Ontario Construction News staff writer
The City of Hamilton surpassed $1 billion worth of construction since the beginning of the year on Jun. 14 – the earliest the billion-dollar mark in construction value has been reached. The milestone was reached three days earlier than the previous record set in 2022, which was on June 17.
Stats include about 2,612 building projects within the residential, institutional, commercial, and industrial sectors. Hamilton has topped the $1 billion milestone for more than ten years in a row.
“Again, it is made abundantly clear that Hamilton continues to be an attractive place for people to live, work and invest, with 2023 marking the earliest the City has achieved the $1 billion in new construction,” said Jason Thorne, general manager planning and economic development. “It must be noted, that this would not be possible without the hard work of our city staff, development community, skilled trades, businesses and investors, and community stakeholders, who are all direct contributors to this achievement.”
Total assessed construction value, up to and including June 2023, is comprised of 58.2 per cent residential, 39.3 per cent industrial/commercial/institutional, and 2.5 per cent miscellaneous (Signs, demolitions, fire repair, tents, sewage systems, protective plumbing).
Major Projects include:
- 863 Nebo Rd, Manufacturing, Atlantic Packaging
- 461 Green Rd, Apartments, Homes By DeSantis (Muse) Inc.
- 22 Roxanne Drive, Apartments, Roxborough Park Inc.
- 16 Roxanne Dr, Apartments, Roxborough Park Inc.
- 270 Longwood Rd, Industrial (Lab), McMaster Innovation Park
Industrial, commercial, institutional has increased 51.3% over the previous 3-year average for a total of $425 million. The industrial sector has seen an increase of 94.6% over the previous 3-year average surpassing $322 million in assessed construction value.
“With the current level of uncertainty caused by factors such as increased interest rates, it is clear the development industry still sees opportunity for investment in Hamilton,” said lan Shaw, director of building and chief building officer. “Having hit this milestone for the last 10 years, Hamilton remains a provincial leader in construction activity and is a prosperous community where business and people come to grow and develop.
“This achievement is made possible through the dedication of the many developers, owners, and contractors who support Hamilton’s growth. I am thankful for all our Planning and Economic Development staff who continue to help Hamilton build.”