Presentation to Brampton Real Estate Board

Transcription

1 Presentation to Brampton Real Estate Board City of Brampton October 217

2 Economic Development and Cultural Department Economic Development Cultural Services Advance Manufacturing Human Health & Sciences Theatres Festivals & Special Events Health and Life Science Innovation and Technology Culture Tourism Central Area Brampton Entrepreneur Centre (BEC) Expeditor Research & Poicy Marketing & Special Events

3 Table of Contents 1. Brampton within the Greater Toronto Area (GTA) 2. Population and Employment 3. Growth Areas 4. Latest Economic Indicators 5. Economic Indicators: 212 to Construction Value Ranking (Mid Year 217) 7. Employment Base 8. Construction Activity: Commercial Development 9. Construction Activity: Industrial Development 1. Construction Activity: Institutional Development 11. Residential Activity 12. Economic Development Stories

4 Brampton within the Greater Toronto Area (GTA) 3rd The City of Brampton is located in the Region of Peel and is the largest city in the Greater Toronto Area (GTA) within Ontario, Canada. Brampton is approximately 45 kilometres northwest of downtown Toronto. According to Statistics Canada s 216 Census of Canada, Brampton s population is approaching 6, people making it the 9th largest city in the nation. Brampton is strategically positioned as one of Canada s fastest growing municipalities with an average growth rate between the years of 211 to 216 of 13.3 per cent; with an average age of 36.5, Brampton s population represents one of the youngest demographics in the GTA. Brampton is just north of Toronto Pearson International Airport Canada s largest international gateway. The Brampton market is served by major 4 series highways, including ETR 47, 41, 427, 43, and 41. For further information go to:

5 Population and Employment 35, 1,, 836,8 3, 25, 863,8 888,6 76,7 686,8 2, 9, Employment in 8, Brampton is expected to have growth of over 7, 5% 6, over the next 25 years 5, 15, 321,96 37,11 292,43 268,46 5, 244,3 1, 4, Population in 3, Brampton is expected to have growth of over 2, 1, Population 236 Employment Source: Preliminary forecasts prepared for the City of Brampton by Hemson Consulting Ltd. Brampton-Specific scenario (May 22, 215) 241 4% over the next 25 years

6 Growth Areas Growth Rate Growth Rate Growth Rate % 184% 211: 221: 231: 241: 211: 76, : 145, : 21,34 241: 217,646 14, , , ,63 139% 211: 221: 231: 241: 4,29 65,949 9,198 96, % Population Growth Brampton Growth Rate % 211: 221: 231: 241: BRAMPTON 13,156 32,167 49,93 53, : 686,8 226: 76,7 231: 836,8 236: 863,8 241: 888,6 Growth Rate % 211: 221: 231: 241: 32,39 39,545 53,777 69,216 Source: Preliminary forecasts prepared for the City of Brampton by Hemson Consulting Ltd. Brampton-Specific scenario (May 22, 215) Compiled by Brampton Economic Development Office **Including Net Undercoverage

7 Latest Economic Indicators Brampton Indicators YTD September 217 Total Employment1 YTD September 216 Variance (17/16) 1,356* 791* 71.4% 14* 147* -29.3% $1,12,238,591 $1,464,38, % $81,6,744 $1,173,39, % $37,68,338 $287,88, % Industrial Construction Value3 $144,759,992 $154,524, % Commercial Construction Value3 $11,36,79 $7,518, % Institutional Construction Value3 $61,559,637 $62,837,31-2.% 6,91 8, % $71,323 $579, % 2,123 2, % Total Business1 Unemployment Rate % (Region of Peel)2 Total Construction Value3 Residential Construction Value3 Non-Residential Construction Value3 Housing Resale Activity4 Average House Price4 Housing Permits (units)3 Industrial Vacancy Rate % (Q3 217/216)5 Sources 1. City of Brampton Economic Development Office 2. Statistics Canada, Labour Force Survey, custom tabulation September City of Brampton Building Division, September Monthly MarketWatch (Toronto Real Estate Board) September GTA Q3 217/216 Industrial Market Statistics - (Colliers International) * Please note these are only estimates compiled by the Economic Development Office Compiled by: City of Brampton - Economic Development Office - Business Information & Competitive Policy

