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.