Construction in British Columbia defies recession blues
The economic downturn might be lingering on, but you would never know it in British Columbia. The B.C. Ministe...
The economic downturn might be lingering on, but you would never know it in British Columbia. The B.C. Minister of Small Business, Technology and Economic Development reports that the value of major construction projects planned or under way during July-September 2009 set a record for the 20th time in a row. The capital cost of all major projects listed under construction in B.C. was $63.1 billion.
Minister Iain Black said that as at September 2009 there were 882 large-scale construction projects planned or under way, worth an estimated $189 billion. This represents an 8% increase in value compared to the same period last year. Also, “the number of projects has nearly tripled since 2001 and their value has more than quadrupled.” Of the 882 projects, 495 projects were proposed — the highest level recorded.
Of the 19 projects that had started construction during the three month period, the largest was the $150-million Beasely residential tower in Vancouver, followed by the $141-million Okanagan Transmission Reinforcement project in the Kelowna area.
33 projects had been completed at a cost of $3.8 billion, including the $2-billion Canada Line.
The inventory also identified projects that have been certified as sustainably designed. There were 86 projects designated under either the LEED or Green Globes programs.