The City of Moncton continues on an upward climb with it building permits.
It hit new heights for building activity ending 2021 with $296.5 million in permits, that’s more than $25 million over 2020’s record setting pace.
Residential development continued to be the main driver of growth, representing 55% of the year’s permit activity at $163.4 million. This included 12 new apartment buildings with 695 units.
Commercial and industrial activity came in at $102 million for the year, up from just $57.8 million in 2020. The largest drivers include a $37 million distribution centre for Walmart Canada, a new $10 million Kent Building Centre, and a $4.6 million Manac Service Centre on Price Street.
Downtown development continued to trend positively in 2021. Downtown construction permits totalled $65.2 million. Many downtown developments such as the Lafford Towers, Ashford Living, and the Junction development are currently under construction.
Institutional development was down from 2020. It ended 2021 with $24 million in permits. The largest projects in this category include a new special care home valued at $8.6 million and various renovations at local schools and hospitals worth $7.5 million.
“Welcoming so many new people, especially during a pandemic, has been nothing short of remarkable,” explained Mayor Dawn Arnold. “Cities the size of Moncton seem to be the ideal choice for a growing number of Canadians for both cost and lifestyle benefits.”
