Expansions, million-dollar homes drive construction.North Bay's vibrant home building market may be plateauing plateauing Sports medicine A weight training term for the point above which an anabolic drug becomes ineffective in increasing muscle mass. See Anabolic steroids, Weight training. , but the overall construction sector remained strong in 2005 with a record setting year in home starts and huge potential ahead for 2006. Residential housing starts still dominated the local market last year, but retail and commercial development may be on the rise, says Shawn Killins, the City of North Bay's chief building official. A great financing environment and an improving local economy has placed North Bay's construction on an up-cycle for the last two years. In 2004, North Bay posted an all-time record of $71.3 million worth of building permits, mostly in home construction, with 115 single-family and semi-detached dwellings started. This past year, the city took in $59,254,000 with 110 single-family detached house starts and 118 new homes overall, "an all-time record," says Killins. Residential construction made up $30 million of the $59 million recorded. "It was a pretty unique year. Developers did their share of construction putting up 20 houses on spec On Spec is a digest-sized, perfect-bound, Canadian quarterly magazine publishing stories and poetry in science fiction, fantasy, and allied genres. It started publishing in 1989, and is based in Edmonton, Alberta. , but most houses were pre-sold," says Killins. "There were a lot of private individuals putting up their own homes. Some (newcomers), but by and large it was mostly people moving up (in the housing market)." Most of the activity took place in the Maple Hill and Airport Hill subdivisions where there are upscale homes, a few in the million dollar range, on the ridge overlooking the city and Lake Nipissing Lake Nipissing (French: lac Nipissing) is a lake in the Canadian province of Ontario. It is km ( sq mi) in surface area, has a mean elevation of m ( ft) above sea level and is located between the Ottawa River and Georgian Bay. and beyond. [ILLUSTRATION OMITTED] Commercially and institutionaly, Killins says, the overall results were "slightly disappointing" considering a large addition onto the Algonquin Secondary School didn't go off as planned when the proposed $10-million project came in over budget and went back to the architect's drawing board. "We fully expect it will happen this year." Marina Point, the $20-million Dalron Construction senior's development on the city's waterfront has broken ground. Killins says the city was able to issue only a stage permit with $6 million in foundation work and some masonry masonry: see brick; concrete; stonework; tile. masonry Craft of building in stone, brick, or block. By 4000 BC, Egypt had developed an elaborate cut-stone technique. work done. Another $12 million will be done in 2006 with the complex scheduled to open next year. For this year, the city has budgeted $65 million in construction aided by the upcoming work on a $45-million water treatment plant and some expansion of local businesses, including a $20-million expansion at Seymour Windows and new retailers such as Boston Pizza  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . . A 124-unit condominium-town house development is being proposed by Toronto's Taki Investments on Trout Lake Trout Lake may refer to:
"We don't expect 2006 to be as high," says Killins. "There's going to be a general flattening
The flattening, ellipticity, or oblateness of an oblate spheroid is the "squashing" of the spheroid's pole, down towards its equator. out of residential starts across the province. "I've talked to the home builders, draftsmen and architects and it's going to be another healthy year. I doubt it'll exceed 100 starts but we're estimating somewhere in the 75 to 80 range." North Bay usually averages about 60 home starts a year. City officials are still awaiting word from the Ontario government on the largest single construction project in North Bay's history. Tenders are expected to go out this spring for the North Bay Regional Health Centre, a $200-million to $300-million project expected to be financed through the province's Alternative Financing Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. process. www.city.north-bay.on.ca By IAN ROSS Ian Ross is the name of:
Northern Ontario Business Northern Ontario Business is a Canadian magazine, which publishes monthly in Greater Sudbury, Ontario. The magazine covers business news and issues in Northern Ontario. |
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