Sunday, January 20, 2013

W.D.M. building permit valuation doubles

West Des Moines had one of its strongest construction years ever in 2012, according to new city building permit information.

The property value of permits issued last year topped $310.59 million, more than double the $142.3 million issued in 2011.

It was the city’s third-highest year on record, development and inspection manager Chris Shires said.

The highest total was in 2008, when permits were issued for about $490 million in valuation.

“This shows there’s a lot of optimism and confidence in what’s going on in West Des Moines,” Shires said.

Strong growth was seen across all sectors, from residential and commercial to tax-exempt entities such as schools and churches.

Residential permits totaled $152.5 million and accounted for nearly half of the overall valuation.

Permits were issued for 181 new single-family homes and 107 townhomes, but much of the new residential construction came in the form of apartments and condominiums.

West Des Moines added 420 apartment units and 96 condominiums in 2012.

Creighton Cox, executive officer with the Home Builders Association of Greater Des Moines, said that mirrored activity across the metro as young adults and seniors alike look for new housing options.

“Multi-family has really driven the increase,” Cox said. “You’re seeing that where the jobs are is where the housing, at least the multi-family housing, is going.

“In West Des Moines, with Aviva, Wells Fargo and continuing commercial areas, those apartment units are necessary for workers,” Cox said.

On the commercial side, West Des Moines had 15 permits for new buildings that had a combined valuation of $59.4 million.

Tenant improvements accounted for another 149 permits and $35.3 million in valuation, a significant increase from years past, Shires said.

“I think what you’re seeing there is a lot of pent-up demand,” Shires said. “Businesses that were waiting are looking for retail space to build out; we’re seeing tenant remodels and companies expanding and filling out existing space.”

Tax-exempt entities, including hospitals, schools and nonprofit organizations, accounted for about approximately $60 million in valuation.

The West Des Moines school district, which completed work on several buildings, including Valley High School, Walnut Creek Campus and Stillwell Junior High School, accounted for a large portion of those permits, Shires said.

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