Moncton issued $270M worth of building permits in 2024, down from previous years

The City of Moncton is reporting a significant surge in building permit activity for the second quarter of 2024. (Alana Pickrell/CTV News)

Moncton, N.B., issued $270 million worth of building permits in 2024, which was lower than the last three years.

In 2023, the City of Moncton spent $341 million on building permits, according to a previous news release. 2022 set an all-time record with $366 million on permits while 2021 saw $296.5 million.

In 2024, Moncton invested $150.7 million across 449 permits for residential developments, which resulted in the construction of 987 new residential units. 2023 saw 1,177 new residential units and 2022 had 1,285.

Moncton also spent $87.2 million on 164 commercial and industrial sector permits, which represented a 15 per cent increase over 2023’s $76 million.

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“This is the second-highest outcome on record for the City of Moncton, bested only by the $102 million achieved in 2021,” a news release reads.

Moncton invested $26 million on 65 other permits.

Major projects in 2024 included:

• $17.3 million for a 135-unit apartment building on Millenium Boulevard
• $15.9 million for a 129-unit complex on McLaughlin Drive
• $14.7 million for the construction of a warehouse on Desbrisay Avenue
• $4.4 million for excavation, ground works and site preparation for the Atlantic Science Centre project
• $1.2 million for the renovation of the kitchen at the Dr. Georges-L.-Dumont University Hospital Centre

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