MAY 2017 – BUILDING PERMITS UPDATE
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In the past six months, permit values in Ottawa declined significantly in all three sectors. Overall, total ICI permit values were down by just over half compared to the previous September-February period. Industrial permits had the biggest percentage decline, down to only $8.1 million over the six-month period, while commercial and institutional permit values each fell by about half. While these numbers appear to indicate a slowdown, it should be noted that Ottawa is coming off of several months of record breaking permit activity. As previously reported, Ottawa’s ICI permit values over January-August 2016 were the highest ever recorded for that period. Ottawa’s LRT project along with several major mixed-use projects led permit activity over this period. Most of the permit activity on Ottawa’s LRT project has finished and according to the City of Ottawa’s records, no permits were issued over the past six months. While permitting on the first stage of Ottawa’s LRT project is wrapping up, Ottawa is pushing ahead with Stage 2. RFQ’s were recently released for both the Confederation Line and Trillium Line extensions. The RFQ for the Confederation Line Extension, valued at $2 billion will close on May 19th, while the Trillium Line Extension valued at $3.6 billion will close prequalification on June 6th.
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FOR MORE INFORMATION, CONTACT:
Ian Worte
Research Analyst,
ianw@iciconstruction.com
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 241
F 416.620.5310