Condo construction keeps builders busy in Richmond
Condominium construction continues to keep builders busy in Richmond, as the value of building permits this year is outpacing figures from 2011.
In the first six months of 2012, Richmond City Hall issued 735 building permits with a construction value of $265.2 million—44 per cent more than the same period the previous year.
The numbers were boosted by a big month in May, when developers—led by Canada Sunrise Developments (Richmond) Ltd. for its multi-tower Quintet project in City Centre—lined up for 132 building permits worth $143.5 million.
Last month, the city issued a total of 154 building permits worth $24.1 million. Setting the pace were builders of single-family dwellings and a $1.4-million renovation to Kwantlen Polytechnic University's Richmond campus.
Building permits for required for new construction, change of use, additions or alterations to structures.