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VAIL, Colorado — The slowdown in construction activity continued during the third quarter of 2009 according to statistics compiled by the town of Vail Community Development Department. The slowdown has been underway since the third quarter of 2008, following five consecutive years of record-breaking activity.
The town issued 438 building permits worth $30.2 million in July, August and September. That compares with 369 permits worth $29.8 million issued during the same period last year. Year to date, 815 permits totaling $51.3 million have been issued this year compared with 886 permits valued at $130.3 million for the same period in 2008, a 61 percent decrease.
Building is occurring on a much smaller scale than in previous years with property owners and contractors focusing on home improvement projects such as re-roofs, window replacements and interior remodels. Community Development Director George Ruther says.
During the first half of 2008, projects were considerably larger and included Four Seasons, Ritz-Carlton Residences, Solaris, Landmark and Lion Square Lodge, according to Ruther.
Building fee collections totaled $769,807 for the third quarter this year, compared to $730,905 a year ago. Year to date, the collections are $1.64 million in 2009, compared to $2.6 million in 2008, a 37 percent decrease.
The number of building inspections during the third quarter declined from a year ago with 982 inspections logged this year compared to 1,546 inspections over the same time period a year ago. Year to date, there have been 2,174 inspections in 2009 compared with 4,033 in 2008, a decrease of 46 percent.
Building fees account for 4.4 percent of the town's budgeted revenues, estimated at $1.3 million for 2009. The 2010 budget estimates building fee collections of $673,250, based on development activity patterns in the years prior to Vail's record development.
The highest year for construction in Vail was set in 2007 with $496 million in permit valuations. In 2008, the department processed 1,180 building permits, exceeding $308 million in valuation, representing the third highest year for construction. The second highest year occurred in 2006, with 1,136 permits and a valuation exceeding $355 million.
For details on the development activity, contact Ruther at 970-479-2145.
The town issued 438 building permits worth $30.2 million in July, August and September. That compares with 369 permits worth $29.8 million issued during the same period last year. Year to date, 815 permits totaling $51.3 million have been issued this year compared with 886 permits valued at $130.3 million for the same period in 2008, a 61 percent decrease.
Building is occurring on a much smaller scale than in previous years with property owners and contractors focusing on home improvement projects such as re-roofs, window replacements and interior remodels. Community Development Director George Ruther says.
During the first half of 2008, projects were considerably larger and included Four Seasons, Ritz-Carlton Residences, Solaris, Landmark and Lion Square Lodge, according to Ruther.
Building fee collections totaled $769,807 for the third quarter this year, compared to $730,905 a year ago. Year to date, the collections are $1.64 million in 2009, compared to $2.6 million in 2008, a 37 percent decrease.
The number of building inspections during the third quarter declined from a year ago with 982 inspections logged this year compared to 1,546 inspections over the same time period a year ago. Year to date, there have been 2,174 inspections in 2009 compared with 4,033 in 2008, a decrease of 46 percent.
Building fees account for 4.4 percent of the town's budgeted revenues, estimated at $1.3 million for 2009. The 2010 budget estimates building fee collections of $673,250, based on development activity patterns in the years prior to Vail's record development.
The highest year for construction in Vail was set in 2007 with $496 million in permit valuations. In 2008, the department processed 1,180 building permits, exceeding $308 million in valuation, representing the third highest year for construction. The second highest year occurred in 2006, with 1,136 permits and a valuation exceeding $355 million.
For details on the development activity, contact Ruther at 970-479-2145.
