Moncton building permits reach $341M in 2023

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The City of Moncton says it issued $341 million worth of building permits in 2023, the second-highest to the $366-million record year of 2022.

Kevin Silliker, the city’s director of economic development, said in a news release that residential development accounted for more than 59 per cent of the year’s permit activity, totaling $204 million across 332 permits. This has resulted in the addition of 1,177 new residential units to Moncton’s housing market, a significant contribution to meeting the city’s growing housing needs.

The City of Dieppe said last week it granted a total of 571 building permits in 2023, representing investments worth $182.35 million and surpassing the previous record of $119.4 million set in 2022. The Town of Riverview said it had allocated 145 total building permits in 2023, representing over $33 million invested in local residential, commercial, and institutional infrastructure. 

Silliker said the city aims to add approximately 1,000 new housing units per year to keep up with the growing demand for the future. In 2019, 957 were created, followed by 985 in 2020, 1,005 in 2021, 1,285 in 2022 and 1,177 in 2023.

The federal government announced late in 2023 that Moncton would receive $15.5 million from the Housing Accelerator Fund, which is expected to drive construction of new homes and renovations of existing buildings to create more housing units in 2024.

Silliker said the downtown core market has seen the addition of 1,092 new housing units since 2017. He said building permits in the downtown area surged to $66.5 million in 2023, marking a significant increase of 1.7 times the value achieved in 2022. This boost resulted in 243 new housing starts, with the third phase of the Three Sisters mixed-use building at 19 Foundry leading the way at $32.5 million, featuring 152 residential units.

Other noteworthy downtown projects include a mixed-use building at 1333 Main Street, housing 89 residential units with a permit value of $23.3 million, and the Aquilini Properties’ restaurant/bar permit at 999 Main St, totaling $2.8 million.

Silliker noted that the majority of permits are the result of private investors, as opposed to institutional projects that rely on taxpayer money.

“Moncton’s downtown revitalization is gaining momentum, with these notable projects contributing to the city’s economic vibrancy. We look forward to further enhancing our urban landscape in 2024.” explains Kevin Silliker, Director of Economic Development.

Commercial and industrial permits total $76M in 2023

Silliker said commercial and industrial sectors totaled $76 million across 156 permits. Major projects include a four-story warehouse and office building at 55 Chief Noah Augustine Dr for Greenfoot Energy Solutions Inc., with an investment of $11.3 million. Additionally, the construction of a Bayview Kenworth dealership at 175 Harrisville Blvd, valued at $4.8 million, and the construction of cold storage and offices building by Cargo County with the permit valued at $4.3 million located at 180 Desbrisay Ave.

Institutional permits total $52 million in 2023

Silliker said institutional development also made significant strides, reaching $52 million through 49 permits. Major institutional projects include a $32.5 million Moncton Hospital construction of a two-story addition for coronary care services at 80 Arden St., and a $6 million construction project for a two-story nursing home addition with 60 new bedrooms at 75 Souvenirs St.

Following is the value of building permits in Moncton over the last five years:

• 2019: $256.3 million

• 2020: $267,1 million

• 2021: $296.4 million

• 2022: $365 million

• 2023: $341.8 million