8 Economic Indicators: 212 to 216 Brampton Indicators YTD December 216 YTD December 215 YTD December 214 YTD December 213 YTD December 212 2,45 1,466 2,171 1,423 1, Total Construction Value3 $1,961,46,292 $2,748,226,792 $2,26,648,985 $1,392,371,481 $2,655,224,19 Residential Construction Value3 $1,62,72,469 $2,199,427,993 $1,61,833,913 $958,43,543 $2,172,524,763 $175,52,63 $21,476,55 $15,285,725 $194,21,45 $181,287,855 Commercial Construction Value3 $65,425,87 $83,493,369 $145,475,986 $122,618,82 $194,533,64 Institutional Construction Value 3 $96,792,681 $249,822,628 $395,53,91 $114,36,14 $14,67,6 1,964 9,365 8,332 7,99 7,956 $584,676 $488,497 $444,7 $42,847 $44,14 4,44 5,449 4,366 3,71 5, Total Employment1 Total Business1 Unemployment Rate % (Region of Peel)2 Industrial Construction Value 3 Housing Resale Activity4 Average House Price4 Housing Permits (units)3 Industrial Vacancy Rate % (Q4)5 Sources 1. City of Brampton Economic Development Office 2. Statistics Canada, Labour Force Survey, custom tabulation 3. City of Brampton Building Division 4. Monthly MarketWatch (Toronto Real Estate Board) 5. GTA Industrial Market Statistics - (Colliers International) Compiled by: City of Brampton - Economic Development Office - Business Information & Competitive Policy

9 Construction Value Ranking (Mid Year 217) National Rankings Toronto CMA Rankings Total 9th 3rd Industrial 11th 4th Commercial 13th 5th Institutional 18th 2nd Non-Residential 13th 4th Residential 9th 3rd Sources: Building Permits, Statistics Canada As of June 217, the City of Brampton has issued building permits valued at $.8 billion. Total construction value decreased 9.8% since June 216. In terms of national rankings, the City of Brampton dropped from 8th construction value. to 9th for total In terms of rankings amongst cities in Toronto Census Metropolitan Area (CMA), the City of Brampton dropped from 2nd to 3rd for total construction value.

10 Employment Base 6% Over 157, 19% Employment 75% Full-Time Part-Time Contract Serviceproducin g 75% Total employer count was 9,194 as of September 217. Over 9 per cent of the employers had less than 5 employees. As of September 217, total employment was 157,471, of which 118,11 were full-time and 39,46 were either parttime or contract. Over 9, Employers Goodsproducing 25% Sources: Employer Survey, Economic Development Office Major Sectors: Innovation &Technology Health & Life Science Advanced Manufacturing Food and Beverage The three largest private sector employers in Brampton are Rogers Communications Inc., FCA Canada Inc., and Loblaw Companies Ltd.

11 Construction Activity: Commercial Development 1,, 39 9, Square Footage 7, , , , 15 3, 2, 1 1, Commercial Sq. Ft. Location 2 Steelwell Road Number of Projects 8, Permit Type Value $27,, 3 Ace Drive $2,676, Quarry Edge Drive $2,17, 2 Rivermont Road $1,5, 2979 Bovaird Drive East $1,487,4 Sources: Building Permits, City of Brampton Commercial Building Expansion Sq. Ft. Square Feet 145,549 26,553 17,997 15,357 1, (YTD September) Number of Projects User Hilton Garden Inn Brampton Honda Pet Smart Shell building LMC Diabetes and Endocrinology As of September 217, Brampton had 27commercial projects, adding over 4, square feet of commercial floor space.

12 Construction Activity: Industrial Development 3,5, 21 Square Footage 2,5, ,, ,5, 1 1,, 5 5, Industrial Sq. Ft. Location Industrial Building Expansion Sq. Ft. Permit Type Value Square Feet 37 Orenda Road $38,3,4 341,13 User Shell Building 7845 Heritage Road $16,68, 149,632 Shell Building Addition $12,136,8 5,246 Brampton Transit $3,782, 16,56 Canadream 85 Parkshore Drive Addition $2,2, 19,73 Can Art Aluminum Extrusion 26 Westwyn Court Addition $1,648, 14,787 Promax Auto Parts 13 Sandalwood Parkway West 33 West Drive Number of Projects 3,, Sources: Building Permits, City of Brampton (YTD September) Number of Projects As of September 217, Brampton had 14 industrial projects, adding almost 65, square feet of industrial floor space.

