Vail construction activity down for quarter
Vail, CO Colorado
VAIL, Colorado – Third quarter construction activity was down in Vail compared to the same period a year ago; however, statistics released by the Community Development Department show the town continuing to outpace 2009 figures due to a strong second quarter.
Third quarter building valuation totaled $23 million during July, August and September this year compared to $30.2 million during the same period in 2009, a 23.8 percent decrease. Year-to-date valuations, however, have already exceeded the $59.9 million recorded in 2009. For the first nine months of 2010, the town has recorded $64 million in construction activity which includes second quarter figures of $34.6 million and $6.4 million during the first quarter, respectively. Vail’s record year for valuation was $497 million in 2007.
There were 399 building permits issued during the third quarter this year compared to 438 permits issued during the third quarter of 2009, a decrease of 8.9 percent. Community Development Director George Ruther says while the total number of permits issued has decreased from one year ago, the size and valuation of the projects this year is increasing. He says it’s a sign that property owners are starting to reinvest in their properties.
The department has received a total of 568 design review and planning applications for the first three quarters of 2010, up 20 percent from the 473 applications recorded a year ago. Ruther says development review applications are a leading indicator of the number of building permit applications expected in the future.
Ruther says the department is continuing to actively work on completing the inspection process for the Four Seasons Resort, which is expected to receive certificates of occupancy before the end of the month. For additional details, contact Ruther at 479-2145.- –