KENAI (AP) -- Commercial building growth in the Kenai Peninsula Borough is experiencing its largest increase in seven years.
There were 32 permitted commercial alteration projects for a total assessed value of $2.4 million, according to borough figures for the second quarter. Seventeen new commercial permits on the Peninsula were valued at $8.37 million.
''That's the highest new commercial (value) that I have seen since 1995,'' said Jeanne Camp, the borough economic analyst who compiles records of business and economic development.
Camp said the new 64-bed dormitory at Alaska Vocational Technical Center in Seward, which will begin construction next spring, pushed the quarterly total above the seven-year high mark with its $2.5 million projected price tag.
The construction industry generated $2.7 million in sales tax that goes directly to the Kenai Peninsula Borough School District.
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