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Record year for building permit values

The total value of building permits issued in Prince George in 2018 reached an all-time high of $186.38 million, surpassing the previous high mark of $147.88 million set in 2007 by nearly $40 million – a 26 per cent increase. The value includes a record amount of private sector investment, which at $156.53 Million, represents about 84 per cent of the total and passes the previous record of $121.6 million set in 2016 by nearly $35 million – an increase of 29 per cent.

Residential building permit values also set a new record at $114.37 million breaking the previous all-time record of $76.42 million in 2017 by about $38 million, a percentage increase of 50 percent. In total, the city issued 438 residential building permits, which include permits for renovations and new construction.

In total, the number of building permits issued rose from in 455 in 2016 to 515 in 2018, and the number of new multi-family permits rose from one in 2016 to 33 in 2018.

Last fall, the city announced that the total value of permits for 2018 had already broken a number of all-time records even though the year was not yet complete. Traditionally, the value of building permits is an important measure of economic progress. A high number indicates an increase in construction activity and related employment, as well as other direct and indirect economic benefits.

The top 10 projects for 2018 in terms of building permit value 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. New single-family dwelling (West): $1,571,596