Riverview: A great place to… call home

Riverview (N.B.) – The Town of Riverview is pleased to announce that building permit valuations have doubled compared to the same period in 2023.

To date, the Town has allocated 115 building permits totaling over $52 million in value. This marks a 37% increase in the number of permits allocated, and more than double the valuation compared to the same period last year, which totaled just over $25 million by the end of July. The year 2023 ended with $33 million realized in overall building permit value, and Riverview has already surpassed this achievement only seven months into this year. The main driver of building activity in the first two quarters of 2024 was residential projects, with permits issued for 281 new housing units since the start of the year.

Riverview’s resident profile is evolving and now includes more newcomer families, senior residents, and millennial first-time homebuyers. Varied housing typologies are being built by the development community in response to the changing needs of residents such as multi-unit dwellings (206), semi-detached dwellings and duplexes (30), single unit dwellings (19), accessory unit dwellings (17), town and row houses (8), and mini homes (1), for a total of 281 units under construction year to date. The Town is also taking active steps to enhance the market conditions affecting unprecedented housing-demand levels, including drafting new economic development grant initiatives and providing insights on the opportunities that exist in the realm of residential development. Efficient processing of building permits and providing guidance on building requirements and zoning considerations are some of the other ways the Town helps streamline development.

“Riverview is experiencing a record year for new construction. The local development community is showing strong interest in addressing the ongoing housing shortage. We are seeing a range of interesting projects come forward, such as new townhouse development, infill multi-unit residential projects — including the redevelopment of the Town's former Public Works site — and accessory dwelling units (in-law suites) in lower-density residential areas,” says Kirk Brewer, the Town’s Senior Planner. “These development trends will help inform the Town's future vision for development as we are currently working to update the Municipal Plan and Zoning By-law.”

International, interprovincial, and intraprovincial migration trends remain key drivers of growth in census metropolitan areas (CMAs). Being within one of the fastest-growing CMAs in Canada, Riverview offers a unique blend of urban and rural features. This rapid growth puts pressure on the existing housing market, which drives up prices, and makes home accessibility a challenge for residents both new and existing. Luckily, developers are responding well to this challenge of supplying residents with more homes that fit their needs, a trend observable in major residential projects recently supported by the Town.  

“The critical need for all housing types in Riverview shows that our town is a highly-sought-after community to call home. These developments showcase the strength of the local market in supporting our growing population’s infrastructure needs. Seeing the building permit valuations double compared to this time last year is a testament to the community strength and engagement that is fostered here in Riverview,” says Mayor Andrew J. LeBlanc.

Construction activity is expected to continue to expand across sectors for the remainder of the year due to the heightened housing demand. This strong start to the year is a testament to Riverview’s community development efforts, offering a home for multiple generations while warmly welcoming new residents.