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Holiday Inn drives building permit value jump
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| Bulletin photo by Aaron Palmer — The new Holiday Inn Express, due to be completed this spring, contributed $5 million of the $6.7 million increase in building permit values in 2007. The motel, located on Highway 16 East on the White Buffalo property, has had many setbacks in its construction schedule. |
Rises from $12 to $19M
By Aaron Palmer
The valuation of all building projects permitted in Buffalo in 2007 jumped more than $6.7 million over 2006, a 55 percent rise, according to figures released last week by City Building Inspector Chris Spencer.
In 2007, buildings and improvements valued at $19,122,741 were built within the city, up from $12,358,248 in 2006 and up nearly five times from the 2003 valuation of $4,460,537.
Spencer said the majority of the increase in value was attributed to the Holiday Inn Express building.
“Nearly $5 million of it can be attributed to the Holiday Inn Express project. But even if you take that away, we were still up for the year,” he said.
Even without that project, the increase would still have been $1.8 million, a 14 percent increase.
Last year the city issued 271 permits and collected $122,926 in fees on these permits.
Of the 721, 49 were issued for new homes and 10 for commercial buildings. There were also nearly as many fence permits — 44 — as there were for new homes, according to Spencer’s figures. The balance of the permits were for remodeling, additions, heating/air conditioning or watering permits.
So far in 2008, the number of permits issued has slowed, Spencer said, but that is normal during the winter months. Just four permits have been filed so far this year.
He believes the number of permits issued will increase once the warmer weather sets in.
“New house permits are normal but other permits, we are down somewhat and that can be contributed to the cold. It always opens back up in March and indications are this will be just as good a year, if not better, than last year,” he said.
Spencer said there are some rumors of some large commercial projects which may happen this year, but he did emphasize they are just speculation at this point.
“There are some commercial rumors on the horizon that are out there that if they go that will add quite a bit to things,” he said.
The increase in permits and valuation in 2007 was significant even taking into account the city’s re-vamped of its permitting fee schedule, according to Spencer.
“We got rid of the inside remodeling permits. Even though we did, we were up considerably in fees and valuation,” he said.
Spencer said the increase shows that people are investing money in their properties.
“They are spending money on their houses. Heating, windows, doors-things that will save them money down the road. And that is definitely an indication that people are still willing to make an investment in their house,” said Spencer.
In 2007, buildings and improvements valued at $19,122,741 were built within the city, up from $12,358,248 in 2006 and up nearly five times from the 2003 valuation of $4,460,537.
Spencer said the majority of the increase in value was attributed to the Holiday Inn Express building.
“Nearly $5 million of it can be attributed to the Holiday Inn Express project. But even if you take that away, we were still up for the year,” he said.
Even without that project, the increase would still have been $1.8 million, a 14 percent increase.
Last year the city issued 271 permits and collected $122,926 in fees on these permits.
Of the 721, 49 were issued for new homes and 10 for commercial buildings. There were also nearly as many fence permits — 44 — as there were for new homes, according to Spencer’s figures. The balance of the permits were for remodeling, additions, heating/air conditioning or watering permits.
So far in 2008, the number of permits issued has slowed, Spencer said, but that is normal during the winter months. Just four permits have been filed so far this year.
He believes the number of permits issued will increase once the warmer weather sets in.
“New house permits are normal but other permits, we are down somewhat and that can be contributed to the cold. It always opens back up in March and indications are this will be just as good a year, if not better, than last year,” he said.
Spencer said there are some rumors of some large commercial projects which may happen this year, but he did emphasize they are just speculation at this point.
“There are some commercial rumors on the horizon that are out there that if they go that will add quite a bit to things,” he said.
The increase in permits and valuation in 2007 was significant even taking into account the city’s re-vamped of its permitting fee schedule, according to Spencer.
“We got rid of the inside remodeling permits. Even though we did, we were up considerably in fees and valuation,” he said.
Spencer said the increase shows that people are investing money in their properties.
“They are spending money on their houses. Heating, windows, doors-things that will save them money down the road. And that is definitely an indication that people are still willing to make an investment in their house,” said Spencer.
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| Tom’s Diner back in action |
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Not killing us wrote on Feb 26, 2008 3:46 PM: