City breaking building permit records in 2015
The construction sector in Edmonton shows continued strength despite a slowdown in Alberta’s economy. The City of Edmonton issued building permits worth $2.365 billion in construction value as of June 30, 2015. This represents an increase of 14 per cent from the same period last year and an increase of 33 per cent compared to the five-year average.
“The surge in building permits stems from many large-scale projects in our downtown core, indicating Edmonton is attractive for residents and investment,” said Garry Dziwenka, Acting Branch Manager of Current Planning.
The total value from January to June 2015 for each permit type is as follows:
- Commercial: $488 million
- Industrial: $154 million
- Institutional: $124 million
- Residential: $1.6 billion
- Miscellaneous: $13 million
Many projects are issued permits in stages as the building progresses from foundation through to occupancy based on tenancy requirements. Building permit highlights from January to June 30, 2015 include:
- Edmonton Civic Tower – $23 million
- Stantec office/condo building – $91 million
- A development in the Brewery District – $12.7 million
In June alone, the City approved $530 million in building permit construction value, up 15 per cent from May. That is 30 per cent higher than June 2014 and up by 82 per cent compared to the five-year monthly average.
The City of Edmonton publishes monthly reports on construction permit values online.