Hello Ward 8 Neighbours,
2023 now marks the earliest the City has reached the billion-dollar mark in construction value.
For more details, please continue reading below…
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).
- 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.
Questions or concerns?
If you have any questions or concerns, you can contact our office here.