THUNDER BAY — A surge in construction and new build permits shows Thunder Bay’s potential for growth, says a city official.
The city is looking to hit “new modern records by the end of the year” for permitting construction projects, said Joel DePeuter, director of development services in an interview.
He said 300 permits have been issued by the city this already year. The value of building permits hit $123 million by the end of April, up nearly 75 per cent compared to the same period last year.
Housing permits are up 43 per cent compared to the first quarter of 2024.
Another $60 million in building permit applications are currently under review.
The largest of those, said DePeuter, is the new cardio wing at the Thunder Bay Regional Health Sciences Centre,.
A $7 million permit for building upgrades and the Victoriaville Mall demolition is also under review.
“We are not yet at the busy season. The busy permit season is during the summer, getting into October and November,” said DePeuter.
Some of the key projects slated for development are:
- A $7.5 million 18-unit apartment building on Algoma Street
- A $16 million warehouse in Innova Park
- $1 million in renovation at the former Lowe’s at Intercity Shopping Centre
- A $1.6 million addition to the large hangar at the Thunder Bay Airport
“The numbers show that Thunder Bay is growing," said DePeuter.
"I think that growth is accelerating. I think Thunder Bay has a number of factors that create advantages. The housing accelerator fund is certainly doing what was intended."
"Thunder Bay is a very affordable place to live. It does not have development charges, which is unique to Thunder Bay. This is something that's a large upfront cost to developers elsewhere," he said.
The housing accelerator and building faster funds supported over $8 million in grants, paving the way for more than 450 new homes in the city, according to a city news release.
"Thunder Bay is experiencing a remarkable transformation. We are seeing real results from our strategic efforts” said Mayor Ken Boshcoff in the release. “But this isn’t just about construction, it’s about building a stronger, more vibrant community, one that is growing, thriving and attracting new residents, businesses, and long-term opportunities."
