Construction continues for Nvision’s five-storey, 95-unit rental building at 433 Boleskine Rd. in Saanich. Travis Paterson/News Staff

Island building boom picks up the pace

Construction activity in the CRD up 47 per cent over first quarter of the year

Construction activity on Vancouver Island continued at a hectic pace during the April to June period with the total value of building permits issued reaching $806.9 million – a 42 per cent gain over the first quarter of 2018.

“We’ve had a very busy year so far which is a sign of economic strength and an upswing in population growth,” said Rory Kulmala, CEO of the Vancouver Island Construction Association (VICA). “Vancouver Island continues to be an attractive place to live and to invest.”

The highest growth on the Island was in the Nanaimo Regional District which saw a 48 per cent increase in the dollar value of building permits, followed by the Capital Regional District with a 47 per cent increase over the first quarter.

Total spending on residential construction spiked 45 per cent Island-wide to $698.2 million while non-residential building construction increased 23 per cent to $108.6 million. Total investment spending on non-residential building construction in the Victoria Census Metropolitan Area (CMA) increased one per cent in the quarter but was up 16 per cent in the first half over the same period last year.

Non-residential building construction costs slowed in the quarter, increasing by just 0.1 per cent to $119.6 million.

Construction employment increased by 8.6 per cent Island-wide in the first half of 2018. Victoria led the way with 1,800 more workers on the job in the second quarter.

The Major Projects Inventory recorded a three per cent increase in the quarter to $60.6 billion. Kulmala pointed to projects in the works, including Union Bay Estates in the Comox Valley: a proposed 346-hectare residential and resort development with 2,949 mixed residential units, two hotels, 375,000 sq. ft. of commercial space, and a marina, to be developed over 20 years.

More housing and non-residential construction is also on the way.

“By the end of 2018, I think we’ll see total building permits increase by about 20 per cent with construction employment up another three per cent or more,” Kulmala said.

editor@saanichnews.com

 

Construction continues for Nvision’s five-storey, 95-unit rental building at 433 Boleskine Rd. in Saanich. Travis Paterson/News Staff

Just Posted

BC Ferries adds 170 extra sailings for the holidays

6 a.m. and 10 p.m. sailings added for busy season

Judge’s decision set for January in dangerous driving trial for crash that left Saanich girl unresponsive

Tenessa Nikirk is charged with one count of dangerous driving after Leila Bui was struck in 2017

Save-On-Foods stocks the pantry at Jeneece Place

Grocer donates groceries, gift cards, to Greater Victoria facility each winter

Victoria residents divided over changing school name due to its racist history

50 per cent of survey respondents favour changing name of George Jay Elementary

Oak Bay sees spike in thefts, drunk driving

Honda scooter, double-stroller, 2006 minivan and brass propellers all stolen

Truck with body inside found at bottom of lake near Kootenay ferry

Investigators believe no foul play is expected but are unsure how the vehicle ended up in the Arrow Lakes

VIDEO: Calgary man narrowly escapes from avalanche while running at Lake Louise

Bryon Howard caught the entire wild experience on camera

PHOTOS: Competitive Christmas light display takes sarcastic turn in Princeton

Heather King of Princeton took a creative and stress-free approach to her holiday display this year

RCMP asks Kootenay cannabis shop to remove image of famous Mountie from storefront

Owner happy to comply with RCMP, but wants more information first

Anti-money laundering agency warns casinos to watch gamers playing with bank drafts

Financial Transactions and Reports Analysis Centre of Canada, known as Fintrac, issues operational alert

Strata rental bans escape B.C. speculation tax through 2021, Carole James says

Vacant home tax won’t apply to cabins accessible only by water

Most Read