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Moncton building permits set new record for second year in a row

Moncton
Moncton building permits set new record for second year in a row

Date Posted: 2021-01-20

Organization Name: City of Moncton

The City of Moncton has again broken new ground when it comes to annual building activity, and this time did so during a global pandemic. The year that presented so many new challenges ended with $270.8 million in permits, up from $257.4 million in 2019.

The trailing 10-year average rose by more than $10 million to $202.3 million, reaching more than $200 million for the first time. The annual range over the last decade spans from a low of $123 million in 2014, to this year’s record high.

The clear winner for 2020 was residential development, representing nearly half of the year’s permit activity at $133.6 million. This included 11 new apartment buildings with 728 units for a combined value of $90.8 million.

Institutional development was also strong in 2020 with $71.1 million in permits. The largest projects in this category include a new K-8 school on McLaughlin Drive valued at $34.1 million and a new addition at the Moncton Hospital worth $25.4 million.

Commercial activity came in at $57.8 million for the year, down from a robust $140.7 million in 2019. The largest drivers of these results include a $9.2 million Brandt dealership on Urquart, a $5.5 million Jessome Tools facility on Desbrisay, a $4.3 million Kelcold warehouse on Frenette, and a $3.3 million MACC warehouse on Price.

“To have this level of growth during a rapidly evolving global health event is nothing short of remarkable,” said Mayor Dawn Arnold. “This part of our country continues to prove itself to be a haven with good balance and a stable outlook.”

Development within the downtown area continued to capture a good piece of the action. Building permits in the downtown totaled $48.8 million in 2020, including 248 new apartment units across four buildings (included above) within the area of Gordon/Weldon/Cameron Streets. These four projects alone accounted for $37.2 million of permits in the downtown.

“The work from home reality has certainly shifted a lot of the local supply chains, with impacts on many businesses,” said Kevin Silliker, Director of Economic Development. “We do look forward to welcoming back more workers in the downtown who bring a great deal of vibrancy and life into the core of our city.”