Press release regarding the above:
January 16, 2019
Building permits remain north of $200 million in 2018
MONCTON – The City of Moncton continues to see consistent and stable building permit numbers as 2018 ended with $222.6 million in permits, just shy of the record $243.4 million set in 2017. The trailing 10-year average rose by nearly ten million dollars to $186 million, ranging from a low of $123 million in 2014, to the 2017 high of over $243 million.
Commercial and industrial projects were strong throughout the year, coming in at $124.7 million or 56% of the total. The largest drivers of these results include an expansion at Organigram on English Drive ($36.7 million), a new Hyatt Hotel adjacent to the Avenir Centre ($17.6 million), a new Costco off Elmwood Drive ($13.5 million), and an expansion of Kent Distribution on Commerce Street ($9.5 million).
“This level of growth is good news for all Monctonians,” explained Mayor Dawn Arnold. “We are seeing that our City continues to be of interest to investors and developers, international newcomers, as well as other Canadians outside of New Brunswick.”
Institutional permits came in at $39.2 million or 18% of the total, down from $76.9 million in 2017. Some of the larger projects driving this value included $21 million for a new middle school in Moncton’s north end and a $5.5 million nursing home facility along Morton Drive.
Residential development represented 24.5% of the year’s total value at $54.5 million, down $8.2 million from 2017. This included 59 single unit homes valued at $11.5 million, 80 duplex units valued at $10.6 million, and 5 apartment buildings containing 252 units, valued at $22.9 million.
In addition, thirty (30) Heritage Permit applications were received in 2018 and seven (7) Heritage Grants were awarded in 2018 (listed below in descending order):
72 Botsford Street – $10,000
850 Main Street - $9,425
250 Bonaccord Street - $9,416
71 Park Street - $4,681
71 Church Street - $4,681
18 Botsford Street - $3,013
150 Queen Street – $2,150
“Our team remains optimistic about our level of growth and diversity”, said Kevin Silliker, Director of Economic Development. “We are routinely seen as a pace leader in the province, and we continue to look for new ways to help our community be prosperous.”