Kelowna's $1-Billion Future
Here's a great indication of how busy the construction industry is in Kelowna.
The City is on track to approving $1-billion in construction projects for 2019.
According to Building and Permitting Manager Doug Patton, it's a record year for Kelowna..
"In the last 4 months we've exceeded $100 million construction value for each month and prior to this year, if we hit $100 million construction value for one month during the 12, we were doing well."
June hit a record all-time high with $125 million in construction projects approved.
Patton also stated that multi-family developments make up the majority of permits issued.
“At this point we're looking at a lot of multi-family; apartment buildings, 6-storey, low rise buildings. We've seen some slowdown in the single family dwellings but the multi family is really keeping things moving here,” said Patton
Since March, the City has given their stamp of approval for over $ 425-million dollars in construction value, which Patton believes is both a good and bad for the trades industry.
He said contractors have told him they are having difficulties staffing their projects, with some companies sourcing tradespeople out from other provinces, like Alberta.
“Their reliance on us getting permits out in a timely manner is helping them to keep their trades people busy so that they don’t lose those trades that they need to carry on construction.”
According to Patton, Kelowna's skyline will change significantly in the next 5 years, displaying a lot more high rises in the downtown core.