The mid year development update was just presented at this month's economic vitality committee meeting:
https://pub-fredericton.escribemeeti...cumentId=16894
Some highlights:
- Huge $248.7M total in development activity is driven largely by the building permits for the completing the courthouse and the new performing arts centre.
- $29.6M in commercial development is the highest in five years and the new retail development on Two Nations was highlighted.
- $65.7M in residential development is a bit below the five year average of $69M.
- 69 single detached housing starts which is between the number in 2022 and 2023.
- 200 multiple unit starts is the lowest since 2019 - hopefully this will pick up in the last half of the year
- One of the residential projects highlighted was the 51 unit apartment building on Wallace between the trail and KFC. I think they said that this building will have 20-25 income geared affordable units.
- The 53-unit building being built on Bishop was highlighted as the first project to fall under the new workforce housing zoning.