New record for fastest climb to $1 billion. Pictured is an artist rendering of the Muse development at 461 Green Road in Stoney Creek. Photo credit: DeSantis Homes
The City of Hamilton recently announced that, as of June 14, the municipality had surpassed $1 billion worth of construction permits on the year.
June 14 sets a new record for the earliest in the calendar year that the city has reached the billion-dollar mark in construction value. The previous record was set in 2022 when the city reached the milestone number of June 17.
The city reports that 2,612 building projects in residential, institutional, commercial, and industrial sectors have been approved this year. The city has reached the $1 billion milestone for over ten years in a row.
A city statement says that “the $1 billion mark is an indicator of 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.”
So far, the total assessed construction value is 58.2 per cent residential, 39.3 per cent industrial, commercial, or institutional, and 2.5 per cent miscellaneous (e.g. signs demolitions, fire repair, sewage systems, protective plumbing).
Major projects include 461 Green Road in Stoney Creek, a 12-storey residential condo building that will have 260 units and more than 400 square metres of commercial space on the ground floor.
The project is valued at $101 million and is located just north of the QEW on the west side of Green Road. The project is called “Muse” and has already sold out. It’s led by DeSantis Homes.
Other major projects include:
863 Nebo Road – Manufacturing – Atlantic Packaging
22 Roxanne Drive – Apartments – Roxborough Park Inc.
16 Roxanne Drive – Apartments – Roxborough Park Inc.
270 Longwood Road – Industrial (Lab) – McMaster Innovation Park
The city says that the industrial sector has seen an increase of 94.6 per cent over the previous three-year average, surpassing $322 million in assessed construction value.
Jason Thorne, General Manager of Planning and Economic Development at the City of Hamilton, says that reaching the $1 billion milestone earlier than ever before makes it “abundantly clear that Hamilton continues to be an attractive place for people to live, work, and invest.”
Alan Shaw, the Director of Building and Chief Building Official for the city says that the achievement “is made possible through the dedication of the many developers, owners, and contractors who support Hamilton’s growth.”
Based in Hamilton, he reaches hundreds of thousands of people monthly on Facebook, Instagram, TikTok, and Twitter. He has been published in The Hamilton Spectator, Stoney Creek News, and Bay Observer. He has also been a segment host with Cable 14 Hamilton. In 2017, he received the Chancellor Full Tuition Scholarship from the University of Ottawa (BA, 2022). He has also received the Governor General’s Academic Medal. He formerly worked in a non-partisan role on Parliament Hill in Ottawa.
