $1,526 |
| 2001 | $516 | $89 | $148 | $460 | $1,213 |
| 2002 | $391 | $61 | $99 | $487 | $1,038 |
| 2003 | $176 | $66 | $161 | $468 | $871 |
| 2004 | $286 | $24 | $172 | $481 | $964 |
| 2005 | $443 | $25 | $195 | $543 | $1,206 |
| 2006 | $1,137 | $66 | $246 | $608 | $2,056 |
| 2007 | $831 | $46 | $250 | $646 | $1,773 |
| 2008 | $389 | $14 | $169 | $691 | $1,262 |
Source: Construction Industry Research Board; Cmml=commercial; Indus=industrial; Alts/Adds=alterations & additions
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