An expansion of BC Children's Hospital is behind a huge spike in building permits seen in the City of Vancouver in the fall of 2014.
In October, building permits in the City of Vancouver surged 65% compared to the previous month.
The city says “key developments” contributed to a 28% total increase in building permits in 2014 compared to 2013. The biggest project by far was the expansion of BC Children’s Hospital, with a construction value of $287 million. Building permits for that project were issued in October, as were permits for Westbank’s Kensington Gardens residential project ($65 million construction value).
Also on the city’s list were Onni’s Charleson residential tower (construction value of $46 million); a new building at Langara College ($46 million); and a rental building on Main and East Georgia by developer Bosa ($27 million).
In a December 12 note, Bryan Yu, an economist with Central 1 Credit Union, said the sharp spike in permits “was project specific and unlikely to repeat.” He noted that the expansion of BC Children’s and Women’s Hospital has a total project value of $680 million.
