Fredericton sees $257 million in development activity in 2022

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The City of Fredericton says it issued building permits for over $257 million in construction activity in 2022.

Officials say new residential developments were valued at $166 million, while commercial, government and institutional construction was valued at $90 million.

Nine-hundred and thirty-eight new housing units were permitted for construction, including 767 new apartment and townhouse units, and 171 single detached homes.

Government says the total value of construction last year was well above the 5- and 10-year averages of $181 million and $140 million respectively, and surpassed activity in 2021 by over $70 million.