Development boom towers over New Westminster riverfrontJuly 12, 2017 11:26 am
The City of New Westminster is averaging more than 50 new building permits every month this year, on a pace to edge out the $189 million in permits issued in 2016, the 10th straight year the Royal City has topped $100 million in permit values.
As of the end of May, permit values had already eclipsed $144.5 million, and housing starts, at 612 units, were far ahead of the 339 starts in the same period last year.
“If the pace holds,  will work out to a 12.7% increase from the previous year,” said Blair Fryer, communications and development manager for the city of 71,000 on the banks of the Fraser River.
There is little doubt the pace will hold up.
Categorized in: Western Investor