Construction activity on the rise in FXBG

by | Jul 7, 2022 | All Articles

Construction activity in the City of Fredericksburg hit an all-time high in the fiscal year ending June 30.

The value of construction in Fredericksburg reached nearly $135 million in Fiscal Year 2022, according to a report from the City’s Community Planning and Building Department. That brought the five-year construction value total to nearly $475 million.

Significant contributors in the past year have included but are not limited to the redevelopment of the former Free Lance-Star headquarters properties, Highlander Park, Jubilation by Silver Companies, Valley Run, Riverview, Hanover House, Fredericksburg Park and more.

The data include the value of new construction and alterations. Here are the data from the past five fiscal years:

Residential Commercial Total
FY 2018 (July 2017-June 2018) $15,544,516.55 $80,222,637.26 $95,767,153.81
FY 2019 (July 2018-June 2019) $16,907,936.34 $36,086,582.11 $52,994,518.45
FY 2020 (July 2019-June 2020) $18,715,183.06 $91,668,846.46 $110,384,029.52
FY 2021 (July 2020-June 2021) $45,360,868.38 $35,408,453.17 $80,769,321.55
FY 2022 (July 2021-June 2022) $57,294,942.47 $77,069,451.75 $134,364,394.22
Total $153,823,446.80 $320,455,970.75 $474,279,417.55

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Bill Freehling
Director, Economic Development and Tourism
bfreehling@fredericksburgva.gov
706 Caroline St.
Fredericksburg, VA  22401
Ph:  540-372-1216
Ph:  800-260-3646
Fx:  540-372-6587