Commercial Building Permits Increase in St. Johns County | Business

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Commercial Building Permits Increase in St. Johns County
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Commercial Building Permits Increase in St. Johns County

ST. JOHNS COUNTY, Fla. -- Real estate values have been cut dramatically, but contractors said they are starting to see the market recover.

"It is significant," explained John Valdes, owner of Valdes and Associates in St. Augustine.  "I mean, there is a lot of activity in the real estate market ... we're seeing a significant upswing."

Valdes believes people are no longer waiting for the market to bottom out and want to spend their money before prices rise. 

"The market is correcting and the market is starting to go back up," said Michael Bourre, a spokesperson for the Northeastern Florida Builders Association. 

Commercial projects have seen the biggest increase recently.  From January through April 2011, St. Johns County issued 86 more commercial building permits than at that time in 2010, according to county records. That was an increase of more than 55 percent.

The Northeast Florida Builders Association reports the number of single family projects has also grown.

"It's been a long, hard road the last couple of year," said Bourre.  "But we're a tough group and we're making it through and we're very excited to see that slow and steady growth and that consumer confidence is coming back."

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