MINOT, N.D. (AP) - Building permit activity in Minot declined significantly in 2016, signaling an end to construction boom tied to post-flood and energy development.
City records show $71.5 million in permit activity last year was down nearly 56 percent from $161.2 million in permit activity in 2015, the Minot Daily News (https://bit.ly/2jbMdJd) reported.
Last year, commercial remodels and additions came to a combined total of $46.1 million in building permits. That compares to 2015’s combined total of $45 million.
The slight rise in commercial activity came from projects such as the expansion at the Dakota Square Mall.
Overall activity dropped for residential and new commercial construction.
In 2016, there 62 new single family homes built, which was down from 96 homes built in 2015. New residential building permits came to a total of $7.4 million, which compared with $29.4 million in 2015. Commercial construction permits totaled to $12 million, comparing to the total in 2015 of nearly $81 million.
Matt Geinert, owner of Future Builders in Minot, said he anticipates a steady 2017.
“I think 2017 is going to be very similar to 2016. I don’t think we are going to see a sharp decrease,” he said. “We are projecting that it’s going to be a little bit better.”
He said the increased oil activity, a new school in Minot and a proposed hospital will contribute to housing growth.
“We have to be creative as we move forward,” Geinert said.
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Information from: Minot Daily News, https://www.minotdailynews.com
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