Investment in building construction was down 1.7% to $18.1 billion in July, according to StatsCan.

Residential construction declined for a third consecutive month following a record peak in April, while non-residential construction was up slightly, driven by the institutional sector.

Non-residential construction investment was up 0.9% in July to $4.6 billion.

Institutional investment posted its ninth consecutive increase (+2.2% to $1.3 billion), with the majority of provinces and territories reporting gains in July. Construction of a York University building in Ontario as well as ongoing construction of secondary schools in Quebec and British Columbia contributed to the national growth.

Construction has begun on a new campus for York University in the City of Markham, Ont. The Markham Centre Campus, the first public university in York Region, designed by Diamond Schmitt and constructed by Stuart Olson. It is expected to be open by the fall 2023 school year.

The institutional market share was 27.5%, with total investment totalling $1,275.6 million, representing a year-over-year increase of 9.2% or $108.0 million.

Featured image: The York University Markham Centre Campus building form consists of a five-storey podium with five-storey tower above. (York University)

 

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