Friday, September 21, 2012

Idaho Falls residential building numbers show increase

A four-plex on John Adams Parkway, part of a 24-unit development started in the spring.
Going by numbers from the city of Idaho Falls Building Department, the market for new homes in Idaho Falls seems to be on the rebound.

Through the end of August, the city issued 91 permits for single family dwellings. This is the highest number since 2008, but still far below the 234 permits that were issued in the first eight months of 2007.

Based on a cost-per-square-foot calculation, the city issued permits for residential projects amounting to $6.93 million in residential value. Counting commercial projects, Idaho Falls issued permits for more than $73 million.

This is a number that can be swayed by one or two big projects, which has been the case this year. A permit for the $9.5 million Ethel Boyes Elementary project was issued Aug. 28. Add that to the Dora Erickson Elementary project and the new INL research center permits that were issued earlier this year and the numbers add up fast.