Distributed July 11, 2016 9:30 AM
Construction in Nanaimo remains strong through first six months of 2016
The construction value in Nanaimo for the first half of 2016 totalled $99,594,688. This amount represents an increase of 12% over this time last year. In addition, commercial building permit values increased from $34,828,764 to $40,865,328 while residential values for new single family dwellings increased from $46,159,189 to $52,467,871.
The number of single family dwellings this year to date is 156 vs. 161 in 2015. However, the percentage of new homes with secondary suites has increased to 63% (97 installed suites) as opposed to last year’s 53% (86 installed suites).
Construction values of notable developments to date include:
* Malaspina Care Residence on 12th Street - $12,050,000
* Lowes at North Town Centre Mall - $3,000,000
* Royal Oak Place residential development - $1,900,000
* Vancouver Avenue residential development - $1,800,000
* Dublin Way residential development - $1,600,000
* Commercial development on Northfield Road - $1,500,000
* BCAA building on Aulds Road - $1,500,000
* Western Forest Products storage building - $1,300,000
* Audi addition on Kenworth Road - $1,200,000
* Timberwood Drive residential development - $1,200,000
* Woodgrove Mall exterior entrance renovations - $1,100,000
Strategic Link: N/A
- Last year’s strong construction trend has continued into 2016.
- Both commercial and residential sectors are showing no signs of weakness.