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New residential building permits fall slightly in SLO County

Seven single-family residences will comprise the Marsh Street Brownstones in downtown San Luis Obispo. The project, which broke ground in late August, is under construction.
Seven single-family residences will comprise the Marsh Street Brownstones in downtown San Luis Obispo. The project, which broke ground in late August, is under construction. dmiddlecamp@thetribunenews.com

The number of new residential building permits fell slightly in San Luis Obispo County for the first three months of this year, according to data from the Home Builders Association of the Central Coast.

A total of 247 residential building permits were issued in January, February and March, compared with 268 permits in those same months last year. Because of fluctuations in the building process from month to month, the number of permits issued are compared year-over-year.

The decrease in permits mainly reflected a decline in single-family units being built. In the first three months of the year, only 117 permits were issued, compared with 148 in the same months in 2015.

Although the overall number of residential permits fell, the number issued for multifamily units increased by 8.3 percent year-over-year, to 130 units. Multifamily housing includes duplexes, three- to four-unit structures and apartment-type structures with five or more housing units.

The estimated cost of construction for all residential building permits issued in San Luis Obispo County — also known as residential valuation — was about $81.1 million, compared with about $79.9 million in the year-earlier period. That represents a year-over-year increase of 1.4 percent.

The total valuation of all San Luis Obispo County building permits issued — residential and nonresidential (which includes commercial, industrial, alterations, additions and other) — was about $106 million for the first quarter in 2016, down 4.4 percent from about $110.9 million in the year-earlier period. Statewide, the total valuation of all building permits issued in the first quarter was about $13.2 billion, up 4.18 percent from the year-earlier quarter.

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