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Construction growth strong
First quarter construction statistics for Campbell River show strong growth in new single-family home starts – up 14 per cent over the strong first quarter in 2013.
This represents 32 permits, compared to 14 permits each for Courtenay and Comox Valley Regional District.
“Growth in the land development market has continued as a result of a strong investment climate, modest development costs, changes to streamline the City of Campbell River’s development application processes and the attractive quality of life in our community,” says Ross Blackwell, the city’s land use services manager. “Market opportunity continues to be strong in both the residential and commercial sectors, and interest in local land development is expected to remain that way, particularly with new growth related to the construction of the new hospital.”
“This is more good news for Campbell River – and a reflection of how desirable our community is to live, work and do business,” says Ron Neufeld, deputy city manager. “The City continues to promote investment in our community as we work to maintain our outstanding quality of life here.”
- The value of residential and commercial construction in Campbell River topped $101 million in 2013.
- While 262 permits in 2013 was only a minor increase over 2012, the value of that construction was up by 73 per cent – nearly double the $59 million in 2012.
- Major builds from the Berwick residential project, Seymour Pacific head office, and the new downtown hotel with several other major projects, drove the construction value increase.
- The number of building permits for single-family homes increased by 19 per cent (to 133 in 2013 from 112 in 2012).
- Commercial construction value grew by 45 per cent.
- Multi-family residential value increased by 43 per cent over 2012.