Courtenay Annual Report 2025 draft

Construction value Residential construction value increased in 2025, rebounding from the lowest level recorded in the past five years. While activity improved, residential construction value remained below the five-year average, following an all-time high in 2023.

Commercial construction value declined slightly from 2024 levels but continued to exceed the five-year average. This sustained level of investment reflects ongoing confidence in Courtenay’s commercial sector and continued development of local employment and service spaces.

North Island College student housing construction

2021

2022

2023

2024

2025

Residential construction

$126,702,940 $146,720,522 $ 190,526,817

$50,916,699

$92,449,650

Congregate care construction

0

0

0

0

0

Commercial construction

$26,499,091 $23,988,325

$22,646,134 $37,274,561

$33,278,367

Industrial construction

$500,000

$12,000

$380,000

$290,000

$56,200

Institutional construction

$1,644,000

$1,807,720

$150,000

0

0

Total value of construction

$155,346,032 $172,528,567 $213,702,951 $88,481,260

$125,784,217

2025 Annual Report | 29