Construction of new buildings in Madawaska Valley is cooling, but signs of growth are on the horizon.
A council report shows the total value of all building permits between January and August of 2023 was about $11.3 million.
That’s down from about $13.2 million from the same reporting period a year ago.
The number of new homes built over the first three quarters of 2023 is 25, compared to 29 in the same period of last year.
But there are more renovations going on.
In the January to August period, there were 15 renovations to single-unit homes, with a total value of about $1 million. There were only 12, with a total value of about $582,000 in the same period a year ago.
The report was included in the agenda for the Sept. 6 council meeting, for information purposes only.
Luke Desjardins, Madawaska Valley’s Planning Manager, says he submits these reports to councillors so they can get a sense of economic growth.
He noted while construction is down, he is not too concerned, adding 25 new homes is “not far off” from the previous year’s total.
He says, by year end, he expects construction numbers to be similar to last year’s total, as he’s expecting new building permits to come in soon as part of the Chippawa Development, a subdivision that’s growing in the Kamaniskeg Lake area.