Value of HRM development permits still climbing

Release:

(September 30, 2011) Halifax – The total value of development permits issued by the Halifax Regional Municipality is up almost $60 million over this time last year, Mayor Peter Kelly announced today.

To the end of September, HRM had issued permits totaling almost $596,000,000 compared to $536,000,000 last year. Mayor Kelly said the commercial and residential sectors continued to be the drivers of HRM’s ongoing development expansion.

At $157,000,000, the total value of permits for commercial enterprises was up 50% over last year’s $102,000,000 while the residential sector was showing a gain of more than 6% with permits worth $393,000,000 issued so far this year compared to $370,000,000 last year.

“We are seeing increasing private-sector confidence in our community,” Mayor Kelly said. “I am optimistic that our local economy will continue to grow and further solidify HRM’s long-held position as the hub of the region.”

Last year, HRM issued development permits totaling almost $780,000,000 and Mayor Kelly said he believed that figure would be surpassed, this year.