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City of Moncton continues to see strong building permits to kick off 2017


April 21, 2017

MONCTON – The total value of permits for the first quarter ending March 31st, 2017, came in at $60.8 million, up 31 per cent from $42 million during the same period last year and just $9.1 million in 2015. The total number of permits for the quarter was 162, up from 146 in 2016.

Both commercial and residential building permits had solid showings, with 3-month totals of $25.3 million and $27 million, respectively. The largest drivers of these results included Organigram, with an $18 million expansion; along with several other industrial buildings deriving about $3 million in permits for expansion and warehousing. The residential side saw the ‘Five-Five Queen’ condo project break ground in March, with $20.9 million in permits issued for the first quarter of 2017; and a 55-unit apartment building on Diamond Head Court valued at $3.8 million.

Institutional permits accounted for $7.8 million or 13 per cent of the quarter’s activity, with much of that coming from a Federal government building renovation at 1081 Main St. worth $6.3 million.

“The momentum in our city’s development continues to be lively,” said Mayor Dawn Arnold. “We are working hard to keep this going, which is garnering interest from outside the region and is excellent news for the prosperity of our community.”

The City’s Economic Development team continues to work closely with developers, both big and small.

“The interest in our Downtown in particular has certainly been stronger than we’ve seen in years past,” said Kevin Silliker, Director of Economic Development. “We are especially pleased with the results from the first quarter.  The permit figures certainly demonstrate confidence in our local economy.”

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INFORMATION
Richard Dunn
Economic Development Officer, City of Moncton
506-853-3599 / richard.dunn@moncton.ca