Through the end of July, Lakeville issued 208 residential building permits valued at $64.6 million. In the same time period in 2012, there had been 140 residential building permits issued with a value of $40.6 million.
Commercial and industrial permits are also up from the same period in 2012. As of the end of July there were $8.5 million in permits compared to $8.1 million in 2012.
According to the Builders Association of the Twin Cities, building permits and planned projects are at their highest level since 2007 and permits in the Twin Cities are up by 37% since the same time last year.
In the Twin Cities, 452 building permits were issued in May 2013 and year to date there have been 1,879. Minneapolis had the most number of unit permits with 183 in May. Blaine came in second with 93, Woodbury had 39, Lakeville 35 and Plymouth had 33.
Construction in the Twin Cities is continuing its upward trend with a 110% increase in new construction in April 2013! Inventory of existing homes for sale continued to fall another 4.5% putting inventory levels at a low not seen in over a decade! Building permits for single family homes in the Twin Cities were up 27%. With the low rental vacancy rates, less than 3%, permits for building apartments in Minneapolis were way up once again. Because of permits for apartment buildings, Minneapolis led the new construction permits in April with 408 units, Lakeville was second with 32 units, Chanhassen had 29 and Woodbury 24. Blaine had the most single family construction permits with 20. This information comes from the Minneapolis Area Association of Realtors and the Builders Association of the Twin Cities.
Other cities with a good number of building permits were Mendota Heights with 37, Eagan with 29, Rosemount with 23, Farmington with 21, Apple Valley with 13, Burnsville with 8 and Inver Grove Heights with 5.
In the Twin Cities Woodbury topped the building permit list for the first quarter of the year with 88, Prior Lake had 41 and Savage had 27.
The statistics are from the Builders Association of the Twin Cities.