SEPTEMBER 2016 – BUILDING PERMITS UPDATE
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ICI permit values in Kitchener-Cambridge-Waterloo (Waterloo Region) rose slightly compared to the January-July period last year. Waterloo Region’s institutional permitting increased by 62% to nearly reach the level of permit activity in the commercial sector. Commercial permit values had an increase of 10% which matches the sector’s recent growth trend. This was the third year in a row that Waterloo Region’s commercial sector saw a 10% increase for the January-July period. Institutional and commercial gains were offset by the industrial sector which saw a 56% decline. This decline could be due in part to high permit values on the Waterloo Region’s LRT project in 2015. Over the next few years, activity in all three sectors is expected to be strong due construction around stations on the new LRT line.
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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