Investors have poured capital into construction in Laval in 2015. The value of all construction projects here has jumped to $714.1 million so far this year, up more than 70 percent from $418.5 million from January-August last year, David de Cotis reported.
“Those numbers testify that Laval is an economic powerhouse,” crowed the city’s executive committee vice-chairman.
Laval’s population has soared thanks to its ability to attract newcomers. It has issued building permits to construct 1,250 residences so far this year, compared with 782 residences in the first eight months of 2014. In August 2015 alone, the city issued 36 permits worth $54.1 million—nearly five times the $11.1 million worth issued in August 2014.
The city’s demographics have also diversified at a meteoric pace.
“It’s booming, compared with other cities across Quebec. More people are moving here from Montreal and those who already live here want to stay,” de Cotis told The Suburban.
“The population is about 420,000 now,” he said in an interview. “It’s getting close to a 50:50 ratio of francophones to non-francophones.”
As a result, within the next decade, Laval is projected to overtake Quebec City as the province’s second-most populous municipality.
“There’s no mistaking the significance of investment in terms of new homes and renovations,” de Cotis added. “In comparison to Montreal and Quebec City, Laval is way ahead of the pack.”
He attributed his city’s success formula to its strong transportation links.
“It’s close to Dorval airport and Mirabel,” he said. “Highways 15, 13 and 25 provide easy access to the north and south of city. Plus, when it comes to self-sufficiency, we can feed ourselves from local farmland where we grow our crops—and our water quality is rated tops in Quebec.”