"We're moving from being largely new single family dwellings to modifications of existing single family dwellings. We're seeing an increase of activity on remodels and additions," he said.
Over the past seven years there has been a dip and subsequent climb of building permits sold in town. The highest level in the past seven years was in 2000-01 when 85 new residential permits were sold. The current year is on track to be the lowest of the seven, with only 24 permits estimated.
Lake said there are several factors involved. The economy has an effect, as does the housing market. Build-out is also becoming more of a factor, as the number of available lots in town continues to dwindle.
"There's a certain number of undeveloped sites, but how they develop is a big question. They don't always go forward as anticipated," he explained.
Commercial development is also expected to show some increases in the year ahead. "I expect to see a jump in commercial permits this year as we bring the Danville Hotel project online and other active projects as well," said Lake.
At this point, development revenues remain relatively stable in Danville since as one area slumps, another shows an increase. "So far this year our revenue projections and budget vs. actual is on course. Our expenditures are on target as well," Lake said. "We're where we want to be. Towards the end of the year we'll see what happens but for now we're doing OK."
This story contains 302 words.
If you are a paid subscriber, check to make sure you have logged in. Otherwise our system cannot recognize you as having full free access to our site.
If you are a paid print subscriber and haven't yet set up an online account, click here to get your online account activated.