Calgary construction valued at $1.3 billion at the end of Q1

CALGARY — Construction in the City of Calgary is closing out the first quarter of 2023 with $1.3 billion in value.

The value “demonstrates the confidence that there is to invest in our city. With the construction industry contributing approximately 8.6 per cent to Calgary’s GDP, the number of projects being built is very healthy for our city, our economy and the future of Calgary,” said Stuart Dalgleish, general manager of planning and development services, in a news release.

By the numbers:

• More than 4,800 building permits were issued between January and April, a decrease of 14 per cent from the same period last year. However, construction value has increased by six per cent.
• For commercial, industrial, institutional and multi-residential projects between January and April, 1,327 permits were issued, an eight per cent decrease.
• More than 2,860 permits for residential improvement projects were submitted, representing a seven per cent decrease.
• New home construction also saw a 27 per cent decrease in permit applications but apartment building construction saw a 170 per cent increase to $293 million in Q1 2023.