Moncton Hands Out Record-Breaking Number Of Building Permits
MONCTON–Construction in the Hub City continues at a red-hot pace, with substantial growth across all sectors.
Coming off a historic 2021 that saw record-breaking building activity, the City of Moncton says the first quarter of 2022 brought in an all-time high of 202 building permits, valued at a combined $40-million.
It’s a 57 percent increase compared to the same period last year and is the highest value reached since 2017, according to the city.
“The city is seeing unprecedented growth, despite the last few years’ challenges with the pandemic,” Mayor Dawn Arnold said in a news release.
“Moncton is a prime destination for people to move to, invest, and expand their business–-actions that speak to our community’s quality of life and limitless opportunities.”
Commercial and industrial developments lead the way with $18.5-million in permits, largely attributed to the construction of a manufacturing building located at 650 Frenette Avenue, by Ideal Roofing Company Ltd., valued at over $7.3 million. The redevelopment of 555 Mapleton Road by Cordova Realty Ltd., valued at over $1.6-million, was also a factor.
Slightly behind is residential construction, which saw 87 permits adding 93 new units to the market. Residential permits were worth a combined $17.2-million.
Smaller contributions came from institutional and government infrastructure development. The most significant project is the $1.2-million renovations at the Dumont Hospital.
“March was a huge month for the intake and processing of building permits, building momentum for the city’s numerous infrastructure improvements and new developments to come in the second quarter,” said Kevin Silliker, director of economic development.
“There are many projects coming down the pipeline for 2022 that will be tied to large-scale permits, projects that we look forward to supporting.”
Robert Lothian is a reporter with 91.9 The Bend in Moncton, a Huddle content partner.