A number of construction cranes are dotting Moncton’s skyline these days which has boosted the value of building permits in the city.
Year-over-year fewer permits were issued during the third quarter but the City of Moncton says those permits were worth nearly $100 million which was more than double from 2018.
Commercial permits in the quarter ending September 30 had a value of $48.6 million.
Some of the larger projects included:
- expansion at Organigram
- new distribution centre for Day and Ross
- renovation at Atlas Structural Systems
- new pharmacy and clinic on Price Street (off Elmwood)
- new commercial plaza on Granite Drive (off Elmwood)
- new restaurant on Carson Drive
On the residential side, the City saw record development of new apartments with 10 new buildings which will contain more than 500 units for a total permit value of $48.1 million.
Some of the larger residential projects included:
- six-storey building with 118 units at 1321 Mountain Road
- six-storey mixed use building with 46 units at Junction Urban Village (on Vaughan Harvey)
Institutional permits accounted for $1.9 million or less than two percent of activity in the quarter.
Economic development director Kevin Silliker says he’s pleased to see a jump in residential given recent feedback about low vacancy rates creating a tight market.
Mayor Dawn Arnold says the city is already hearing from developers who are lining up projects in 2020.
