04-01-2017, 11:06 AM
2016 Building Activity and Growth Monitoring
http://calendar.regionofwaterloo.ca/Coun...17#page=22
"The total value of building permits issued for new construction in Waterloo Region was $1.4 billion in 2016, a substantial increase of 36 per cent over 2015 values and more than 30 per cent higher than the 10-year average. The increase in building value was due to a spike in residential building activity in 2016, with permits being issued for 5,370 units, approximately 50 per cent higher than the 3,556 units in 2015. The value of these permits increased more than 60 per cent to over $1 billion. The largest component of residential building activity was apartments, with over 2,600 units, representing close to half of new units. Growth of student-oriented apartments remains strong, accounting for over 40 per cent of new apartments. Permits to build single-detached dwellings were up 55 per cent, with about 1,700 single detached units representing almost a third of new units.
Non-residential building permits were issued for 1.8 million square feet of floor space in 2016, with a total value of $250 million, compared to 1.7 million square feet worth over $315 million in 2015. In year-over-year square footage comparison, industrial square footage increased while the commercial sector tapered somewhat. The institutional sector was quieter in 2016.
Building permits indicate that 54 per cent of new residential dwelling units in 2016 were within the built-up area of the Region. This is the seventh consecutive year that the Places to Grow target of 40 per cent (which came into effect in 2015) and the Regional Official Plan target of 45 per cent have been exceeded. In addition, 62 per cent of new non-residential floor space was constructed inside the built-up area."
http://calendar.regionofwaterloo.ca/Coun...17#page=22
"The total value of building permits issued for new construction in Waterloo Region was $1.4 billion in 2016, a substantial increase of 36 per cent over 2015 values and more than 30 per cent higher than the 10-year average. The increase in building value was due to a spike in residential building activity in 2016, with permits being issued for 5,370 units, approximately 50 per cent higher than the 3,556 units in 2015. The value of these permits increased more than 60 per cent to over $1 billion. The largest component of residential building activity was apartments, with over 2,600 units, representing close to half of new units. Growth of student-oriented apartments remains strong, accounting for over 40 per cent of new apartments. Permits to build single-detached dwellings were up 55 per cent, with about 1,700 single detached units representing almost a third of new units.
Non-residential building permits were issued for 1.8 million square feet of floor space in 2016, with a total value of $250 million, compared to 1.7 million square feet worth over $315 million in 2015. In year-over-year square footage comparison, industrial square footage increased while the commercial sector tapered somewhat. The institutional sector was quieter in 2016.
Building permits indicate that 54 per cent of new residential dwelling units in 2016 were within the built-up area of the Region. This is the seventh consecutive year that the Places to Grow target of 40 per cent (which came into effect in 2015) and the Regional Official Plan target of 45 per cent have been exceeded. In addition, 62 per cent of new non-residential floor space was constructed inside the built-up area."
Everyone move to the back of the bus and we all get home faster.