Gravenhurst had a record year for local construction costs in 2017
A boost in Gravenhurst construction is a good sign for the community.
Director of Development Services Scott Lucas says 2017 was an average year for the number of building permits sold. But, he says many builders were buying more expensive permits.
Lucas says based on information gathered from the permits, the local construction costs came out to about $69 million, a record number for Gravenhurst.
According to Lucas, the big reason behind this spike was due to a lot of subdivision projects wrapping up in the community. This means while 2018 will likely be a good year for construction it won’t be as good as 2017.
Lucas says building permit prices are based on the cost of construction, so the town ended up with a surplus of over $260,000 from the revenue. Lucas says, under the provincial law, the town can only use this money to offset revenue losses on future building permit sales. Because of this, the money has been put into a reserve fund.