January 18, 2018 2:59 pm

$1.3B in building permits a new high watermark for Hamilton

2017 was another record year for building permits in Hamilton. LIUNA's plan to build two resident towers in the core could be one of the big projects in 2018.

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The final tally is in following another year of surging construction activity in Hamilton.

The city says building permits totalled more than $1.3 billion for 2017, with the residential sector responsible for just under 60 per cent of that.

READ MORE: Earliest ever date, as Hamilton hits $1 billion in building permits for 2017

There were also more than 1,600 industrial, commercial, and institutional permits issued, with industrial activity up a whopping 197 per cent.

Last October, Hamilton permits went over the $1-billion mark for the year last October, it marked the earliest date ever for that achievement in Hamilton.

“It sets a new high watermark for us and let’s see where we go from here,” says Director of Economic Development Glen Norton.

READ MORE: Capital budget approved, Hamilton water rates rise

Norton adds that with the percentage of activity finally rising in the industrial sector, the new taxes will start to “take pressure off the shoulders of the residential homeowner.”

© 2018 Global News, a division of Corus Entertainment Inc.

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