2022 is another record building year in North Bay.
Mayor Al McDonald announced $204 million in building permits in the first nine months of the year.
That brings the council’s total for this term to more than $510 million.
He says council, city staff and their community partners have all come together to make this happen.
“Half a billion dollars in construction over the last four years, I think, instills a lot of confidence that if people want to invest in the city of North Bay, (then) people invest here and I think that’s a good thing,” McDonald said. said.
He also points out all the benefits of opening new businesses, like the new Burger King restaurant on Lakeshore Drive.
“What it shows is that these multi-billion dollar companies are looking at North Bay and saying ‘we’re going to spend a million dollars in North Bay because they’re growing,'” McDonald says. “It’s not just the jobs, it’s not just that we have another restaurant, we also have $50,000 more in tax revenue.”
Given the pent-up demand for serviced residential, commercial and industrial land, McDonald’s expects the trend to continue into next year.
He also hopes the moratorium on residential development charges will continue with the next council.
“We need to send this strong message to home builders, we’re not going to add that $10,000 to a new home, you build it and our citizens will benefit,” McDonald says.
Construction values 2022:
– 125 million institutional dollars
– $45.5 million residential (112 new units in total)
– 14.6 million commercial dollars
– 17 million industrial dollars
– Various projects of 2 million dollars
The previous all-time record for building permits, $150 million, was set last year.