Regina residential building permit values rise

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.