Fredericton achieves record-breaking $170M in development activity in 2019

Development reflects City’s population growth projections and plans

The City of Fredericton issued building permits for over $170 million in development activity in 2019, exceeding the all-time record from 2010 by $2 million and surpassing last year’s $134 million. This record-breaking development reflects the City’s population growth projections and is consistent with its urban plans.

The total value of construction in 2019 was above the 5 and 10-year averages of $119 million and $117 million respectively. Development was stable and strong across all sectors with commercial development, largely private-sector driven, valued at $76 million, more than double the annual average of $33 million.

Residential activity was stable, showing a strong pattern of urban development including multi-family units that reflect Fredericton’s increasingly dense population in the urban core.

As of July 1, 2018, Statistics Canada data pegs the population of Greater Fredericton at 108,054, an increase of 6,294 from the 2016 metro population of 101,760. The City forecasts that Fredericton’s population will have grown from 62,000 to around 66,000 by the summer of this year.

“The City has been preparing for this level of growth since 2017,” said Coun. Grandy, Chair of the City’s Development Committee. “Our population has been growing at around 2,000 people per year in recent years, and the 2019 development numbers reflect our extensive planning processes and projections, like Imagine Fredericton, and the corresponding growth of our community.”

Imagine Fredericton was the community-based process to create a Growth Strategy and new Municipal Plan for Fredericton. The Growth Strategy set the framework for where and how the city should grow over the next 25 years. It envisions a compact, efficient and sustainable city achieved by creating a more vibrant urban core, walkable neighbourhoods with local amenities, and enhanced mobility options. The Growth Strategy also guided policy development for our new Municipal Plan, the first new comprehensive plan for the city in a generation.

“We engaged in extensive public consultations with citizens, investors, business and industry, completed best practice research and a lot of hard work to prepare for this growth. We are growing and we’re prepared – now and into future,” said Coun. Grandy.

A more complete review of the numbers will be released at Development Committee on January 15, 2020.