Tuesday, July 12, 2016

Nanaimo Construction Sectors Remain Strong

Nanaimo Info Blog file photo
Residential and commercial sectors increase over 2015

Construction in Nanaimo is carrying on with the strong trend of 2015 and is showing no signs of weakness. According to Tom Weinrich of the City's building inspections "This is turning out to be another robust year for Nanaimo's construction industry.". He noted that in addition to the projects highlighted in this report there are three more projects in the pipe which will add another $20 million of value.

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



allvoices

No comments:

Post a Comment

Your comment will appear after moderation before publishing,

Thank you for your comments.Any comment that could be considered slanderous or includes unacceptable language will be removed.

Thank you for participating and making your opinions known.