The City of Steinbach approved over $16.6 million in building permits in March, including several large multi-family residential developments that signal strong local growth and developer confidence.
In total, permits were issued for 72 new residential units: five single or two-family homes and 67 units across multiple multi-family projects. The total residential project value for March came in at $13,324,892.50.
One of the most significant developments approved this past month is a 24-unit building worth $4.1 million, planned for 55 Market Boulevard in the northern part of the city. In the south end, a 15-unit building valued at $2.1 million is set for 206 Brandt Street. Meanwhile, two 10-unit buildings will be constructed at 593 Main Street, located at the corner of Main and Goosen Avenue.
In addition to the residential permits, the city also issued permits for commercial construction totalling $3.3 million.
Confidence in the community
Councillor Jake Hiebert described March as a "really good month" and said the value of permits reflects strong belief in Steinbach’s direction.
“It's just nice to see the confidence that people have in the economy today and also the confidence that our builders and developers have in the city of Steinbach,” he said.
Councillor Damian Penner said the focus shouldn't only be on dollar amounts, but on how these developments translate into homes for local families.
“If we have the developers... open up 72 new doors for families to be moving into our community, that’s no small feat,” Penner said. “The margins can be incredibly thin on [multi-family construction]. So for the developers to have the confidence, as Councillor Hiebert said, in the community and as well as the market to bring in homes that are generally at a more attainable entry level dollar amount, that's great to see.”
Heading for another strong year
Mayor Earl Funk echoed those comments and noted that the city’s year-to-date permit value now sits just under $25 million.
“It is a great month,” said Funk. “Just over 16 and a half million dollars of permits approved... it is showing us that we’re heading for another $100 million year. $100 million is a great year. So [it’s] looking really positive so far.”
Councillor Michael Zwaagstra added that March’s numbers demonstrate the growing demand for housing in Steinbach.
“We see substantial growth,” said Zwaagstra. “Most of that [permit value] is residential, and that is great to see... there’s a huge demand for housing in Steinbach, and we’re certainly happy to approve building permits of this magnitude.”