City of Moncton Building Permits Reach $270 million in 2024 2025-01-16

The City of Moncton is pleased to announce that building permits issued in 2024 totalled $270 million, reflecting steady growth and ongoing investment in the community.

Residential development led the way, accounting for 56 per cent of the year's activity with $150.7 million invested across 449 permits. This resulted in 987 new residential units being added to Moncton’s housing market. Notable projects include a $17.3-million, 135-unit apartment building (Building E) at 290 Millennium Blvd; a $16.6-million, 123-unit development (Building D) at 310 Millennium Blvd; and a $15.9-million, 129-unit complex on McLaughlin Drive.

The commercial and industrial sectors also performed well, with investments totalling $87.2 million from 164 permits – a 15 per cent increase over the prior year’s $76 million. This is the second-highest outcome on record for the City of Moncton, bested only by the $102 million achieved in 2021. Highlights in these sectors include the construction of a $14.7-million warehouse by Greystone Energy Systems on Desbrisay Avenue, U-Haul’s $8.8-million renovation of a 129,000 sq. ft. warehouse at 25 Trinity Dr., the construction of a $6.5-million, 38,500 sq. ft. warehouse at 35 Loostouk St. for Kerr Controls, and an interior renovation to create a storage warehouse with offices for Eastern Reinforcing at 120 Henri Dunant St., valued at $1.3 million. 

“There have been several really key projects started and completed in 2024 and as we look ahead to 2025 there is more transformative development on the way,” says Moncton Mayor Dawn Arnold. “It is encouraging to see that continued momentum, which is an indication of the ongoing confidence businesses and residents have in Moncton as a place to live and invest.”

Institutional investments added $26 million through 65 permits. Notable projects include a $4.4-million excavation, ground works, and site preparation for phase 2 of the Atlantic Science Centre project at 343 Université Ave., a $1.5-million conversion of a warehouse/office building at 210 Millennium Blvd. to accommodate the new Eastgate Academy private school, a $1.2-million renovation to the kitchen on level 2 of the Dr. Georges-L.-Dumont University Hospital Centre, and a foundation permit valued at half a million dollars for the construction of the Al Salam Community Centre at 177 de Fiedmont St. 

“Moncton’s growth in 2024 indicates the continued demand for residential, commercial, and industrial spaces,” says Luc Babineau, interim director of Economic Development. “The City of Moncton’s 2024 permits reflect a focused effort to address the growing demand for housing, with nearly 1,000 new residential units added to the housing market.”

Information:

Communications, City of Moncton
communications@moncton.ca