Construction & Development
| Building Permit Value by Category - 2000 to 2006 | |||||||
|---|---|---|---|---|---|---|---|
| 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | |
| SFD | $7 .3 M | $3.4M | $8.7M | $17M | 16M | 20M | 14 M |
| Residential [Alterations] | $658,618 | $460,750 | $642,176 | $467,817 | $821,631 | 850,000 | 1.4 M |
| Multi Family | $0 | $0 | $0 | $507,480 | $3.2M | $1.5M | $16 M |
| Commercial | $1.9 M | $1.9M | $2.9M | $10 M | $1.0 | $19 M | 11.7 M |
| Industrial | $0 | $8,500 | $23,000 | $550,623 | $809,000 | $95,000 | $0 |
| Institutional | $6.1M | $3. 9M | $176 500 | $1.1M | $6.4 | $2 M | 491,000 |
Single family homes are the most dominant form of housing in the residential sector, town homes and multifamily projects are increasing as the population ages, more retirees are attracted to Parksville and the price of single family homes increases. This is reflected in the jump in 2006 to $16 million in multi-family construction starts.
Renovation and repairs are another sector of the local construction industry that remains active as almost 50% of the homes in Parksville are over 20 years old.
As the area continues to grow, opportunities for new development will continue throughout Parksville. The success of the 410 unit Craig Bay Estates development and similar projects have proven that Parksville is a desirable location. The Beach Club Resort a quality residential shared ownership project is under construction on the beach in downtown Parksville www.parksvillebeachclub.com
A second beach resort has received development permit status and is planned for the adjacent property by another developer. These projects will be in excess of $30 million dollars upon completion.
As of March 2007 well over $100 million dollar of new applications are on the books.