Saint John continues to see significant growth and development this year, according to the city’s development director.
Chris McKiel presented building figures through the end of September to council’s growth committee last week.
McKiel said 564 building permit applications have been received so far this year, which is just above the five-year average.
“Total value of construction has reached $117.8 million. This is the third-highest year-to-date that we’ve had in the last 11 years,” he said.
The five-year average for value of construction projects is around $83.5 million.
McKiel said they have already seen 404 new units created so far this year, which is much higher than usual.
That accounts for about 36 per cent of the 1,124 net new residential units the city is looking to build as part of its Housing Accelerator Fund agreement with the federal government.
“To compare the five-year average for units created is 273, so we’re just under 50 per cent above the five-year average,” he noted.
According to city staff, there are 17 projects on the horizon with more than 1,500 new units planned.
