August 14, 2025
SUMMARY
Total ICI permit value was up 6% year-to-date (YTD) in the first half of 2025, driven solely by a 29% YTD increase in the institutional sector (even in spite of the large monthly drop in June). Much of this strength was due to activity in the hospital and medical sector, specifically in St. Catharines.
MONTHLY, QUARTERLY, AND YTD
Month-to-month ICI permit value dropped from $3.59B to $2.64B, dragged down by a large decline in the institutional sector from May to June ($2.07B to $667M). However, the spike from May still contributed to a large increase in both institutional and overall ICI permit value in Q2 (see chart below). While industrial and commercial sectors saw sizable quarterly increases, YTD values for both were down. Only the institutional sector was up YTD, with a formidable 29% increase.
BUILDING TYPE AND CMA LEVEL INSIGHTS
Drilling down into the data revealed that the source of the large spike in May institutional permit value was from the medical and hospital sector in St. Catharines. A $1.62B permit was issued in May, comprising almost 90% of the year-to-date permit value in that sector ($1.86B) and making up almost 80% of the institutional YTD value! This is likely related to permits for the South Niagara Hospital Project.
The next largest sector by YTD permit value was office buildings at $1.5B. The source of this sector’s strength was steady permitting activity in Toronto throughout each month in 2025 (with the exception of a roughly $400M jump in April), totalling to roughly $1.16B.
Lastly, schools and education rounded out the top 3 building types with a YTD value of $1.2B. Most of this came from Toronto as well, which comprised roughly half of the value. Other notable regions with permitting activity in this sector included London ($167M), Kingston ($118M), and Guelph ($89M, and a 748% increase over the previous YTD value).
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FOR MORE INFORMATION, CONTACT:
Ali Ahmad
Research Analyst
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 222
aahmad@iciconstruction.com
