Vaughan tops $1-billion, again

NRU
January 15, 2014

The City of Vaughan has surpassed the $1-billion mark in the annual value of its construction activity for the ninth time in 12 years, according to a recent media release. In 2013, permits issued in Vaughan totaled $1.102-billion, a 42 per cent increase over the value of permits issued in 2012 ($778.0 million).

The residential component accounts for 67 per cent ($735.3-million) of issued permits with new condominium apartments outpacing single-family dwellings, including townhouses and semidetached homes. Compared to 2013, commercial property construction increased by 49 per cent.

The continuing investment in public transit infrastructure accounted for almost half of the $103.6-million in institutional building permits. Construction is proceeding at the Pioneer Village Station on Steeles Avenue W., one of six stations being built along the 8.6 km Spadina Subway Extension for the Toronto Transit Commission.