NOVEMBER 2016 – BUILDING PERMITS UPDATE
Thunder Bay’s total ICI permit values in this calendar year so far fell to their lowest in a decade. Permit values in the June-August period were also at their lowest level since the recession in 2009. Industrial permit values actually had a significant increase, but the actual total for the June-August period amounts to less than $2 million. This was almost entirely due to the construction of a new helicopter hanger by Hydro One. It should be noted that Statistics Canada’s industrial permit numbers do not capture all of the industrial sector’s construction activity. New Gold currently has a project underway that is keeping Thunder Bay’s industrial sector busy.
Commercial permit values in Thunder Bay declined by about a quarter in the June-August period. The commercial sector is still the largest in Thunder Bay accounting for just under half of total ICI permits. Recent activity in this sector has been driven by new hotel construction.
Thunder Bay’s institutional sector had the biggest decline. Permit values were down 85% for the June-August period. A major institutional project is coming up though. Prequalification closed in September for Confederation College’s $20 million Technology, Education and Collaboration Hub.
FOR MORE INFORMATION, CONTACT:
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 241