2016 building values exceed expectations
North Bay, ON – January 4, 2017 – Building permit values reached a five year high in 2016 at $77.9 million, 13 per cent higher than 2015 values of $68.9 million.
The year closed stronger than initially projected due to significant industrial, institutional and commercial projects, including the $8.5 million Hands The Family Help Network project. As of December 31, non-residential construction numbers hit $62.1 million which is up 32.6 per cent from the same time last year. Residential housing permits also closed strong, up $6.3 million from the first half of the year.
“I am very happy with how we ended the year,” said Mayor Al McDonald. “We’ve had the highest construction build year since 2011; it’s a great sign for our economy and our community and shows great confidence by investors in our city.”
The City is forecasting another strong year of building construction in 2017.
A City building permit is required to build, demolish or renovate a dwelling. The City’s building statistics provide a record of all the permits issued during a period of time for residential, industrial, commercial and institutional construction in North Bay.
The City of North Bay is a city of 54,000 people situated between the shores of Lake Nipissing and Trout Lake. For information on City services and programs, North Bay residents, businesses and visitors can visit www.cityofnorthbay.ca