Calgary issues $1.43 billion worth of construction permits in Q3
via Journal of Commerce by ConstructConnect
The construction industry in Calgary continued its upward climb this year with more than $1.4 billion worth of permits issued in Q3, states a recent news release.
“In spite of the global challenges we have collectively experienced in the last two years, investment in Calgary’s future continues to remain a priority for our construction industry and development remains a driving force in our community,” said manager of business and building safety approvals Ulrik Seward in the release.
Construction permits issued this quarter represent a 38 per cent increase from Q2. Approximately 5,101 permits were issued by the city.
Overall, the first nine months of 2022 saw a value of $4.62 billion, the third highest in the city’s history behind 2014 and 2021.
Residential improvement permits have slowed since last year but still represent a 10 per cent increase from pre-pandemic years. Commercial multi-family permits represent $1.13 billion of the Q3 value, according to the release.
The city received 423 building permits for secondary suites in Q3. More than 8,000 secondary suites have been legalized since the Secondary Suites Amnesty program began several years ago.
The city issued several occupancies for major projects such as a new $400 million Amazon warehouse called the Project Maverick Warehouse, a $78.5 million University of Calgary building called the Mackimmie Link & Block, and a $118.7 million multi-residential mixed-use development known as the West Village Towers among others.