SEPTEMBER 2016 – BUILDING PERMITS UPDATE
Permit values in all three of Toronto’s ICI sectors declined in the January-July period compared to last year. Institutional permit values experienced the biggest decline of the three, falling 28%. This was partially because 2015 was a record high due to the Humber River Regional Hospital project. Compared to 2014, institutional permit values in the January-July period this year were more than double. Industrial permit values fell by 21%, but Toronto’s industrial sector has a strong future ahead of it. Several massive transit and water/wastewater projects are in the works or already under construction. Commercial permit values fell by 10%, but the total value was consistent with the average of recent years. The total value of commercial permits in Toronto between January and July was $1.9 billion which matches the average of the past 6 years.
FOR MORE INFORMATION, CONTACT:
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 241