North Bay, ON – Oct. 6, 2022 – The City of North Bay has issued more than $200 million in building permits so far this year, surpassing last year’s all-time record of more than $150 million.
“I’m extremely proud that we are experiencing another record year for construction in North Bay,” said Mayor Al McDonald. “These numbers show that families, businesses, and industry continue to want to build in North Bay and have the confidence to invest in our community.”
Since 2019, more than $510 million in building permits have been issued by the City, which continues to experience significant construction activity as it enters the final quarter of the year.
“A half billion dollars of development over four years doesn’t happen by accident,” said Mayor McDonald. “As a City, we’ve worked hard to help facilitate development and I would like to thank those who made the choice to invest in our City. We believe this trend will continue next year given the pent-up demand in our City for residential, commercial and industrial serviced land.”
Of the 2022 year-to-date total, more than $125 million represents construction value of institutional developments in the city. Residential development makes up more than $45.5 million, more than $14.6 million is from commercial projects, industrial projects add up to more than $17 million and another $2 million is the result of miscellaneous projects throughout the city.
Year-to-date commercial, institutional, and industrial construction values are all up over last’s year’s 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. Residential construction values eventually climbed to $78.4 million by the end of 2021, with 245 total new dwelling units. Total new dwelling units so far this year are at 112.