City experiences major investment in the first quarter of 2019

The construction value of first quarter building permits exceeds $130M

NEWS RELEASE - Distributed April 5, 2019 4:30 PM

Summary

The City issued a number of significant permits in the first three months of 2019, with the total construction values (CV) for this period registering at just over $130M. In comparison, the total 2018 construction value was $216M and the previous ten-year annual average was $185M.

The $130M construction value total includes approximately $70M residential, $56.6M commercial, and $3.1M industrial.

Significant permits issued in the first quarter include:

100 Gordon Street – 9-storey, 172-unit hotel; $22M CV 15 Front Street – 6-storey, 89-unit hotel; $9M CV 2020 Estevan Road – 74-unit affordable and market rental; $20.5M CV 20 Prideaux Street - 57-unit affordable seniors housing, $6M CV 6544 Metral Drive – 32 rental units; $5.2M CV 4900 Uplands Drive – Dodd's Furniture; $5M CV 1965 Boxwood Road – Industrial; $2.1M CV 1925 Boxwood Road – Industrial; $2M CV 440 Selby Street – 45-unit hotel; $2.8M CV 6973 Island Highway North - 49 rental units; $6M CV 3425 Uplands Drive – 28 units of affordable housing; $5M CV 1515 Dufferin Crescent – 5-storey medical office building and parkade; $12M CV

These projects, and their cumulative construction value, confirm that growth and investment in Nanaimo remains strong.

Link to Strategic Plan: Economic Health

Key Points

In the first quarter of 2019, the City issued building permits for 365 new residential units, including 54 detached homes, 58 secondary suites, and 244 multiple dwelling units.
Permits issued for hotels at 100 Gordon Street, 15 Front Street, and 440 Selby Street will add more than 300 lodging units to the downtown core.

Quotes

"The number of significant building permits issued in the first quarter of 2019 represents a new high-water mark for the city, and is reflective of the significant public and private investments currently being made in our community."

Dale Lindsay

Director, Community Development

City of Nanaimo

-30-

Contact:

Dale Lindsay

Director, Community Development

City of Nanaimo

250-755-4493

dale.lindsay@nanaimo.ca

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