Five months into 1991, commercial construction in Orange County is at a lower point than it was last year. Through May, the most recent month for which information is available, the value of building permits issued for future building projects is less than the comparable period last year in all five major categories as well as overall.
Permit values for industrial and office buildings, stores and hotels/motels are at least 25% behind 1990s' first five months. Valuations for alterations and additions trail the 1990 figure by less than 1%. All categories considered, the decline from last year stands at 26%.
Of all the commercial construction permits issued during the first quarter in the local five-county area--that is, here and the contiguous four counties--just 16% were for Orange County work; 9% of the value of all permits issued statewide was for local projects.
The current slump is regionwide. The four neighboring counties--Los Angeles (-28%), Riverside (-27%), San Bernardino (-28%) and San Diego (-27%)--are all running behind their 1990 levels by similar percentages. The statewide total is down 23%.
Here's how the first five months of 1991 compare to last year:
1991 % of Jan.-May Jan.-May 1990-1991 5-County Building Type 1990 1991 % Change Total Industrial $38,573 $18,857 -51 8 Office 108,047 80,835 -25 21 Stores/Mercantile 88,637 58,245 -34 16 Hotels/Motels 15,734 1,211 -92 1 Alterations/Additions 164,283 163,687 * 18 TOTAL BUILDING** $510,699 $376,759 -26 16
1991 % of State Building Type Total Industrial 5 Office 13 Stores/Mercantile 9 Hotels/Motels 1 Alterations/Additions 9 TOTAL BUILDING** 9
Note:Amounts listed in thousands of dollars, not adjusted for inflation. *Less than 1%. **Includes the above categories plus others not shown. Source: Construction Industry Research Board