NEWS RELEASE
Impressive Decade of Development in HRM Bodes Well for Future
(January 28, 2010) Halifax - Total value of construction projects issued in Halifax Regional Municipality in 2009 was among the highest in recent years, capping an impressive decade of development activity which saw more than $6 billion invested in the area and the promise of more billions to come.
Last year, the municipality issued permits with a total value of more than $681 million, with residential construction jumping by more than $25 million over the previous year.
Mayor Peter Kelly called the numbers “a vote of confidence” in the municipality’s future and noted growth had been achieved, despite the difficult economic climate which exists today. He predicted the growth would continue in 2010 and quite likely exceed last year’s figures.
The Mayor pointed to a number of key initiatives undertaken by Regional Council last year which have made the municipality even more attractive to developers. These initiatives included: HRMbyDesign, a landmark urban design plan for downtown Halifax; a streamlining of the committee process; and the introduction of tracking software for development applications. These and other visionary decisions were welcomed by the Halifax Chamber of Commerce’s in its recently released 2010 Economic Scorecard.
“Bolstered by this strong history and armed with a clear Regional Plan and streamlined approval process, we continue to build on our successes in the years ahead,” he said.
Looking ahead, the Mayor noted a number of projects with a total anticipated value of just under $1 billion had either been approved but had yet to be issued permits, were pending or had commenced their process for Halifax peninsula.. Others of a combined similar value were on the horizon for the Dartmouth Waterfront, Burnside and Dartmouth Crossing. As well, he said, proposals with a total value of more than $1 billion were in the works for Ragged Lake and Bedford West.
Mayor Kelly said these and numerous other private and institutional projects waiting in the wings are vital additions to the municipality’s economic strength and social wellbeing. They translate into an infusion of new services and accommodations for residents and a welcome boost for the municipality’s tax base.
“As well, they represent a steady, solid expansion of the job base, something which will continue to keep our residents employed in the year ahead and hopefully entice back those whom we’ve lost over the years.”
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Mayor Peter Kelly
490-4010
