February 28, 2008

Mississauga sets new record for total value of building permits in 2007

MISSISSAUGA

The City of Mississauga’s year-end total value of building permits reached $1.2 billion, making 2007 the 11th year in a row the city has exceeded the $1 billion mark.

“In Mississauga, our 57 to 43 per cent split between residential and commercial/industrial and other construction value virtually achieves an ideal 60 to 40 per cent balance,” said Mayor Hazel McCallion. “This balanced development makes our city a great place to live, work and operate a business.”

According to the December year-end Building Report, the City issued a total of 4,571 building permits in 2007, exceeding the 2006 year-end total by 6.5 per cent. The City’s building statistics show a nine per cent increase in residential construction value over last year and a five per cent increase in construction value for churches/schools and public/city development.

The value of building permits issued for residential construction totaled $682 million (3,426 new units) or 57 per cent of the year’s total. Commercial/industrial construction totaled $374 million (56 new buildings) or 31 per cent. Other construction totaled $143 million (10 buildings) or 12 per cent.

Two new multi-unit projects by Erin Mills Development Corporation will contribute 503 new units to the wide range of housing choices in the City’s west end. High rise developments — Tridel’s Ovation Community and Amacon’s Eden Park complex — will add 574 new residential units in Mississauga’s downtown where development is continuing to transform the Mississauga skyline.

Notable commercial/industrial projects include three large projects by ProLogis Canada Ltd. which total 75,870 square metres (807,293 square feet) of new industrial space in the north end of the city.

In the Airport Corporate Centre, a new 16,807 square metre (172,222 square feet) new office building began construction, and Bell Canada continued to expand its Mississauga campus with an additional building of 29,661 square metres (312,153 square feet) bringing Bell’s total number of employees at the campus to 6,500. In south Mississauga, the Trillium Health Centre is expanding its medical offices by 11,251 square metres (118,403 square feet).

As well, the City of Mississauga is completing construction of its new Sports Complex at the Hershey Centre, scheduled to be fully opened in spring 2008.

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