It’s proof Regina’s housing sector continues to grow at an accelerated pace.
The value of residential building permits in 2016, including additions and renovations, eclipsed the $300 million mark. That’s about $80 million more than 2015. In terms of the number of housing units, there were 415 more year-over-year.
“Regina’s market is stable and getting stronger – and that is providing residents with a growing number of choices in the housing market,” Mayor Michael Fougere said in a news release. “We are steadily working towards our goal of 300,000 residents, and we are focused on growing in a smart, strategic, sustainable way. A strong housing market will go a long way as we continue to attract more people to Regina.”
However, commercial permits – both the number and value – were both down in 2016. A total of 621 permits were issued which valued $304 million. That’s a sharp $152 million drop from 2015 when 680 permits were issued.
Adding together both residential and commercial permits, 2016 saw $605 million worth of construction.
Building permits that were larger than $1 million over the last year included several schools and renovations or construction on multiple grocery stores.