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2015 gets off to a slow start for new residential construction in the Twin Cities

The Builders Association of the Twin Cities reports January permits were down 13 percent from a year ago, with a 50 percent reduction in number of units.

New residential building in the Twin Cities got off to a slow start in January, according to a report from the Builders Association of the Twin Cities.

Compared to January, 2014, permits are down 13 percent, the group said. There was a 50 percent decrease in number of units, mainly due to a decrease in large multifamily projects.

Builders say new building codes are keeping the numbers down.

Chris Contreras, association president, said:

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“After a tough 2014 for single-family construction, we had hoped to see a much stronger start to this year. We are still hopeful that we’ll see the numbers pick up, but it’s concerning as the new residential building code takes effect this month. Home builders are feeling the full effects of this expensive new code as it will unnecessarily raise the price of new homes in Minnesota.”

The report says that in January, 308 permits were issued for a total of 529 units.

Topping the list:

  • Apple Valley, 111 permitted units
  • Rosemount, 97
  • Plymouth and Lakeville, 32
  • Chanhassen, 18
  • Blaine, 16