Hamilton building permits pass $1B for ‘21
Building permit values in Hamilton pushed passed $1 billion for the year to date in June, thanks to strong increases in all components.
This marks the earliest date the city’s permit values have exceeded the $1-billion mark, and the first time the city 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 11 out of the past 12 years.
“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,” said Mayor Fred Eisenberger. “I am proud of our staff and their dedication as they continue to work with developers, builders, and our business partners to create more jobs for our community. By continuing to adapt to current challenges and work together, we will continue to build momentum and emerge from this pandemic a more resilient Hamilton than ever before."
Total construction value through June 2021 is comprised of 65.6 percent residential, 32 percent industrial/commercial/institutional, and 2.4 percent miscellaneous. The value pf permits in the residential sector has increased 55.7 percent over the previous three-year average for a total of $725 million. The value of permits in the industrial, commercial, institutional sectors has increased by 74 percent over the previous three-year average for a total of $359 million.
City staff have continued to work remotely throughout the COVID-19 pandemic to provide alternative service delivery options in order to continue supporting building within the city. The construction and development industry is key to Hamilton’s ongoing success and economic recovery. The building industry supports Hamilton’s economic growth, provides employment opportunities, new housing, and places for businesses to thrive.