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Maritimes  + Alberta & Prairies + Canada  + Apartments  | 
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Moncton Generates $174.2M in Building Permits

Moncton, N.B., generated $174.2 million in building permits during the first three quarters of this year, says the municipal government.

“Moncton continues to experience substantial growth, with a total of 310 permits issued in the third quarter with a permit value of $74.6 million,” the City of Moncton said in a news release. 

Quarterly and yearly comparisons were not provided.

Residential development accounted for 51% of third-quarter activity, the city said. During the period, the city issued 91 permits for residential projects, creating 206 new mainly multi-residential units valued at $38.2 million.

Notable residential projects included a 123-unit apartment building at 310 Millennium Boulevard valued at $16.6 million and a 59-unit apartment building at 2500 Mountain Road worth $12.3 million.

The permit investments contrasted with Statistics Canada’s finding that Moncton experienced the country’s largest residential-construction cost increase (1.7%) in the third quarter. (Saskatoon tied for top spot.)

Moncton’s institutional and government projects generated $8.4 million in building permits during the period. Meanwhile, commercial and industrial construction projects resulted in 37 permits valued at $26 million. Notable projects include an $11.3-billion, four-storey warehouse and flex-office building at 55 Chief Noah Augustine Drive.


Inside The Story

Statistics CanadaCity of Moncton

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Development
  • ◦Financing
  • ◦Economy
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