Compared with recent years, 2022 has seen an encouraging number of new construction projects started in Thunder Bay.
According to data released by the city's Building Services Division, the construction value of projects that it issued permits for this year totalled just over $158 million as of Dec. 20.
That's the highest in at least the last seven years and more than double the value of projects that were permitted in 2020, the first year of the COVID-19 pandemic. It's far off the record of $230 million in 2011, but city officials will be hoping the upward trend over the past two years continues because new buildings can lead to increased assessment and more property tax revenue for the city.
They expressed concern last January during council's budget deliberations that the commercial assessment class is shrinking "due to very little construction activity."
Construction value of building permits issued by the City of Thunder Bay:
2022 – $158,077,880
2021 – $141,708,887
2020 – $77,828,144
2019 – $156,976,084
2018 – $84,227,293
2017 – $143,390,427
2016 – $93,774,383
The five highest-value projects started in 2022 were a 90-suite hotel on Arthur Street West, a 40-unit apartment building on Kingsway, a new location for Performance Kia on Central Avenue, a gymnasium addition at the Matawa Education & Care Centre on Lillie Street, and a new airplane hangar at Thunder Bay Airport.
- TBNewsWatch
