Calgary's Construction Surge: Building a Path to Growth

Calgary's construction sector is booming, with building permit values reaching new heights. In 2024, Calgary issued permits totaling approximately $7.2 billion, representing an 18.9% increase from the previous year. Residential permits made up around 65% of this value, driven by a 25% rise in permit issuance compared to 2023, reflecting an urgent response to the housing demand of a rapidly growing population.

This construction upswing aligns with the city's proactive housing strategy aimed at addressing affordability concerns. With Calgary’s population now surpassing 1.6 million, these developments are crucial for expanding housing options. Despite the growth, a report by the CMHC indicates the city needs a 45% yearly increase in new homes to restore pre-pandemic affordability.

The city's strategic moves, including streamlined permitting processes, contribute to this boom. Yet, stakeholders like the Calgary Chamber of Commerce highlight ongoing affordability issues impacting workforce attraction. The Urban Development Institute emphasizes the need for efficient regulations, while community associations grow wary of the rapid multi-family developments’ impact on neighborhoods.

This Article Contains information licensed under the Open Government Licence – City of Calgary.