Strong Second & Third Quarters For Development And Construction Values In Cranbrook In 2023

Cranbrook, BC (January 25, 2024) – Just over $38.4 million dollars in total construction value was reported to have occurred in the City of Cranbrook over the course of 2023, with a total of 198 building permits issued during that time. Administration provided Council an overview of both construction values and development permit figures for 2023, at Council’s regular meeting on Monday, January 22, 2024. The breakdown by quarter is reported as follows:

Quarter # Of Permits Issued Total Construction Value
• 1st Quarter (January – March 2023) 47 $7.3 million
• 2nd Quarter (April – June 2023) 46 $11.1 million
• 3rd Quarter (July – September 2023) 53 $11 million
• 4th Quarter (October – December 2023) 52 $9 million

“Based on the number of subdivision approval applications we received in 2023, I am optimistic that we will see an increase in housing development,” says Mayor Wayne Price. “We should also see a number of high density residential projects, which are now in the permit stages, commence this building season.” A total of 21 single family dwelling starts, and 8 mobile home placements were reported over the year, helping to add to the City’s housing inventory. Several significant building and renovation projects were also on the books for 2023 including:

• Superstore interior alterations for construction value of $800,000.00
• Substantial renovation @ 32 – 9th Avenue South to accommodate the future Ktunaxa Nation Council Health Centre for a value of $2.57 million.
• New Odor Control building serving Shadow Mountain Sewer line extension valued at $1.58 million.
• $1.3 million renovation to 6th Street North Plaza (beside 7-Eleven) for future relocation of Symmetry Dental
• Demolition and subsequent new construction of a two-story infill unit including façade upgrades to the Furniture Store along Baker Street (Hush Home Furnishings) for a value of $1.2 million.
• 3 City of Cranbrook permits: Elizabeth Lake Viewing Platform; Elizabeth Lake Picnic Shelter; and the replacement of the Balment Stairs.
• Renovation of the former Harley Davidson Dealership for the new CENTEX gas & convenience store on Cranbrook Street valued at $800k.
• Bank of Montreal modernization renovation valued at $1.8 million.
• An Overflow Shop serving the Nissan dealership for a value of $845k.
• Renovation of Staff Area for the ER Department at the East Kootenay Regional Hospital for a construction value of $455k.
• A building permit issued for the roof system upgrades to the Memorial Arena for a construction value of approx. $2.9 million.

“We are excited to see the continued investment in residential housing, commercial, and industrial properties throughout the City. Our building and business community deserve a lot of credit,” says Mike Matjeka, Director of Engineering and Development Services. “2024 is shaping up to see continued growth, with the City placing a strong focus on adding to the housing inventory with the potential creation of over 150 new lots as well as two new apartment buildings looking to break ground with an additional 146 units.”