MONCTON – The Hub City continues to grow, and it showed in 2018 as the city issued $222.6 million worth of building permits, the municipal government announced Wednesday.
The figure is a little lower than the record high of $243.4 million set in 2017. But the trailing 10-year average rose by almost $10 million to $186 million. The lowest point in the decade was in 2014 when permits came in at $123 million.
“This level of growth is good news for all Monctonians,” said Mayor Dawn Arnold in a release. “We are seeing that our city continues to be of interest to investors and developers, international newcomers, as well as other Canadians outside of New Brunswick.”
Commercial and industrial projects made up 56 per cent of the permits last year at $124.7 million. The largest drivers include a $36.7-million expansion at Organigram’s facility on English Drive, $17.6 million for a new Hyatt Hotel adjacent to the Avenir Centre, a new Costco off Elmwood Drive ($13.5 million), and a $9.5-million expansion of Kent Distribution on Commerce Street.
About 18 per cent of the total – at $39.2 million – were permits for institutional buildings, down from $76.9 million in 2017. Some of the bigger projects included $21 million for a new middle school in Moncton’s north end and a $5.5-million nursing home on Morton Drive.
Residential development represented 24.5 per cent of the year’s total at $54.5 million, a decrease of $8.2 million from 2017. This included 59 single unit homes valued at $11.5 million, 80 duplex units valued at $10.6 million, and 5 apartment buildings containing 252 units, valued at $22.9 million.
The city also received 30 Heritage Permit applications. It awarded seven Heritage Grants last year for the following projects:
- $10,000 for 72 Botsford Street
- $9,425 for 850 Main Street
- $9,416 for 250 Bonaccord Street
- $4,681 for 71 Park Street
- $4,681 for 71 Church Street
- $3,013 for 18 Botsford Street
- $2,150 for 150 Queen Street
The Heritage Grant is available for eligible homeowners who want to restore or renovate the outside of their property, according to the city’s website.
“Our team remains optimistic about our level of growth and diversity,” said Director of Economic Development Kevin Silliker in the release. “We are routinely seen as a pace leader in the province, and we continue to look for new ways to help our community be prosperous.”