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Private sector investment sustained in Moncton


January 16, 2015

  

MONCTON – As Moncton’s population continues to climb, developers are pushing forward to build more places for people to live. Based on the City of Moncton’s Building Permits reports, construction of single-family homes, duplexes, semi-detached homes, multi-unit apartment buildings and condominiums have increased over the last year. The total value of residential permits issued in 2014 was $53.8 million, up from $51.5 million in 2013.

 

In the month of December alone, traditionally a slower month in residential construction, permits valued at $4.9 million were issued, up from $1.4 million in 2013 and $1.6 million in 2012.

 

“Moncton’s quality of life is being noticed, and continues to attract new residents seeking great opportunities,” said Mayor George LeBlanc. The mayor noted the city continues to place emphasis on projects that encourage people to connect as a community such as the hosting of festivals that bring thousands of people together several times a year, and an emphasis on public art, entertainment, and pleasant outdoor spaces.

 

Private sector investment in the local economy has also been key to sustaining Moncton’s overall development; in 2014, commercial permit values were solid at $53.8 million, a consistent range when compared to $72 million in 2013 and $54 million in 2012. There continues to be strong investment in retail projects (including Cabela’s and others projects in the Mapleton retail zone), downtown (upgrades at 1234 Main Street i.e. – Tangerine; plus the new Radio Canada / CBC location on Main St) and in the industrial parks (Organigram and a new warehousing project).

 

In total, the city issued building permits valued at $130,583,124, down from the 2013 total of $189,130,352. Most of the drop can be attributed to a significant decline in institutional and government spending in 2014 compared to the banner year of 2013. This sector accounted for $15 million of construction in 2014, compared to $60.3 million in 2013. 

 

Kevin Silliker, director of economic development with the city, said he is encouraged by projects already lined up for this year: “A lot of the construction permits throughout the last two years have been focused on major retail projects that will be opening in 2015,” he said. These include Cabela’s, considered a destination shopping location, as well as a new home for Princess Auto on Mapleton Road and a new Home Hardware location on Elmwood Drive, just beyond the TransCanada Highway.

 

Cabela’s, a hugely popular chain that offers everything from hunting and fishing gear to housewares, will open this spring off Mapleton Road; Moncton will also see the completion of a new Sleep Country Canada and Goodlife Fitness next to Moxie’s restaurant.

 

Together, commercial and industrial construction permits amounted to $58.2 million in 2014. An additional $3.4 million in permits were issued for signs and other small construction projects like sheds and fences.

The City of Moncton reminds Monctonians that any structure being added to a site, including accessory buildings, fences and decks, requires building and development permits, as stated in the Building By-Law 2-410 and Zoning By-Law Z-202.For information on building permit applications, contact the Building Inspection Department by phone at 856-4375 or by email at info.inspection@moncton.ca.  

 

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INFORMATION:

 

Kevin Silliker

Director of Economic Development, City of Moncton

506-853-3532 / Kevin.Silliker@moncton.ca