Construction in Vail still slowing
Vail, CO Colorado
VAIL, Colorado ” Construction activity in Vail, Colorado declined during the first quarter of 2009 compared to development activity for the first three months in 2008, town’s Community Development Department says.
The figures show a continuation of the construction slowdown experienced during the fourth quarter of 2008 following five consecutive years of record-breaking activity.
The town issued 124 building permits during the first quarter of 2009, or 20 permits fewer than the same period in 2008. The value of the those permits totaled $4.7 million compared to $19.8 million a year ago. This resulted in a 76 percent drop in building permit fees paid to the town. Some $130,162 were collected in the first quarter of 2009, compared to $428,035 in 2008.
Development review applications are another important economic indicator. During the first quarter of 2009, the Design Review Board saw 68 applications, compared to 83 the year before, while the Planning and Environmental Commission reviewed 9 applications in 2009, compared with 24 applications during the first three months of 2008.–
The figures indicate a trend toward remodels and other smaller projects that are more indicative of Vail’s growth pattern prior to the record redevelopment years, Community Development Director George Ruther says.
Ruther predicts the remainder of 2009 will track more closely with 2001-02 development figures when most construction activity in the town consisted of smaller, residential additions and remodel or maintenance projects.-
For more information, contact Ruther at 970-479-2145.