Ontario Construction News staff writer
The City of North Bay has issued more than $200 million in building permits so far this year, a 25 per cent increase over last yearโs all-time record of about $150 million.
โIโm extremely proud that we are experiencing another record year for construction in North Bay,โ said Mayor Al McDonald. โThese numbers show that families, businesses, and industry continue to want to build in North Bay and have the confidence to invest in our community.โ
Since 2019, more than $510 million in building permits have been issued and North Bay continues to forecast significant construction activity as it enters the final quarter of 2022.
โA half billion dollars of development over four years doesnโt happen by accident,โ McDonald said. โWeโve worked hard to help facilitate development and I would like to thank those who made the choice to invest in our city.
โWe believe this trend will continue next year, given the pent-up demand in our for residential, commercial and industrial serviced land.โ
2022 year-to-date totals include:
- $125 million in institutional development construction
- $45.5 million in new residential development
- $14.6 million in commercial projects
- $17 million in industrial construction
- $2 million in โmiscellaneous projectsโ
Year-to-date commercial, institutional, and industrial construction values are all up over lastโs yearโs year-end totals and year-to-date residential construction values are slightly higher than the $43.6 million that they were sitting at this time last year, the city reported.
In 2021, residential construction values climbed to $78.4 million with 245 new dwelling units. So far this year, there are 112 new housing units.