Fredericton doubles the average total value of construction with $114.3M in mid 2021

Development fueled by population growth and residential demand

The City of Fredericton issued building permits for $114.3M in construction value for the first half of 2021.  This compares to just over $52M in 2020 for the same period last year and is the busiest start to a year in the past decade.

Development flourished across all sectors, particularly the residential sector with construction value of $76.6M so far this year, more than double the previous mid year total of $36.6M.  Permits for 410 new housing units have been issued over the last six months.  More than 340 of those units are new apartment and townhouse units, which establishes a new record for activity in the City.

Forty-seven new single homes are under construction, also up from last year and the highest level of new activity since 2013.  

“More and more people are choosing to call Fredericton home,” said Councillor Jason LeJeune, Chair of the City’s Economic Vitality Committee. “I’m pleased to see the development community in Fredericton responding to this growth by providing many options for housing in the city.”

The mid year statistics also show the beginning of recovery from the COVID-19 pandemic in the commercial construction sector.  At the end of June, permits for construction of more than $12M of development were issued, up from only $9M last year. 

“Our city is growing, as had been anticipated,”said Councillor Jason LeJeune, Chair of the City’s Economic Vitality Committee. “It’s through our extensive planning and research that we are prepared to meet these increasing demands.”

Imagine Fredericton: The Municipal Plan was adopted in January 2020.  An outcome of the City’s extensive planning process Imagine Fredericton and the 2017 Growth Strategy.  The Municipal Plan provides a bold vision for Fredericton and recognizes that our growth will be increasingly urban over the next twenty years.  This is reflected in the development statistics which show significant growth in our downtown and urban core.

Despite the very positive increases in residential construction, demand for housing remains exceptionally strong and sustained levels of high construction activity will be required to meet demand.  The City is committed to improve access to affordable housing. Fredericton’s Affordable Housing Committee in partnership with the City, are supporting multiple initiatives to advocate for those who require affordable rent, have special housing needs, or have recently migrated to Canada. An Affordable Housing Strategy is being developed and the final report is expected to be released this fall.