July 17, 2026
SUMMARY
Ontario’s total industrial, commercial, and institutional (ICI) building permit value was $2.11 billion in May 2026, down 1.8% from April. The decline was mainly due to lower industrial permit values, while commercial and institutional permits both increased. Toronto remained the largest market, but Peterborough recorded a historic month because of a major university project.
PROVINCIAL OVERVIEW
Ontario’s total ICI building permit value reached $2.11 billion in May 2026, down 1.76% from April.
The decline was mainly caused by the industrial sector, where permit values fell to $0.43 billion, compared with $0.54 billion in April.
Commercial permit values increased to $0.91 billion, while institutional permits rose to $0.78 billion. Both sectors recorded monthly gains. However, all sectors except commercial remained below their levels from June 2025.
Building permit values can vary from month to month because a small number of large projects can significantly affect the totals.
REGIONAL HIGHLIGHTS
Toronto recorded $746.2 million in permits in May, down 30.4% from April. The decrease was mainly due to lower institutional permit values.
Peterborough recorded a historic $257.4 million in non residential building permits in May 2026. This was driven by a $225 million university infrastructure project. The institutional permit can be linked to Trent University’s 700,000 square foot East Bank campus expansion, which includes Gidigaa Migizi College and the new Otonabee College residence. Peterborough ranked second among Ontario’s Census Metropolitan Areas (CMAs) for non residential permit value, behind only Toronto, despite its usual monthly average being below $10 million.
Ottawa-Gatineau followed with $148.6 million in permits, while Kitchener-Cambridge-Waterloo recorded $95.1 million. Commercial projects led activity in both CMAs. Office buildings accounted for most of Ottawa’s permit value, while warehouses led in Kitchener-Cambridge-Waterloo.
Guelph ($48.7 million), Greater Sudbury ($43.9 million), Barrie ($31.0 million), and Thunder Bay ($29.9 million) recorded the fastest monthly growth. However, Barrie and Guelph remained below their levels from the same time last year. Commercial projects led growth in Barrie and Thunder Bay, while industrial projects drove growth in Guelph and institutional projects led in Greater Sudbury.
Brantford, Kingston, Oshawa, and Windsor recorded the lowest building permit values, each below $10 million. All four CMAs also posted declines compared with both the previous month and the same month last year.
WHAT IS BEING BUILT?
The commercial sector accounted for 43% of total ICI permit value in May, followed by the institutional sector at 37%and the industrial sector at 20%.
Education projects recorded $397.7 million in permits, an increase of $355 million from April.
Office buildings reached $425.4 million, the highest value since October 2025.
Mining and agriculture projects totalled $193.6 million, the highest value since April 2025. Transportation projects reached $159.8 million, making it the fourth largest building category, although it was lower than the previous month.
The largest monthly declines were recorded in medical buildings, transportation, trade and services, factories, and hotels.
____________________________
FOR MORE INFORMATION, CONTACT:
Gargi Bharti
Economic and Research Project Lead
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210
gbharti@iciconstruction.com
