Hamilton’s growth continues to be driven primarily by residential development.
The city confirms it has surpassed $1 billion worth of construction since the beginning of the year, a milestone that represents over 3,700 projects in the residential, institutional, commercial, and industrial sectors.
June 17, 2022, marked the earliest date by which the city had ever reached the billion-dollar mark in construction value, 13 days earlier than the previous record set in 2021.
The city adds that housing is still the primary source of new growth, with the residential sector responsible for 72.7 per cent of this year’s construction value.
Industrial, commercial and institutional construction combines for 25.7 per cent of this year’s total.
“Surpassing $1 billion in construction value already this year, the earliest time on record, and coming after we achieved the historic milestone $2 billion worth of building permit value last year is a strong indication that Hamilton’s economy is roaring ahead,” said Hamilton Mayor Fred Eisenberger.
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“It means jobs are being created and our community is being transformed like never before.”
“Having hit this milestone for the last 10 years,” added Alan Shaw, Hamilton’s chief building official, “it remains clear, that Hamilton is a provincial leader in construction activity and is a prosperous community where business and people come to grow and develop.”
Jason Thorne, the city’s general manager of planning and economic development, says the $1 billion milestone represents construction of all types including everything a backyard shed to million dollar condos.
“We were typically maybe fifth or sixth in the province in terms of construction activity,” Thorne told 900 CHML Good Morning Hamilton.
“We’ve jumped now up to, maybe, third or fourth in the province in terms of how much development is happening in the city.”
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