BC Major Projects Inventory
The BC Major Projects Inventory (MPI), published quarterly, provides summary information on major projects in the Province of British Columbia. The MPI includes a listing of private and public sector construction projects in B.C. with an estimated capital cost of $15 million (Can.) or greater (Read more...)
Highlights of the Q3 2016 Issue:
This issue of the B.C. Major Projects Inventory lists 36 new proposed projects over $15 million (M) for the third quarter of 2016, with available capital cost estimates totalling approximately $1.2 billion (B) in potential new capital investment, if all the projects proceed. In comparison, the total cost for new potential projects in the second quarter of 2016 was $716 M.
Twenty-five major projects started construction in the third quarter, with an estimated value of $1 B. Among the larger projects started are the $150 M Lower Lynn Interchange Improvement Project in North Vancouver and the $90 M Bremner/Trio Hydro Project near Harrison Hot Springs. In the second quarter of 2016 construction starts totalled $1.2 B.
Twenty-six projects completed construction in the third quarter, with an estimated capital cost of $2.2 B compared to $948 M in the second quarter. The largest project is the $372 M Marine Gateway Mixed Use Development in Vancouver, followed by the $225 M Supportive Housing Project in Vancouver.
All capital costs in this report are estimates and therefore subject to change. This is particularly applicable in the early stages of a project proposal. Some capital costs are not included because they were not available at press time or the developer or owner requested that no capital cost be shown.
The capital cost of all major projects currently under construction in B.C. is estimated at approximately $76.6 B, down slightly from the $77.8 B reported in the second quarter of 2016. Many major project proposals listed are in very preliminary stages and are not approved for construction, therefore capital cost estimates should be viewed with caution. The available capital cost of proposed projects is estimated at $325.4 B, down from $326.1 B in the previous quarter. Approximately $33.5 B of projects are judged to be ‘on hold’ for the time being, up from $34.2 B in the previous quarter.
Information to Readers
The Major Projects Inventory (MPI) is a listing of private and public sector construction projects in the Province of British Columbia.
The MPI lists construction projects in B.C. valued at $15 million or greater ($20 million or greater in the Lower Mainland) including a status category: Proposed, Under Construction, Completed, or On Hold. Project information is obtained from public and private information sources.
While effort is made to maintain a comprehensive project listing that includes the most current information, it is important to note that projects are constantly being added and re-evaluated by industry. Not all major projects are included in the MPI: Projects must be known to be included, and some project information is not published for reasons of confidentiality.
For more information on the BC Major Projects Inventory, please email: EconomicDevelopment@gov.bc.ca