July 19, 2024

Advancing Business Excellence

Pioneering Corporate Success

Lethbridge’s construction industry optimistic for 2024


Lethbridge is continuing to grow as a city, with residential, commercial and industrial construction projects totalling $287.9 million in 2023.

“We have seen a little bit of a slow down in our low-density housing so single-detached and duplexes and that sort of thing,” said Maureen Gaehring, general manager of planning and design with the City of Lethbridge.

“But we are seeing multi-family starts so we do have some apartment buildings that have been built, continued investment in our industrial area.”

The City of Lethbridge approved 1,328 development permits in 2023. Nearly 31 per cent of permits were approved on the same day, with 32.2 per cent within one to three days and 25.5 per cent within four to 10 days.

“One of the things with the size of our city, we have a pretty integrated approval process,” Gaehring added.

“So, with all of the departments within infrastructure, we communicate quite a bit, and I think that helps to speed along the process.”

Point2Homes compared the prices of a single-family home for 2022 and 2023. In Lethbridge, a house sold for an average of $415,603 in 2023 – an increase of 12.5 per cent compared to 2022.

Building Industry and Land Development Association (BILD) executive officer Bridget Mearns says the amount of home builds in the city was on par with previous years.

“The housing starts were done in 2023 compared to other previous years and we’ve noticed that over the last number of years, but it was still a healthy year,” Mearns said.

She says with the industry continuing to grow, so too is the job market, with roughly 3,500 people employed in construction-related jobs in Lethbridge.

With interest rates still high, those in the industry are hopeful for the remainder of 2024.

“We’re very optimistic coming into 2024,” Mearns said. “We’re feeling some optimism around consumer confidence, we’re seeing migration to our city. We’re seeing people coming in from Calgary and even other provinces to take advantage of what Lethbridge has to offer, including affordable housing.”

“We’re starting to see some real activity back in the market, that’s promising.”

All areas of the city saw growth last year, including the downtown. The Downtown Lethbridge Business Revitalization Zone (BRZ) saw 23 businesses either open or expand their operations in 2023.