Media Release
City of Hamilton surpasses $1 billion in Building Permits - sets new record
HAMILTON, ON – On June 14, 2023, the City of Hamilton surpassed $1 billion worth of construction since the beginning of the year. 2023 now marks the earliest the City has reached the billion-dollar mark in construction value, three days earlier than the previous record set in 2022, which was on June 17.
This milestone represents approximately 2612 building projects within the residential, institutional, commercial, and industrial sectors. The City has consistently reached the $1 billion milestone for over ten years in a row.
The $1 billion mark is an indicator the construction industry’s success within Hamilton, which in turn supports Hamilton’s economic growth, provides employment opportunities, new housing, and places for businesses to thrive.
Major Projects include:
- 863 Nebo Rd, Manufacturing, Atlantic Packaging
- 461 Green Rd, Apartments, Homes By DeSantis (Muse) Inc.
- 22 Roxanne Drive, Apartments, Roxborough Park Inc.
- 16 Roxanne Dr, Apartments, Roxborough Park Inc.
- 270 Longwood Rd, Industrial (Lab), McMaster Innovation Park
Quick Facts
- Total assessed construction value, up to and including June 2023, is comprised of 58.2% residential, 39.3% industrial/commercial/institutional, and 2.5% miscellaneous (Signs, demolitions, fire repair, tents, sewage systems, protective plumbing).
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Industrial, commercial, institutional has increased 51.3% over the previous 3-year average for a total of $425 million. The industrial sector has seen an increase of 94.6% over the previous 3-year average surpassing $322 million in assessed construction value.
This milestone is proof that the City is continually growing, year after year. Hamilton is a leader among Canadian cities and this new record is a strong indication that others believe in this City as much as I do. This work is a result of collaborative and persistent efforts towards housing affordability. I have heard from Hamiltonians loud and clear; Hamilton needs more housing. This is a step in the right direction to achieve that.
Andrea Horwath, Mayor of Hamilton
Again, it is made abundantly clear that Hamilton continues to be an attractive place for people to live, work and invest, with 2023 marking the earliest the City has achieved the $1 billion in new construction. It must be noted, that this would not be possible without the hard work of our city staff, development community, skilled trades, businesses and investors, and community stakeholders, who are all direct contributors to this achievement.
Jason Thorne, General Manager, Planning and Economic Development
With the current level of uncertainty caused by factors such as increased interest rates, it is clear the development industry still sees opportunity for investment in Hamilton. Having hit this milestone for the last 10 years, Hamilton remains a provincial leader in construction activity and is a prosperous community where business and people come to grow and develop. This achievement is made possible through the dedication of the many developers, owners, and contractors who support Hamilton’s growth. I am thankful for all our Planning and Economic Development staff who continue to help Hamilton build.
Alan Shaw, Director of Building and Chief Building Official
Additional resources
Tags
Build, Invest & Grow
Planning & Economic Development
Building & Renovation
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