Construction values up big in Tecumseh over first six months of the year
The most recent Six Month Activity Permit Report submitted to Tecumseh council this week shows a big apartment building boost in construction value.
The report summarizes the permits issued for the first six months of 2021, and construction value was reported at $54,205,909, which is up by $46,255,814 or 581 percent over last year.
Mayor Gary McNamara says it's tremendous to see.
"It also shows how important that putting rental units in our community is. Where folks have realized that was one part of the housing requirements that was lacking. Very encouraged certainly with those numbers."
The boost is due in part to the construction of two multi-storey apartment buildings that have a combined value of $28,000,000 and an industrial/office building with a value of $5,600,000.
McNamara says this is only for half of the year, so they're expecting the trend to continue.
"I would surmize by the end of the 3rd and 4th quarter we're seeing even more activity coming up," he continued. "And 2022 is also looking very positive as well."
He says the high prices of homes within our region is for some becoming unattainable.
"So, it's important for us to continue to add to the mix of housing in our community to deal with obviously the high demand."
McNamara says it's not just in Tecumseh, it's all across the region where there's been a tremendous demand and need for more housing.
He's expecting that demand will continue into 2022, and they'll be encouraging their developers to continue to build on the successes of the previous 18 months
- with files from Rob Hindi