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Cranbrook, BC (September 21, 2026) – The City of Cranbrook has set a new development value record in 2026, with more than $300 million in building permits issued so far this year. In an administration update to Council at their regular meeting on Monday night, staff noted that as of September 9, 2026, the City has issued 140 building permits worth $309.8 million. That is more than three times the previous record of about $100 million, set in 2025.

The report also highlights building permit values by development type including:

•    Single family dwelling: $7,145,118
•    Medium density multi-family: $66,052,652
•    High density multi-family: $10,500,000
•    Commercial: $5,091,825
•    Industrial: $5,356,500
•    Institutional: $215,329,076

“The new housing and housing options coming on stream are especially good news. For the past four years, a lack of housing was a major concern for Council, business owners, and residents,” says Mayor Wayne Price. “With a significant variety of housing options including many low income and market rental units now being built or moving through approvals, that pressure is starting to ease, and housing is becoming much less of an issue for Cranbrook going forward.”

Meantime, Cranbrook is seeing its strongest wave of new purpose-built rental housing since the 1980s. This means more housing choices for people at different income levels and stages of life. Since 2022, hundreds of rental homes have been built or are moving through construction, approvals, and development. With several major projects now underway, the City expects strong housing numbers to continue through 2027.

Much of the development activity that moved through approvals and permitting in 2025 is now becoming visible across the city. Projects that were in the early stages last year are now under construction, with some nearing completion and starting to show the real results of that earlier investment.

While 2025 was a strong year for building permit values, 2026 is when that activity has become easy to see. As new homes, rental units, and neighbourhood projects move closer to completion and begin entering the local market, the City is starting to see the positive impacts of more housing choice for residents and continued confidence from builders and investors.

The City is also seeing more single-family lots being created and developed under provincial small-scale multi-unit housing changes. Right now, 120 single-family lots have preliminary approval or are under construction. Many of these lots can support duplexes, fourplexes, and other housing options.

Some key housing developments that are currently under construction include:

•    Rotary Creekside Village (12 unit below market senior)
•    ʔAqantⱠanam Housing Society (20 unit below market housing)
•    Colbrook Properties Victoria Avenue (49 unit senior rental)
•    WestUrban - Hawthorne (71 unit apartment)
•    Crown Pacific Wildstone Phase 1 & 2 (265 unit market rental)
•    KulKon Developments Wildstone Lot 5 (102 unit townhomes)
•    Victory Arch 11th St South (20 unit)

There are also a couple of significant Institutional projects currently under construction:

Cranbrook Childcare: This $13.5 million project will create 123 licensed childcare spaces. It will include 48 infant-toddler spaces and 75 spaces for children ages 3 to 5. The City of Cranbrook helped make the project possible by providing land, securing funding, and leading project delivery.

FW Green Home: This $232 million project will increase long-term care beds from 60 to 150. Shoring is complete, foundation work for Phase 1 is moving ahead, and site servicing and offsite upgrades are underway.

Cranbrook’s growth is being supported by steady planning, stable leadership, and ongoing infrastructure investment. These efforts help give confidence to investors, builders, businesses, and residents.
Projects are moving ahead in both the Victoria Avenue and Downtown Revitalization Tax Exemption areas. This shows how the right policies and infrastructure can help support growth in important parts of the city.
With construction happening across the city, Cranbrook’s growth is easy to see. These projects are creating new homes, supporting the local economy, and helping Cranbrook remain a place where people want to invest, build, work, and live.

“What this report tells me, is that people are choosing to invest here in Cranbrook, and the new housing we are seeing will help support families, workers, seniors, employers, and the community as a whole. It is such great news,” Mayor Price adds.