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Orange County's Building Permits Present Mixed Picture of Economy : REAL ESTATE

December 24, 1987|Michael Flagg, Times Staff Writer

Building permits for Orange County show a mixed picture as the end of the year approaches.

According to estimates by the Construction Industry Research Board, which tracks the numbers, permits issued for construction of single-family homes in the county will be down by 500 when all the figures are tallied at the end of this year, a drop from 9,800 permits in 1986 to 9,300 this year.

Multifamily units--including condominiums and apartments--will rise, from 15,100 to 16,200.

For commercial buildings, permits worth $160 million of factory and warehouse construction will be issued this year, down from $201 million last year. Also down will be office space, from $521 million last year to $410 million this year.

Stores and hotels will be the only commercial buildings to show an increase in permits, the board said. Stores will rise from $225 million in permits to $272 million, and hotels will rise from $75 million to $81 million.

With construction of commercial buildings in California outracing demand, the research board projects declines next year in permits issued for every commercial category statewide except industrial space, which it expects to rise in value by 5%. While the board makes no forecasts for individual counties, it said that it's likely Orange County will also see further declines.

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