Richmond building activity valued at $1 billion in 2015
08 January 2016
Building activity in the City of Richmond was at an all-time high in 2015, verging on $1 billion dollars.
The total construction value of permits issued during the year was $997.8 million, more than double 2014’s total of $482 million. The previous high for a single year was $811.8 million in 2010.
Multi-family residential construction continued to lead the way in Richmond. In 2015, there were 107 multi-family permits issued, creating a total of 2,209 new units. By comparison, 49 multi-family permits for a total of 1,215 new units were issued in 2014.
In 2015, there were a total of 1703 building permits issued covering all building types, as to 1,442 permits issued in 2014.
In addition, there were 497 commercial building permits issued in 2015, compared to 434 issued in 2014.
Single family residential construction remained steady with 473 permits issued for new single family home construction in 2015, compared to 392 in 2014.