Value of building permits sets records

Value of building permits sets records

City of Prince George Top 10 Permits

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:

  1. New construction of Kelly Road Secondary School: $28,322,950
  2. Parkade next to City Hall: $12,927,973
  3. Apartment building in College Heights (Building B): $6,700,000
  4. Apartment building in College Heights (Building A): $5,855,000
  5. Renovation at UHNBC: $5,200,000
  6. Federated Co-Operatives Ltd. New Bulk Plant (BCR Industrial Park): $3,500,000
  7. Addition to Show Lounge at Treasure Cove Casino: $3,000,000
  8. New multi-family development (3rd Ave): $2,600,000
  9. New multi-family development (Vanier Drive): $1,600,000
  10. (Tie) Alterations to temporary community living space for AWAC in downtown Prince George (Association Advocating for Women and Children): $1,500,000
    Interior alterations and patio canopy addition to Browns Socialhouse at Pine Centre $1,500,000

427 building permits have been issued so far this year.

Link to full story http://bit.ly/2qO25mo

No Comments Yet.

Leave a comment