ALBURY has again displayed its resilience in tough economic conditions with a slight increase in the number of development applications determined in the past financial year.
The city has bounced back from an 18 per cent drop in development approvals two years ago to record an 0.5 per cent lift, based on the number of applications determined in 2011-12.
The value of 951 development applications approved last financial year was $152 million, 4 per cent lower than the previous year.
The $12 million five-storey residential apartment tower at the western end of Dean Street was the largest single project.
Another $4.8 million is being spent on an expansion of an aged care facility in Warren Street, Lavington.
In 2010-11, when development approvals fell by 18 per cent, the value of development was $185 million, thanks largely to the $50 million investment in Volt Lane and an $11 million expansion of the Kensington Gardens retirement village.
The council’s planning group determined applications in an average of 32 days (gross) and 25 days (net) during the reporting period. That represents a slight increase on processing times from a year earlier of 30 and 22 days.
The turnaround times were influenced by three applications that took more than 300 days.
These were the Caltex service station upgrade in Union Road, which is almost finished, and two that were withdrawn.
They were alterations and additions to a residential property in Jones Street in central Albury and a commercial development in Carcoola Street, Lavington.
Another four applications exceeded 200 days and 16 applications took more than 100 days.
Eighty per cent — 493 applications — were processed in less than 40 days.
The council’s planning and environment director, Michael Keys, said while Albury was not immune to the pressures of the national and international economies it continued to perform well.
“We remain a strong regional centre that continues to see new investment in commercial, industrial and residential markets,” Mr Keys said.
“While the level of investment may vary, Albury remains a centre of interest and demand in the development industry.”