RAPID CITY, SD (KOTA) — Rapid City continues its upward trend in recent building permit valuations, breaking a record for the value of such permits set between January and August of last year.
Last year, the city issued 3,111 building permits with a total value of more than $245.82 million. Although the number of permits issued this year is down from last year, only 1,907 were issued during the same period, the total value of permits stands at $295.87 million.
Rapid City officials attribute this to larger and more expensive construction projects, such as larger apartment complexes and buildings for commercial use.
But the last two months have shown a slight decline in numbers, with the number of permits stabilizing.
“They’re pretty lukewarm, because we’re using the term ‘pedestrian’. We haven’t really knocked it out of the park. In fact, if you look at the numbers, they might take us back to a 2018 number, in that regarding this July and August activity,” Rapid City communications director Darrell Shoemaker said.
Currently, building permit applications have slowed, but Rapid City is still aiming for the $300-400 million threshold it wants to reach before the end of the year.
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