The Town of Sylvan Lake saw increased development activity in 2024.
This increase is due to a strong Alberta economy and favourable development conditions within Sylvan Lake, general manager of infrastructure and business services Kim Devlin said.
"The Town saw a significant increase in residential development, with a total of 363 new residential units being approved across all housing types, which is up from 110 in 2023."
These residential developments included two apartment buildings that will bring 174 residential units to the market and 20 new row house developments that will create 89 new units, Devlin said.
"Non-residential development totalled more than $9.9 million and included one industrial project, two commercial buildings, and a number of renovations."
These new developments help boost the Town's economic growth by fostering job creation, attracting new businesses and investors, and strengthening the success of existing local businesses, Devlin said.
"Residential developments not only draw new residents but also contribute to building a diverse and dynamic workforce within our community."
High building permit values often are indicators of investor confidence, a supportive development environment, and a strong economy.
"2025 is already off to a strong start and the Town is optimistic that it will continue to be a good year for development."
Each month building statistics are posted on the Town's website, www.sylvanlake.ca.