APRIL 2017 – BUILDING PERMITS UPDATE
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Permit values from the past six months declined significantly in each of Barrie’s ICI sectors. Looking at permit values from August 2016 to January 2017 compared to the same period year-over-year, total ICI permit values declined 61%. Institutional permit values had the steepest drop, down 88% to just one and a half million. Industrial permit values declined by 78%. Barrie’s commercial sector – which accounted for 83% of ICI permit values, more than in any other metropolitan area in the province – saw permit values decline by half.
The dramatic decline in permit values is somewhat deceptive and would be better characterized as a major project winding down. Commercial permit activity throughout the August 2015-January 2016 period was driven by projects in the North Barrie Crossing commercial development. Nine projects were issued permits totalling over $35 million in that period. During the most recent August-January period there were seven permits issued in this development but were for much smaller projects or alterations and only totalled $5.7 million.
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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