Langley Township's massive building boom is in its fourth year, but cracks are beginning to show in the foundation of the municipality's vibrant economy.
However, as Gary MacKinnon, the Township's economic development co-ordinator, points out, the softening in the new housing and industrial sectors during 2007 is offset by a surge in commercial, institutional and agricultural activity.
MacKinnon's report on the value of building permits taken out in 2007 shows a 171.4 per cent increase in agricultural activity, 32.9 per cent in institutional, and 30.5 per cent in commercial growth.
Overall, 2007 building permits totaled $387.3 million, surpassing the previous record set in 2006 by 1.1 per cent.
Although industrial permits fell by 17 per cent to $61 million, activity remains at an "extremely high level historically," MacKinnon said.
"It's been a great four-year run that has brought a diverse range of new jobs to the Township. However, it would be unreasonable to think that a relatively mature municipality could continue to grow at a record pace for much longer than this."
The value of commercial permits reached almost $60 million, up from what was then a record-setting $46.5 million the year before.
A number of one-time projects boosted the value for permits in the commercial, institutional and agricultural sectors.
Almost half of the $13.3 million in agricultural permits are for two large greenhouses at Darvonda Greenhouses in Milner, and a mushroom composting facility at 16 Avenue and 240 Street.