Kelowna is lagging slightly in the building permit department for the first half of 2022 compared to 2021.
A staff report going to council Monday (Jul 25.) shows 4,494 permits were issued for the first six months of this year, compared to 5,121 for the same period last year. T
he total building permits value was $688-million for the first half of 2022, and $814-million for the first half of 2021. Last year, building permit values exceeded $1 billion for the first time. Permitting for all types of housing continued throughout the city, with a focus on the urban core.
READ MORE: $1B in building permits puts Kelowna on par with bigger cities
According to the report, development planning application volume remains extremely high despite initiatives to streamline processes. A transition back to normal, quick-paced approval timelines will be coming later in the year and into 2023.
Looking ahead, the report indicates higher interest rates, labor shortages, material cost increases, and availability will impact the city’s housing market and development approvals process in the months and years ahead, highlighting the importance of securing housing opportunities that are currently planned.
READ MORE: Kelowna councilor wants more creativity in new rental building designs
@GaryBarnes109
gary.barnes@kelownacapnews.com
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City Council City of Kelowna Construction Planning
