Media Release

Value of HRM development permits soaring in 2011

 

(August 17, 2011) Halifax – The total value of development permits issued so far this year by Halifax Regional Municipality has reached $487 million, an increase of more than $33 million over last year, Mayor Peter Kelly announced today.

According to the mayor, the key areas of commercial and residential development are both showing healthy gains. The value of commercial permits issued to mid-August has soared to more than $125 million; that’s an increase of more than $40 million over the same period last year. The value of all residential permits issued so far this year stands at $322 million up by more than $9 million over this time last year.

“These figures clearly demonstrate the solid confidence which the private sector has in our municipality’s economy,” Mayor Kelly said. “They also justify the optimism which Council and I, along with residents, have always had in the future of this region.”

The mayor noted that this year’s figures do not yet include any permits associated with the Nova Centre. The private development moved closer to reality Monday when the federal government announced it will join HRM and the province in funding the $159-million convention centre component.

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Contact:

Mayor Peter Kelly

490-4010