Unlocking Growth: Riverview Achieves Over $33 Million in Building Permits in 2023

Last year was a big one for development activity in New Brunswick’s largest town. Riverview allocated 145 total building permits, representing over $33 million invested in local residential, commercial, and institutional infrastructure. 

With the national housing crisis making headlines throughout 2023, Riverview responds to rising demand with its residential classification carrying the most weight in terms of permit activity, totaling over $22.8 million in residential inventory. 49 permits were awarded for new housing projects (valued at over $11 million), and an additional 11 permits were awarded for multi-residential projects (valued at over $11.8 million). Since 2018, more than 1,000 housing units were approved for building permits in Riverview, with almost 75% of these representing multi-residential units, townhouses, or rowhouses - a testament to the growing demand for varied housing types across the continuum in response to the Town’s changing demographic profile. 

“A recent Housing Needs Assessment and Affordable Housing Strategy presented to Council, predicted the share of dwellings in Riverview accounted for by apartments to increase in the coming years” explains Mayor Andrew J. LeBlanc. “As more newcomers choose to put down roots and raise families in town, we need to adapt and be open to evolving housing solutions if we are to continue to be a welcoming, sustainable, and thriving community.”  

Residential projects weren’t the only ones breaking ground last year. Commercial activity achieved new heights with 2023 building permit values nearly tripling those of 2022. Having achieved over $9.2 million in overall value over 10 building permits, it’s safe to say Riverview is open for business.  

“We know Riverview is a prime location for small and medium enterprises, as the town is home to over 1,000 registered entrepreneurs and businesses,” expresses the Town’s Chief Administrative Officer, Colin Smith. “We’re a small town with big opportunities; some of the most highly demanded industries identified for Riverview through our recent research are healthcare services, restaurants and coffee shops, and tourism accommodations. We hope to see the local business community seize these prospects.” 

Looking ahead, construction activity is predicted to continue expanding across a multitude of sectors due to heightened housing and industry demand fueled by rapid growth. The Town’s economic development, urban planning, and community engagement resources are in place to assist with development and expansion plans, and we look forward to working with entrepreneurs and developers to explore these opportunities in 2024 to continue to meet the needs of our residents and visitors.