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Construction year finishes at all-time high

Permits for a record-setting $186.4 million worth or work were taken out during 2018, according to year-end numbers from city hall. The total surpasses the previous mark of $147.9 million reached in 2007 by nearly $40 million or 26 per cent.
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The building permits for the construction of a two-structure apartment complex in College Heights were 2018's third and fourth most valuable permits.

Permits for a record-setting $186.4 million worth or work were taken out during 2018, according to year-end numbers from city hall.

The total surpasses the previous mark of $147.9 million reached in 2007 by nearly $40 million or 26 per cent. That mark was actually surpassed in the fall.

At $156.5 million, private sector investment accounts for 84 per cent and also surpasses the previous record of $121.6 million, set in 2016, by nearly $35 million or 29 per cent.

Residential construction also set a new record at $114.4 million, breaking the previous record of $76.4 million in 2017 by about $38 Million, a percentage increase of 50 per cent.

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.

"Traditionally, the value of building permits is an important measure of economic progress," the city said in a press release. "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 (figures are rounded up to the nearest $100,000):

- New construction of Kelly Road Secondary School: $28.3 million;

- Parkade next to city hall: $12.9 million;

- Apartment building in College Heights (Building B): $6.7 million;

- Apartment building in College Heights (Building A): $5.9 million;

- Renovation at UHNBC: $5.2 million;

- Federated Co-Operatives Ltd. New Bulk Plant (BCR Industrial Park): $3.5 million;

- Addition to show lounge at Treasure Cove Casino: $3 million;

- New multi-family development (3rd Ave): $2.6 million;

- New multi-family development (Vanier Drive): $1.6 million;

- New single-family dwelling (West): $1.6 million.