Building permits down 16 percent through first six months

From staff reports

New residential construction in Sioux Falls is ahead of last year, but it’s not enough to make up for a decrease in commercial activity.

Through the first half of the year, building permits totaled $340.3 million, a significant drop from the $407.6 million in valuation that was issued through June 2016. It’s also down from $376.1 million in the first half of 2015.

New residential construction totaled $123.5 million, up from $102.5 million in 2016. That accounts for 429 single-family houses, which is 38 more than one year ago.

New commercial construction showed the steepest decline at $112.8 million, compared with $195.9 million a year ago.

Some of the drop likely comes from a decrease in apartment projects. So far this year, the city has issued permits for 464 units, compared with 1,207 units a year ago.

Still, apartments account for four out of the five highest-value projects this year. Here are the top five:

  • Dow Rummel Village addition, $24.3 million.
  • City of Sioux Falls administration building, $18.5 million.
  • Meadows at Graystone apartments, $17 million.
  • South Pointe Townhomes, $14.2 million.
  • Dublin Square Townhomes, $14.2 million.

An apartment project also was the largest permit issued in June at $2.8 million for the Copper Pass Apartments at 3630 S. Sparta Ave. in southeast Sioux Falls.

Permits for several large projects are expected to be issued yet this year, including the first phase of the Avera on Louise campus and the new Win Chill distribution center.

 

Building permits down 16 percent through first six months

New residential construction in Sioux Falls is ahead of last year, but it’s not enough to make up for a decrease in commercial activity.

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