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More than $100 million in new construction in Campbell River in 2013
The value of residential and commercial construction in Campbell River topped $101 million in 2013.
“While the overall tally of 262 permits last year is only a minor increase over 2012, the value of that construction was up by 73 per cent,” says Ross Blackwell, the City’s land use services manager. “That’s nearly double the $59 million in 2012.”
In 2006, Campbell River had a record-breaking year, with construction values at $115 million.
“Growth in the land development industry has been expected as a result of a strong investment climate, changes to streamline the City of Campbell River’s development application processes and the attractive quality of life in our community,” Blackwell says.
Most of the year was very busy with development applications, and with the holiday season, inquiries to the City’s land use department slowed down somewhat.
“Although it is difficult to predict what the statistics will look like in 2014, we are expecting another strong year with a number of expected projects and investment interest related to the construction of the new hospital,” Blackwell adds. “Considerable market opportunity remains in both the residential and commercial sectors. We can expect this to lead to continued development activity as investors capitalize on this opportunity in Campbell River.”