HAMILTON, ONT. — Data released recently by the Municipal Property Assessment Corporation (MPAC) shows the self-storage sector has grown nearly nine per cent in the past three years.
The province now has 37.3 million square feet of commercial self-storage space, with 4.2 million square feet added to the storage footprint in the past three years and more planned, stated an MPAC release.
The number of facilities is growing in tandem with the construction of condo facilities.
Toronto, Ottawa and Mississauga, cities with the largest concentration of condos, have seen the most growth.
Toronto now has more than eight million square feet of commercial self-storage space, followed by Ottawa with three million square feet and Mississauga with two million square feet.
The self-storage increase is consistent with data released by MPAC in 2022, showing Ontario condominiums are 35-per-cent smaller on average than they were 25 years ago.
“There are a number of factors contributing to the self-storage boom, such as smaller dwellings, particularly condominiums, providing less space to store personal possessions,” said MPAC vice-president Greg Martino in a statement.
“The pandemic may have also added to this trend, with more people working from home, looking to store items that have accumulated in their living spaces, downsizing or undergoing renovations.”
MPAC is also noting a change in unit design. While the traditional low-rise, mini-warehouse structure is still common, other facilities are typically larger, fully enclosed, multi-storey structures that offer flexible spaces, 24-hour access and drive-in bays.
“We’re also seeing multi-storey buildings with sophisticated facades that allow them to blend into urban areas,” said Martino.
The top 10 are: Toronto, 8,337,000 square feet; Ottawa, 3,065,000 square feet; Mississauga, 2,099,000 square feet; Hamilton, 1,050,000 square feet; London, 989,000 square feet; Brampton, 899,000 square feet; Oshawa, 845,000 square feet; Burlington, 792,000 square feet; Markham, 620,000 square feet; and Windsor, 580,000 square feet.
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