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City of Thunder Bay issued permits for nearly $160M worth of construction in 2022

The value of new construction is the highest in at least the last seven years, but far below the record
(File photo)

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