EDMONTON — What has $4.6 billion in building permits, including those for an NHL arena and a 62-storey skyscraper? Edmonton’s 2014 construction season.
As many people living in Edmonton — especially downtown — can attest, there was a lot of construction projects last year. The city says the amount of construction actually broke a record.
The city issued $4.6 billion worth of building permits, a 17 per cent increase from 2013 and a whopping 182 per cent increase over the five-year average.
READ MORE: Arena district sparking ‘historic’ development in Edmonton core
“This is further evidence that Edmonton has been leading the country in economic growth,” says Mayor Don Iveson.
“It’s a trend that fuels our progress as an attractive, vibrant and sustainable community that is a global magnet for people and investment.”
Several major projects downtown — many of which got their first phase building permits in 2014 — fuelled the boom, including Rogers Place Arena ($103 million phase one building permit), the Stantec office tower and condo building ($8 million phase one building permit), and the City of Edmonton office tower ($48 million phase one building permit).
READ MORE: Two 51-storey towers planned for Edmonton’s downtown
“These large-scale projects in the downtown core have created a surge in construction and will support continued activity in our city,” says Scott Mackie, branch manager of Current Planning.
READ MORE: Design unveiled for record setting 62-storey Edmonton tower
And, construction rates for 2015 are expected to continue in line with the five-year trend.
“The city already has commitments of over $1 billion in construction value for 2015 in downtown and other central areas,” says Mackie. “We expect these commitments will contribute to another active construction year.”
The city’s Current Planning Service Centre – which handles permitting and licensing – served 25 per cent more people than the year before.
Comments