Image of the day: housing permits in Moncton
Deny Sullivan: Moncton has increased permits 5X
Deny Sullivan, Nobody's done it like Moncton. Moncton is building a lot more apartments, not just single-family homes.
How is this surge made possible? I can see a couple factors. First, fast timelines. A 2024 study from the Altus Group shows that while a builder could waste 2 years applying for permits in Toronto, in Moncton that’s about 2 months.
Then, with permits in hand, Toronto wants $134,000 per unit in fees and taxes for the pleasure of building homes. In Moncton? It’s only $1,600. Near zero municipal fees on housing make many more projects viable - and those projects are happening.
Moncton is issuing permits at a much faster rate than either Vancouver or Toronto:
Article by John DeMont: "Moncton's an apartment building powerhouse. Why isn't Halifax?" https://www.saltwire.com/nova-scotia/halifax/opinion-halifax/apartment-building-housing-infrastructure-city-demont