Building permit values continue to rise
Building permit values for the month of September were over $43.9 million, a 12 per cent increase from the same month last year. The year-to-date value has also pulled ahead of the 2016 total, with over $471 million worth of permits issued so far in 2017.
“Growth and development is vital to the economic health and vitality of our City,” said Mayor Michael Fougere. “I am very pleased that we continue to see a wide variety of building projects taking place throughout the city, including several significant investments in the downtown.”
Permits issued in September for projects over $1 million include three downtown projects—a building permit valued at $14.2 million and two office alteration permits valued at $7.2 million and $1.2 million. As well, two permits valued at $2.0 million each were issued to complete the King Edwards apartment complex.
A building permit is required to construct, demolish, build an addition or renovate a building in Regina. The City issues the permit and reviews plans to ensure they comply with all current building codes, bylaws and other applicable regulations. The City’s Building Permit Report is a record of all permits issued during a period of time for residential, industrial and commercial construction in Regina.
On October 1, the City introduced a new Residential Permit Fee Calculation Form to the building permit application process. While the rate for residential permits remains unchanged, the form introduces a standard valuation for smaller residential projects that is based on square footage and average construction costs. This new process ensures a fair and equitable approach to calculating value of construction to determine permit fees.