Moncton continues to see steady growth in building permits, according to city officials.
A total of 346 building permits worth more than $84 million were issued in the third quarter.
Residential construction represented two-thirds of the total permit value at nearly $57 million.
Officials said the housing development surge added 370 new residential units to the city’s housing market.
Some of the major projects include a $17-million, 135-unit apartment building at 290 Millennium Boulevard and a $12-million, 59-unit apartment complex at 2500 Mountain Road.
“Moncton’s sustained development confirms our community’s attractiveness for residents, businesses, and investors alike,” said Mayor Dawn Arnold.
“With our housing market expanding and key institutional and commercial projects in the works, our city continues to grow in a positive way.”
Commercial and industrial projects accounted for just over one-fifth of the building permit volume in the third quarter at nearly $19 million.
Notable projects include a $6.5-million, 38,500 sq. ft. warehouse on Loostouk Street for Kerr Controls and a future commercial tenant, along with a $3.6-million office/warehouse building for ET Transport on Frenette Avenue.
Institutional and government infrastructure investments saw steady growth with a total value of $5.7 million.
It includes the $1.5-million conversion of the warehouse/office building at 210 Millennium Boulevard to accommodate the new Eastgate private school.
“The building permit activity in the third quarter of 2024 reinforces Moncton’s standing as a dynamic hub for investment,” said Kevin Silliker, the city’s economic development director.
So far this year, the city has issued nearly $233 worth of building permits, up from $173 million during the same time last year.
