HAMILTON, ONT. — The City of Hamilton has announced that on June 14 the city surpassed $1-billion worth of construction since the beginning of the year as measured by building permits issued.
It’s the earliest the city has reached the billion-dollar mark in construction value, three days earlier than the previous record set in 2022, which was on June 17, stated a release.
The milestone represents approximately 2,612 building projects within the residential, institutional, commercial and industrial sectors. The city has reached the $1-billion milestone over 10 years in a row.
Major projects include:
- 863 Nebo Rd., manufacturing, Atlantic Packaging
- 461 Green Rd., apartments, Homes By DeSantis (Muse) Inc.
- 22 Roxanne Dr., apartments, Roxborough Park Inc.
- 16 Roxanne Dr., apartments, Roxborough Park Inc.
- 270 Longwood Rd, industrial (lab), McMaster Innovation Park.
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 and protective plumbing).
Industrial/commercial/institutional has increased 51.3 per cent over the previous three-year average for a total of $425 million.
The industrial sector has seen an increase of 94.6 per cent over the previous three-year average, surpassing $322 million in assessed construction value.