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Slow pace continues for housing, commercial space increasing
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by Steve Dills
Sylvan Lake News
Sylvan Lake’s residential growth has slowed appreciably while commercial development continues to evolve, according to monthly building statistics, released by the town last Friday.
Permits were issued for seven new homes in July, bringing the year’s tally to 44 — only about 26 per cent of the 169 new homes started in the first seven months of 2007.
But commercial development continued with permits issued for $1.6 million in new construction, in July. The largest was for a 7,500 square foot building in Ryders Square (valued at $1,006,155). Other commercial and industrial permits were issued for construction of a two bay warehouse building at 13 Industrial Drive, an embroidery shop ($360,000) at 14 Thevenaz Industrial Trail, tenant improvements for Lakeside EMS in the same multi-bay building on Thevenaz Industrial Trail, and tenant improvements at Sylvan Lake Value Drug Mart ($17,000) in Lakeland Plaza.
Four of the seven homes were in Hewlett Park, two were in Ryders Ridge and one was on Fieldstone Way. The values ranged from $150,000 to $347,070. The total value of permits for new homes was $1.95 million, about 39 per cent of the total value of new construction for the month — $5,000,275.
Other permits were issued for: 14 decks, three basement developments, three detached garages, and three accessory buildings (including one on Wilkinson Circle valued at $182,000).
Total value of permits issued so far in 2008 is $43.4 million, down about 25 per cent from the $57.9 million value in permits issued in the first seven months of 2007.
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