NOVEMBER 2016 – BUILDING PERMITS UPDATE
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London’s ICI sector had an impressive summer with permit values over the June-August period increasing by 28% compared to last year. August was especially active with over $100 million in permits issued in that month alone. Commercial permit values increased 70% for the June-August period. Over the calendar year so far commercial permit values reached their highest level on record. Although industrial permit values almost tripled, the sector still only accounted for 17% of the ICI total. The industrial increase was largely due to the expansion of the Starlim silicone plant.
For the June-August period, institutional permit values declined by 30%. Overall though, London’s institutional sector is having a strong year. For the calendar year so far, institutional permit values were at their highest level in five years. Although there was a summer decline, there has still been significant institutional activity in London. The University of Western Ontario was issued a $20 million permit in July for renovations to its University College facility.
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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