Fredericton's commercial construction sector on the grow, says city official
By HEATHER MCLAUGHLIN
mclaughlin.heather@dailygleaner.com
Published Saturday August 18th, 2007
Appeared on page a8
It’s the year of commercial construction in New Brunswick’s capital city.
After several strong years of residential housing, and apartment and townhouse construction dominating the marketplace, Fredericton’s retail sector is rising to the top in 2007.
Development committee chairman Mike O’Brien will have a full mid-year review of the city’s development picture at Tuesday’s development committee meeting, but he said the city is posting a solid building season to date.
“Commercial and institutional permits are coming on line, which will keep the numbers strong. Businesses and residents alike are showing tremendous confidence in our market and in the city,” O’Brien said.
Business and commercial growth tends to follow population and with Fredericton’s population nudging beyond the 50,000 mark, commercial activity is picking up steam.
More jobs, in turn, bring more people and that recharges the residential sector in cyclical fashion, he said.
Fredericton ended 2006 with its best-ever construction performance at $137.4 million. Some of that recordsetting construction was driven by the city’s own construction agenda with the completion of the $16 million northside sports and leisure complex, construction of two new swimming pools and repairs to two others.
This year, O’Brien predicts the city will again break the $100 million mark.
“The way things are heading, it’s going to possibly be our second-best year ever, which is pretty phenomenal,” O’Brien said.
The outlook for 2008 is expected to be as strong as 2007, he added.
“Residents should take pride in what is happening in their city.
It is green, clean, safe and financially solid with a strong sense of its past, but the emphasis on growth,” he said.
Some of the commercial projects on tap for this year include the construction of a new Best Western hotel on Bishop Drive.
The building permit has already been issued for the $3.6-million hotel project.
The city will see the construction of a new Tim Horton’s coffee shop in the vicinity of the Home Depot site.
A new Kent home-improvement warehouse will be constructed on the north side of the St. John River at Wal- Mart’s Two Nations Crossing shopping mall site. Other development is brewing in the same area, including the possibility of a new Canadian Tire outlet combined with a Mark’s Works Wearhouse store. Mark’s is now part of the Canadian Tire family of companies.