Nanaimo’s construction sector continues to boom largely because of strong demand for multi-family housing in the growing city.
Last year’s building permit values reached $410 million, coming second to the previous record set in 2019.
Nanaimo’s population of approximately 100,000 is continuing to attract new resident. It is one of the fastest-growing cities in the country and second in population on Vancouver Island only to Saanich. The highest residential project by construction value among 2022 projects was 6020 Linley Valley Dr. at $29.52 million. It features two, five-storey and one, four-storey multi-family residential buildings with a total of 152 units.
“We have a significant amount of pre-zoned land in the community that people are taking advantage of and investing on and the need for rezoning has not been as significant.”“With more and more housing concentrated in areas where people can easily access shopping, services and employment, we are becoming a more vibrant urban centre.”
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