OLDS — In 2025, Olds could see triple the 30 or so housing starts expected this year, chief administrative officer Brent Williams says.
“This is based on the several area structure plan (ASP) and Land Use Bylaw (LUB) applications we had come forward in 2023 and others that are coming forward in 2024,” Williams wrote in an email.
“For the first time in several years, we have a variety of interest across the housing spectrum, including higher density apartments, duplexes, fourplexes, and the traditional single detached builds as well.”
Williams said while the housing stat cited most often is the number of housing starts, “it is equally important to pursue diversity in housing types, as Olds’ local economy requires houses for families, seniors, students, immigrants, renters, and first-time home buyers, to name a few."
“Although the Town (of Olds) does not develop land or build houses, we try to be as accommodating and supportive as possible to encourage that investment by the private sector, especially in current economic conditions where trades labour is scarce, building materials expensive, and interest rates high. The heightened interest in residential development in Olds is a positive sign that this approach is working," he added.
“Housing development seems to be very popular as a concept. Still waiting on that developer to be the first pull the trigger at a large scale,” Williams said in a report to town council.
The number building permits issued by the municipality and the total value of projects planned rose slightly over 2022 figures.
According to the municipality's 2023 statistics, 109 building permits were issued for projects worth a total of $15.16 million.
That’s up over 2022 when 106 permits were issued for projects worth a total of $14.84 million.
Last year, 13 permits were issued for detached homes worth a total of $5.96 million. In 2022, 12 permits were issued for homes worth a total of $4.49 million.
Last year, 12 permits were issued for duplexes worth a total of $2.74 million. In 2022, 10 permits were issued for duplexes worth a total of $2.55 million.
In 2023 one permit was issued for a two-unit complex worth $130,000 under the multi-unit residential category. No such permits were included in 2022 stats.
Last year, 20 permits were issued for commercial projects worth a total of $2.97 million. Two permits were issued for industrial projects worth a total of $1.71 million and four permits were issued for projects in the institutional category worth $153,000.
In 2022, 17 permits were issued for commercial projects worth a total of $2.81 million. Seven were issued for industrial projects worth $1.15 million and four permits were issued for projects in the institutional category worth $2.42 million.
