BUSINESS

Record number of building permits issued amid Vancouver construction boom

The Canadian Press Published Wednesday, January 13, 2016 3:07PM EST

Vancouver officials say building permits issued in 2015 soared 14.6 per cent over the year earlier and was up 105 per cent compared with 2008.

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VANCOUVER - The number of building permits issued by the City of Vancouver has reached an all-time record.

City officials say permits issued in 2015 soared 14.6 per cent over the year earlier and was up 105 per cent compared with 2008.

Value of the permits issued last year has been pegged at $3.2-billion.

According to the city, 10 major construction projects valued at more than $50-million were approved in 2015, including a 52-storey downtown highrise valued at $279-million.

More than 300 permits were issued with a value greater than $1-million.

Vancouver Mayor Gregor Robertson is upbeat about the construction boom saying the record-setting pace provides optimism about the future of the city's economy.