The City of Hamilton has officially surpassed $1 billion worth of construction since the beginning of the year, making June 2021 the earliest the City has reached the billion-dollar mark in construction value. This milestone represents building projects in the residential, institutional, commercial, and industrial sectors.
“Reaching the milestone of $1 billion worth of building permits issued so far in 2021 through the continued global pandemic is a significant achievement that speaks of the continued momentum in Hamilton,” stated Hamilton Mayor Fred Eisenberger.
2021 marks the first time Hamilton has reached the billion-dollar mark in the first half of the year. Previously, the earliest this milestone was reached was August 2019. The city has now reached the $1 billion milestone eleven out of the past twelve years.
“This success has helped with Hamilton’s economic growth as it directly contributes to providing employment opportunities and new housing in the city,” added Jason Thorne, Hamilton’s GM, Planning and Economic Development.
Total construction value to up and including June 2021, is comprised of 65.6% residential, 32% industrial/commercial/institutional, and 2.4% miscellaneous.
Residential has increased 55.7% over the previous 3-year average for a total of $725 million.
Industrial, commercial, institutional has increased by 74% over the previous 3-year average for a total of $359 million.
“Through reaching the $1 billion milestone eleven out of the past twelve years is a clear indicator of growth the construction industry has seen in Hamilton, and the staff who work to make our city a better place,” said Ed VanderWindt, the city’s Chief Building Official.
Featured image: The City of Hamilton has now reached the $1 billion in building permits milestone eleven out of the past twelve years. (City of Hamilton)