Both the value and number of building permits issued in Prince George in 2019 were up nearly 20 per cent over 2018 – the previous record-breaking year.
In November, the city announced that permit values had already reached $193.76 million, surpassing the previous all-time one-year high of $186.38 million achieved in 2018. However, the months of November and December added more than $30 million to the total to reach $223.11 million – a percentage increase of about 20 per cent over the preceding year. In addition, the total number of building permits issued in 2019 reached an all-time high of 611, up nearly 20 per cent from the 515 issued in 2018.
The total value includes another record-breaking number: $206.4 million of private sector investment, which is about 93 percent of the total permit values for the year. Strikingly, the number of new multi-family permits more than doubled from 33 in 2018 to 72 in 2019.
“Council is extremely pleased to see these important economic indicators for Prince George are continuing to trend upward,” said Mayor Lyn Hall, in a news release. “We are also very pleased that investors, businesses, and developers are recognizing the outstanding potential of our city.”
A few of the year’s most-valuable permits include:
- The student housing development at 1404 Patricia Blvd. – Faction Projects inc – $13 million
- The firehall at 2012 Massey Drive – City of Prince George – $11.84 million
- The hotel by Horizon North at 585 Dominion Street – Mundi SDR Development inc – $11.34 million.