Cranbrook’s total building permit value fell in 2021, but residential building permits were up.
Throughout the year, the city issued a building permit with a total value of $60.79 million. In 2020, $93.21 million was invested in the community.
According to city officials, several major projects impacted building permit values in 2020, including the Broadstreet development on Innes Avenue and additional student residences at the College of the Rockies.
“Overall, the trend continues to increase, showing that there is continued interest in development and investment in Cranbrook,” said Mayor Lee Pratt. “As a Board, in partnership with the administration, we have worked hard to prepare for growth and investment, and this confirms to me that what we are doing is having a positive impact.
The city said the total value fell in 2021 as fewer major projects were launched throughout the year.
One area where Cranbrook saw some growth in construction value was in residential permits.
According to city officials, the value has increased significantly, from $6.97 million in 2020 to $9.89 million in 2021. A residential building permit is required for projects such as building new homes single family homes, additions, decks, garages, mobile homes and woodstove installations.
The Town of Cranbrook said a number of applications have been sent in for new projects that are expected to start sometime in 2022. Staff added that the projects have the potential to deliver substantial building values to the town.