Moncton Reports Strong Building Permit Activity in the Second Quarter of 2024 2024-07-08

The City of Moncton has experienced a significant surge in building permit activity for the second quarter of 2024. A total of 437 permits were issued, representing a combined value of $92.2 million. Year to date, the total building permit value stands at $148.6 million, marking a 50 per cent increase compared to the same period last year, which was valued at $99 million.

The residential sector continues to thrive, with 152 permits issued, creating 306 new residential units. The total value of these residential projects amounted to $48.1 million, which accounts for 52 per cent of the second quarter’s building permit volume. Notable projects include a $16.6 million, 123-unit apartment building at 310 Millennium Blvd. and a $13.2 million, 87-unit apartment building at 161 Leopold F. Belliveau Dr.

Investment in institutional and government infrastructure also saw significant growth, with 21 permits issued totaling $12.2 million. A major highlight in this category is the $4.4 million excavation, ground works, and site preparation for phase 2 of the Atlantic Science Centre project at 343 Université Ave. and a $1.1 million renovation to accommodate a Wee College daycare at 260 MacNaughton Ave.

Commercial and industrial construction permits were robust, with 51 permits valued at $29.9 million, representing 32 per cent of the second quarter's building permit volume. Significant projects include the $8.8 million renovation of a 129,000 sq. ft. warehouse at 25 Trinity Dr. by U-Haul and a $5.2 million construction of a 41,000 sq. ft. warehouse for Gentek Building Supplies at 111 Desbrisay Ave.

“The strong building permit values we’ve seen this quarter highlight the confidence investors and developers have in Moncton’s potential,” says Kevin Silliker, director of economic development for the City of Moncton. “These projects are not just numbers: they represent homes, jobs, and opportunities for our community. We are dedicated to supporting this momentum and ensuring that Moncton remains an attractive destination for business and investment.”
 

Information:

Communications, City of Moncton
communications@moncton.ca