PRINCE GEORGE, B.C. – Business is booming in Prince George, B.C.
City officials announced building permit values and the number of permits issued increased nearly 20 per cent in 2019 over 2018 numbers.
The final months of the year pushed values into record breaking territory. In November, the city announced that permit values had already reached $193.76 million, surpassing the previous all-time one-year high of $186.38 million achieved in 2018. However, the months of November and December added more than $30 million to the total to reach $223.11 million – a percentage increase of about 20 percent over the preceding year. In addition, the total number of building permits issued in 2019 reached an all-time high of 611, up nearly 20 percent from the 515 issued in 2018.
The total value includes another record-breaking number: $206.4 million of private sector investment, which is about 93 per cent of the total permit values for the year. Strikingly, the number of new multi-family permits more than doubled from 33 in 2018 to 72 in 2019.
“Council is extremely pleased to see these important economic indicators for Prince George are continuing to trend upward,” says Mayor Lyn Hall. “We are also very pleased that investors, businesses, and developers are recognizing the outstanding potential of our city.”
A few of the year’s most-valuable permits include:
The student housing development at 1404 Patricia Blvd. – Faction Projects inc – $13 million
The Fire Hall at 2012 Massey Drive – City of Prince George – $11.84 million
The hotel by Horizon North at 585 Dominion Street – Mundi SDR Development inc – $11.34 million.