MEDIA RELEASE (Nov. 9, 2016) Fort Erie’s residential building activity continues to make strides with another record setting quarter and a new benchmark being set. In Q3, the Town issued a remarkable 74 new dwelling permits, which is two more than the last quarter’s record setting volume. The value of the new residential construction for Q3 was also record setting.
“New residential construction value in Q3 finished just shy of $23 million, which is not only record setting but also absolutely amazing!” said Mayor Wayne Redekop. “When combined with Q2’s results, the new residential construction value for the past six months is a whopping $55 million. That is incredible. This has been a tremendous back-to-back quarter for Fort Erie’s residential growth.”
Similar to previous quarters, Ridgeway-Thunder Bay had the most activity of all neighbourhoods with 17 permits (23%) being issued. Additional neighbourhoods receiving permits in Q3 were Crystal Beach and Spears-High Pointe (15% each), Stevensville (14%) and Lakeshore (11%). According to Town records, the number of permits issued in Q3 is three times higher than the unit average of the past four years; thus, illustrating just how strong 2016 has been for new dwelling permits. As a result, Town Staff is making 2016’s results its new benchmark for future reporting.
“According to our records, we have not experienced this volume of residential growth within the past 20 years,” said Rick Brady, director of planning and development services. “The town is entering new territory with respect to new residential dwelling volumes. The final quarter will certainly mark a new high with respect to new home construction, both from an annual and quarterly perspective.”
Town staff report that within the past 20 years, 2008 was recorded as having the highest new dwelling permits with 167 permits issued in total. By the end of Q3, the Town has recorded a total of 165 permits issued in 2016. Based on this volume, Town staff is forecasting approximately 200 permits being issued by the end of 2016.
For more information about Fort Erie’s residential building activities for Q3, please visit www.forterie.ca or contact Chris Millar, Neighbourhood Planner at 905-871-1600 ext. 2503 or firstname.lastname@example.org.