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Construction is booming
Feb. 16, 2005
- Brampton Guardian
Brampton is now Canada's 10th largest city with the second busiest construction market in the nation, hitting an all-time high of $2.7 billion in new construction last year.
Much of it-- $2.04 billion-- was residential construction, a 50 per cent surge compared to 2003. That made Brampton No. 1 in Canada for residential construction value, although the city ranked fourth in new home starts with 9,567, behind Calgary (13,200), Toronto (12,487) and Montreal (12,313). Brampton's residential development value is higher, however, because it is weighted with single-family homes as opposed to condominiums, according to Jeff Baines, the city's manager of economic development.
Brampton's average house price hit $260,000 last year compared to $242,000 in 2003.
City officials say Brampton is managing the unprecedented growth with its Growth Management Plan.
"We have put in place a forward thinking Growth Management Plan that balances new construction growth with the concerns of our residents," said Brampton Mayor Susan Fennell. "Thanks to our management plan, Brampton's growth will provide a number of new economic opportunities for everyone who works, lives and plays in the city."
In overall new construction value, Brampton was second only to Toronto, which hit $3.7 billion in 2004, but Brampton was well ahead of third-place Montreal ($2.5 billions), Calgary ($2.45 billion), Ottawa ($1.63 billion), Vancouver ($1.6 billion), and Mississauga ($1.4 billion).
In total, there were more than 12,000 building permits issued in Brampton last year. It was the fifth year in a row Brampton has topped $1 billion in new construction. In 2003, Brampton was ranked fourth overall, behind Toronto, Calgary and Montreal.
Commercial development is booming along with residential, with a 50 per cent increase compared to 2003, according to Baines. Last year, 227 new businesses opened, creating more than 1,800 new jobs. Baines said the city has no way of keeping right up to date on businesses that close year-to-year, or jobs lost, but he believes the city was ahead of the game in 2004 compared to the previous year.
"You always lose a few," Baines said. "I don't know if we've lost more than we've gained."
Brampton's unemployment rate for December 2004 was 7.1 per cent, up 6 per cent compared to December 2003's 6.7 per cent.
City figures show Brampton had approximately 10 per cent more industrial development in 2004 compared to 2003, although Statistics Canada figures show a slight decrease, he said. The city and Statistics Canada use different criteria in assessing industrial development, which accounts for the discrepancy, he said.
Commercially, however, the figures show the city is doing well.
"In this economic climate, our growth is far outstripping our loss," he said. "With the number of new retail malls added last year, the demand for population-serving commercial is increasing."
Commercial development totaled $164 million in 2004. It was led by Orlando Development's construction of the Loblaws head office on Mississauga Road, two new Marriott hotels (the Courtyard and the Fairfield, both expected to open this year), and the city's new performing arts centre in the downtown core. Also started in 2004, the 100,000 sq.-ft. Canadian Tire store at Bovaird Drive and McLaughlin Road, two new car dealerships (Attrell Toyota and Bramview Ford), and 11 new retail malls.
Industrial development value totalled $208.7 million, according to City of Brampton figures. That activity was led by:
* 240,000 sq.-ft. freezer facility for Millard Refrigerated Services, which has plans to double in size this year;
* 300,000 sq.-ft. Hopewell Development facility at Orion Gate;
* Menkes' five new industrial buildings totaling close to 1 million sq.-ft., including Bombay Company of Canada's new Canadian head office;
* NAFTA Foods and Swissplas have built new homes at Goreway and Hwy. 407, part of a 500,000 sq.-ft. Giffels development.
In total, the city saw the addition of:
* close to 6.75 million sq.-ft. of commercial, industrial and institutional construction;
* 28 new industrial buildings and 31 new commercial buildings;
* two new hotels and a major renovation and addition to Bramalea City Centre;
* five new elementary schools and one new secondary school.
"The growth Brampton experienced in 2004 confirms its place as a significant urban centre," Baines said. "With current economic and financial indicators supporting stable growth, Brampton is expected to continue to be among Canada's leaders in development value for many years to come."
Brampton's new construction values in the past five years were: $1.125 billion in 2000; $1 billion in 2001; $1.215 billion in 2002; $1.8 billion in 2003; $2.7 billion in 2004.
Just 10 years ago, construction values in Brampton totalled $285 million.
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