Quote:
Originally Posted by Dmajackson
Building Permit #169342 issued on April 2nd, 2019 for 120 residential units at 7037 Mumford Road. Declared value is $2.2 million.
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Interesting. $2.2M? Not $22M?
Builders have an incentive to undervalue their construction to avoid fees. I think $2.2M takes the cake for what I've seen so far.
In the Canada thread people tend to post building permit numbers and use them as an indicator of construction volume and growth. In the Vancouver permits I saw fairly run of the mill houses valued in the single digit millions for construction. I'm sure they have higher construction costs per square foot, but they're not 100x more.