The estimated construction value of building permit applications last month in Calgary jumped to $534 million, an increase of 95 per cent from May 2011’s $273 million.
The city reported Friday that year-to-date building permits total $2.142 billion.
Year-to-date values are up 12 per cent compared with 2011 ($1.912 billion), up 26 per cent compared with the five-year average ($1.706 billion) and up 31 per cent compared with the 10-year average ($1.631 billion).
The city said the four most active sectors for May were single-family (new) residential at $147 million, commercial (new) at $96 million, apartment (new) at $87 million and commercial (improvement) at $62 million.
For the month there were 49 permits valued over $1 million, with seven of those at more than $10 million, including Evolution Phase 1 ($51 million, new apartment), Calgary Strata Building 2 ($35 million, new warehouse/office) and Oxford Airport Business Park Building E ($12 million, new office).
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