Caribou achieved record housing starts and major project activities in 2021. TheCanadianBusinessJournal

According to Prince George, British Columbia, March 16, 2022 (GLOBE NEWSWIRE) — BC Checkup: InvestmentIn an annual report on investment trends across the state by the British Columbia Certified Professional Accountant (CPABC), the number of housing units that began construction in the three largest municipalities in the Cariboo region was 61.2% compared to the number in 2021. Increased. In 2020.

KPMG Canada’s partners Corey Naphtali, CPA and CA said: “Housing investors launched a record number of housing units in 2021, and Quesnel showed exceptional year-over-year growth. This investment was driven by strong demand and rising home prices.”

In total, 803 homes were built in 2021 at Williams Lake, Prince George and Quesnel, up from 498 in 2020. Quesnel (up 457.1%), Williams Lake 21 (down 16.0%).

The increase in housing starts was the strongest among the attached units such as condominiums, town homes, and apartments. In total, 534 connectivity units were launched across the region in 2021, well above the 277 launched in 2020. In 2021, there was a start of separation of 269, an increase of 21.7% compared to 2020.

“In 2021, the number of ancillary units under construction almost doubled, accounting for about two-thirds of all launches, resulting in a significant increase in housing development across multiple units,” Naphtali continued. I did. “The region also benefited from a significant increase in investment in major projects, especially related to resource and infrastructure development.”

Caribou’s major capital projects totaled $ 16.8 billion in the third quarter of 2021, an increase of 9.8% compared to the third quarter of 2020. Of the total, $ 4.7 billion (28.1%) were projects under construction, including two projects launched in 2021. , West Fraser Road Realignment ($ 103 million) and Highway 97 intersection upgrade ($ 19 million). The largest project was the $ 4.5 billion Trans Mountain pipeline expansion.

Caribou also has 23 major projects in the proposal phase, with an estimated cost of $ 11.8 billion and will begin construction over the next two years, including the Balmount Glacier Resort ($ 800 million) and the UHNBC Patient Care Tower ($ 600 million). There are several projects you can do. In addition, a new proposal for the Caribou Gold Project ($ 900 million) was announced in 2021.

“Caribou is fortunate to have a number of major projects underway or expected to begin in the short term, including recreation, natural resources and healthcare projects, and transportation infrastructure.” Naphtali concluded. “In addition, significant housing investment in Prince George set a record for the value of building permits in 2021. Upcoming construction, both residential and non-residential projects, will accelerate the region’s economic recovery. I will call. “

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About CPA British Columbia
British Columbia Certified Accountants (CPABC) is a training, governance, and regulatory body for over 38,000 CPA members and 6,000 CPA students. CPABC fulfills its primary mission of protecting its people by implementing the highest professional and ethical standards and contributing to the advancement of public policy. CPA is internationally recognized for bringing superior financial expertise, strategic thinking, business insights, and leadership to the organization.

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Caribou achieved record housing starts and major project activities in 2021. TheCanadianBusinessJournal

Source link Caribou achieved record housing starts and major project activities in 2021. TheCanadianBusinessJournal

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