Residential building permits up 63% in 2012
- Details
- Published on Monday, 18 February 2013 16:50
- Written by Paul Gordon
For the first time in five years, or since the recession started, the number of residential building permits in the city of Peoria surpassed 200 in 2012, according to the Peoria City Manager's office.
There were 212 residential building permits issued last year worth a total valuation of $52.2 million. That was a 63 percent increase over 2011, the city Issues report released by City Manager Patrick Urich said.
The permits boosted city coffers by $315,298, the report said.
The report showed there were 39 commercial permits issued in 2012, up from 30 issued the previous year.
The report also showed that in the last five years, the value of all buildings permits issued — including residential, commercial, additions and repairs and mechanical permits — topped $1 billion. That was from a total of 17,153 permits, which brought in more than $5.1 million in fees to the city.
Overall in 2012, the number of permits was down slightly, from 3,380 in 2011 to 3,368, largely because of a drop in the number of permits issued for residential additions and repairs, the city report showed.
The last time the number of permits and valuation approached last year's totals was in 2008, just before the recession began.
That year there were 241 residential permits, with a valuation of $59.4 million, issued. Also, there were 32 new commercial permits with a valuation topping $102 million issued in 2008.
Overall that year, 4,193 permits were issued with a valuation of nearly $300 million.
Peorai Mayor Jim Ardis said the numbers are good news in that the show the local economy is continuing to recover.
"I think this report is a positive sign that we are truly starting to come out of the recession. The increase (63 percent) seems pretty dramatic but we have to remember the market had been so stagnant. Still, I was pretty confident there was some pent-up demand out there and I think the increase in building permits and the positive reports about existing home sales show that to be the case," Ardis said.
While he didn't have specific numbers to share, Ardis said the first six weeks of 2013 are ahead of last year's pace, as well. "The mild winter we've been having so far this year probably helps out a bit but I think it's further sign the recovery is continuing," he said.
Ardis said the Peoria area has been fortunate to have maintained a healthier-than-most housing market throughout the recession of the last few years. "There is still some uncertainty out there, but I think we are seeing consumer confidence turning around," he said.
