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City Development Topped $122 Million in 2009
Fredericton (January 19, 2010) – Development in the City of Fredericton has topped the $100-million mark for the fourth-straight year. Newly released figures on building permits issued by the City during 2009 show the value of residential, commercial, industrial government and institutional construction totalled $122,259,843.28, the third-best year on record. Only last year’s $157.1 million and the $132.4 million in 2006 topped the 2009 figure.
“When you think about what happened in the world around us in the last year, it is quite a remarkable story,” said Councillor Dan Keenan, who chairs the City’s Standing Committee on Development. “We have been able to maintain our momentum through a very difficult economic climate and that says a lot about the confidence of developers in our community.”
The strong residential market was responsible for $61.4 million of the 2009 total, topping the $57.2 million recorded in 2008 in that sector. This resulted in the construction of 506 new dwelling units in 2009, compared to 470 for the same period in 2008. The construction of 169 new detached houses with a value of $25.5 million led the way followed by the construction of 270 new apartment units with a value of $15.6 million. There were also 47 new townhouses and 20 new duplexes constructed in 2009.
Major residential projects in 2009 included: a 52-unit apartment building on Reynolds Street; a 29-unit apartment building on Union Street, a 36-unit apartment building on Lian Street and a 28-unit apartment building on Cliffe Street.
Commercial Construction in 2009 came in at $8.98 million, slightly below the $11.8-million figure recorded in 2008. Some of the major commercial projects included renovations to the Aitken Centre on the UNB campus and new commercial buildings on Bishop Drive and Alison Blvd.
Municipal government construction projects were worth $35.6 million compared to $10.2 million in 2008,
Federal and provincial construction projects totalled $995,132 in 2009, down from $3,438,445 in 2008.
Institutional construction, while significant, was also down at $11,710,928 in 2009 compared to $61,347,325 in 2008.
Government and institutional projects included work on the downtown office building, parking structure and convention centre project, a N.B. Ambulance building on Harold Doherty Court, the Shannex senior living complex and a new church hall on Main Street.
The City received $906,754.46 in fees for the 1,392 building permits it issued in 2009.
The outlook remains bright for development in 2010. Anticipated residential construction projects include Phase Five of the Brookside West project with 46 single, detached units expected. A 40-unit apartment building, 30 townhouses and four-semi-detached units are expected to be developed in Rainsford Gardens and 80 townhouse units will be constructed on Kimble Drive. An additional 48 single, detached units are expected as Phase One of The Meadows at Neill Farm project rolls out.
Major Commercial projects anticipated in 2010 include continued development of the Corbett Centre, the construction of a new building on Knowledge Park Drive as well as projects at Two Nations Crossing and West Hills.
Government and institutional projects in 2010 include the construction of a new N.B. Community College on the UNB campus, on-going work on the UNB Wellness centre, a new south side fire station and renovation of the old railway station on York Street.
"We expect 2010 to be another strong year of development with many projects anticipated from both government and private sectors. We look forward to these contributing to our continued growth, said Coun. Keenan."
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Media Contact: John White, Communications, City of Fredericton (506) 460-2227
