2014 a record building year reports Hamilton
HAMILTON — Hamilton issued more than $1.1 billion worth of construction permits in 2014 as of mid-fall, according to the city’s chief building official, Ed VanderWindt.
“As of October, the residential component was the strongest, accounting for 73.15 per cent of the month’s total and is valued at $65.57 million. Of the 325 residential permits, 103 were issued for new single-family dwellings at a total of $38.06 million,” said VanderWindt in an interview.
The top four permits in construction value (as of Nov. 25) were:
— The PanAm Stadium at 64 Melrose Ave. North
— A 10-storey addition to an existing six-storey building at 1620 Upper Wentworth St.
— A five-storey addition to an existing six-storey building at 150 Main St. West
— A pending superstructure of a five-storey McMaster University building at 1280 Main St. West
Commercial activity accounts for 15.43 per cent or $13.83 million, with 44 permits issued. Industrial activity accounts or 6.43 per cent or $5.76 million and the government and institutional activity accounts for 3.53 per cent or $3.17 million.
To compare, construction activity in 2013 was dominated by the residential sector, with over $524 million in construction, or 51.2 per cent of the annual total.
Industrial, Commercial and Institutional accounted for $496 million, which was an increase of 28.1 per cent over the previous high set in 2012
VanderWindt adds that more than $150 million in construction is on the cusp to “go out the door,” so the final 2014 total could be exceptionally higher.
Since Jan. 1, the city has issued over 5,000 permits worth just shy of $1 billion in construction.
These are the second-highest totals in the last five-years. 2012 was the benchmark year, when $1.4 billion worth of construction permits were issued.
“These building permits are not all attributable to one sector — there are great numbers in residential, commercial, industrial and institutional categories,” says Neil Everson, City of Hamilton economic development director.
“It’s also interesting to point out that the permits represent not just new business, but in fact, many are directly related to business expansion of local companies.”
Among other projects in the works, a $2-million complex of stores to be constructed in Glanbrook, $1.4 million for an Arvin Avenue manufacturing plant in Stoney Creek, $2 million for an office complex on Upper Ottawa Street in the east end and over $800-thousand for a warehouse on Hempstead Drive on the east mountain.
Everson, in a news release, said industrial-commercial permits are important because many represent expansions of local companies as well as work for new businesses to the Hamilton area.
Article courtesy of Dena Fehir, Daily Commercial News