MINOT, N.D. — The value of building permits saw a significant drop last year in Minot, where more attention was paid to remodeling than to new construction.
The city’s building permit report shows that Minot issued almost $44 million in permits in 2017, down from $71.5 million in 2016.
Pat Bailey, manager at Muus Lumber, told the Minot Daily News that he expects more of the same in 2018.
“I foresee more of a remodeling market this coming year than new construction,” Bailey said. He added that the trend may change if the oil economy picks up as some projections say.
Brenda Berntson, assistant manager at Minot Lumber & Hardware, said remodeling will be the focus this year. Berntson expects housing construction to occur at a modest pace.
“There’s a lot of product sitting out there yet. We don’t have the builders who are building specs,” Berntson said.
Proposed construction on a new medical complex could generate more commercial and residential activity in southwest Minot.
Minot’s new commercial activity totaled about $15 million last year, compared to $12 million in 2016. The majority of last year’s construction involved $12.5 million in industrial and manufacturing facility permits. A chemical warehouse in the northeast part of the city accounted for a large portion of the amount.
Last year, the city issued 101 commercial remodel and addition permits to builders, compared to 107 in 2016.
Information from: Minot Daily News, http://www.minotdailynews.com