13 Construction Activity: Institutional Development 35 1,2, 29 1,, , , 1 3 2, Institutional Sq. Ft. Location 7755 Hurontario Street 7875 Mayfield Road 887 McLaughlin Road South Institutional Building Expansion Sq. Ft. 216 Number of Projects Permit Type Value Square Feet Addition $35,795,2 137,66 User Brampton Courthouse $5,446,448 2,938 Jain Temple Addition $58, 3,165 Flower City Senior's Centre Sources: Building Permits, City of Brampton 217 (YTD September) As of August 217, Brampton had 3 institutional projects, adding over 16, square feet of institutional floor space. Number of Projects Square Footage 8, 3 26

14 Residential Activity Single-Detached Average Home Prices Home Prices (Single-Detached) YTD August 217: $69,625 YTD August 216: $76,727 Average Home Prices - Resale YTD September 217: $71,323 YTD September 216: $579,25 3,5 Townhouse Multiple Unit Building Semi-Detached 3, Detached 2, Units 2,5 Resale Prices (Single-Detached) September 217: $766,132 September 216: $726,223 Single Detached Units by Price (YTD August 217) Units by Type Building Starts (YTD September) $1,, + 4.6% 572 $8, to $999, % ,5 586 Housing Resale Activity (YTD September) 1, $65, to $799, % 86 1, ,817 5 < $5, 1.7% $5, to $649, % 988 6,91 5, Units 1, < $5, $5, -$649,999 $65, -$799,999 $8, -$999,999 $1,, + Sources: Toronto Real Estate Board, Canada Mortgage and Housing Corporation and City of Brampton

15 Economic Development Stories Atlas Healthcare Atlas Global Healthcare Ltd is a Canadian real estate development and consulting company that aims to finance, develop, build and manage privately-owned, world class medical-surgical centres. The City recently approved a new 6 storey medical office building for Atlas that will bring 15 jobs and represents an $8 million investment in the Health Cluster emerging around Peel Memorial. Automotive Retail A new 62,7 square feet Audi dealership is located in Brampton s newest luxury auto mall at Mayfield Road and Highway 41. Total construction cost is estimated at $7 million. In addition, Infinity dealership also invested $2 million in the construction of a brand new 16, square feet facility. Brampton Honda is the newest addition to the auto mall. They are planning to invest $2,676,674 on the construction of a new 26,553 square feet facility. Mixed-Use Developments in the Central Area Redwood Properties is planning to build a 25-storey tower and a 27-storey tower on top of a 3-storey podium accompanied by 1,8 square feet of commercial use. This will result in a $14 million investment in terms of land value and construction cost. Moreover, Cumberland Development is also constructing a 5-storey, 55,7 square feet office tower along with a 23-storey residential tower with 156 units.

16 Economic Development Stories A. Grenville and William Davis Court House Infrastructure Ontario lead the project to construct a 11, square foot, six-storey addition to the already existing courthouse. Two floors will be outfitted immediately to contain new courtrooms and support spaces such as waiting areas and judicial chambers. The remaining floors will provide space for future courthouse developments. Springdale Public Library A new 27,5 square feet library will be located at north-east corner of Bramalea Road and Sandalwood Parkway East. RDH Architects won an award of excellence from Canadian Architect for the design of this facility. This resulted in a $17 million investment for the purchase of land and construction of building. Bramalea Logistics Centre Brand new design-build distribution centre on a 15.2 acre parcel of land with potential for approximately 6,8 square feet of office. The facility will be 341,13 square feet and have over 5 loading doors (with potential for more). The construction cost for this facility is estimated at $38 million. The building will have energy efficient design, 95 trailer parking, 38 feet ceilings, 54 wide bays,

17 THANKS! Any questions?