Downtown vacancy rates continue downward trend
The total value of building permits issued in Prince George in 2018 has already reached an all-time high of $169.26 Million, easily surpassing the previous high mark of $147.88 Million set in 2007. The value includes a record amount of private sector investment, which at $135.17 Million, represents nearly 80 percent of the total and passes the previous record of $121.6 Million set in 2016. Residential building permit values have also set a new record at $100.31 Million.
“The value of building permits is a key measure of economic progress,” says Lyn Hall, Mayor of Prince George. “This number suggests a great increase in construction activity and related employment, as well as other direct and indirect economic benefits.”
The top 10 projects for 2018 are as follows:
- New construction of Kelly Road Secondary School: $28,322,950
- Parkade next to City Hall: $12,927,973
- Apartment building in College Heights (Building B): $6,700,000...