BRA151248 2015 EcoSnapshot FNL -...
20
MARCH 2015 Economic Snapshot
Transcript of BRA151248 2015 EcoSnapshot FNL -...
MARCH 2015
EconomicSnapshot
01 Messages from Mayor and Chair, Economic Development Committee
02 Economic Highlights
03 Industrial Market Overview
06 Institutional Market Overview
08 Key Developments and Investments
10 Commercial Market Overview
13 Residential Market Overview
16 Entrepreneurship
17 Economic Development and Tourism Office Contacts
17 Social Media
• Brampton has been included in the Top 10 Mid-Sized American Cities of the Future 2015/2016 - Overall winner for FDI strategy and included in the Top 10 in Mid-Sized American cities for Connectivity and Business Friendliness.
• Brampton has a strong economy and is well-positioned for business investment. Its stable marketplace offers competitive energy prices, streamlined regulations and a low-risk investment climate. AAA credit rating from Standard and Poor’s for nine consecutive years.
• First city in the Greater Toronto Area (GTA) and one of only 10 in North America to be designated an International Safe Community by the World Health Organization (WHO).
Table of Contents
Mayor’s Message
Together, we are embarking on a new era in Brampton. We are building on successes from the past and a renewed commitment to the effort and investment needed to build a successful and sustainable economic engine.
Brampton is poised to be a hub of employment fostering specialty business clusters such as Life Sciences and Technology sectors. Representing the leading edge in integrated health care delivery, the new Peel Memorial Centre for Integrated Health and Wellness broke ground in 2014 with phase 1 expected to be completed in 2017. Together with signifi cant investment at the new ErinoakKids Centre for Treatment and Development and our existing health care infrastructure, we are creating a concentration of medical professionals in Brampton, with state-of the-art facilities supporting careers and our whole community.
Investment in many sectors continued in 2014, with Carttera Management starting a new LEED Gold certifi ed distribution centre, and BMW, Mercedes and Volkswagen all beginning construction in Brampton’s newest auto mall. Sheridan College’s Davis Campus launched the Davis Applied Engineering Centre and a new ABB Robotics Centre, introducing new technology ideas and opportunities to Brampton.
These exciting investments represent over $700 million invested in Brampton and there is more to come. Brampton is clearly a city worth investing in, and 2015 offers opportunities for further growth as we focus on management with transparency, partnerships with business and other levels of government, and key sectors with the promise to help propel Brampton to the next level of development.
In the coming years transportation will be a top priority for Brampton given that the province is also committed to dealing with gridlock in the Greater Toronto Hamilton Area. Brampton understands the importance of being able to move our talent around and we understand the importance of moving goods.
Most importantly Brampton’s future will be powered by our diversity. A diverse and dynamic business community defi nes who we are and will also provide a continuous source of innovation, creativity and growth.
Success in 2015 will be facilitated by our ongoing partnerships. By working together, we can unlock the full potential of this great community.
Chair’s Message Brampton is built on innovation and partnerships.Great ideas become reality through connections between thinkers and doers, people sharing a passion for excellence in business, infrastructure and in creativity.
Key developments in recent years have continued that tradition, and we are looking ahead to 2015 and beyond as decisive years to bring Brampton to the next level.
We are building new partnerships with other levels of government to facilitate the development of new transportation and education infrastructure. We are reaching out to Brampton businesses in a spirit of collaboration, looking to strengthen existing connections and build new ones to work together to grow our economy. The diversity of our business community and workforce pushes us out globally to connect with and attract investment in key sectors. We are innovating in the creative economy space, developing new places and connections to strengthen 21st century skills and opportunities.
We need innovators and partners to continue our growth. We’re ready to do business in Brampton.
Jeff BowmanCity Councillor Wards 3 & 4Chair, Economic Development Committee
Linda JeffreyMayor of Brampton
01
The City of Brampton continues to have one of the strongest economies in Canada. Brampton’s economy is expected to continue on its positive economic growth curve in 2015, although at a modest but strengthening pace. Indications are that Brampton’s levels of residential development activity will be strong and non-residential development activity will be on par with 2014, with moderate, steady increases in 2015. Given its strategic location, competitive land values, supply of greenfield lands, and modern infrastructure, the City will continue to hold its place as a location of choice for residents and businesses in the Greater Toronto Area (GTA).
Although the total number of new businesses was down 10 per cent from the previous year, new employment was up over 52 per cent with Brampton attracting 197 new businesses and 2,171 new jobs. The unemployment rate for the Region of Peel rose slightly to 8.2 per cent by the end of 2014 (from 7.6 per cent in 2013). Brampton’s total construction value was projected to be strong in 2014. At over $2.2 billion, the total construction value was up over 62 per cent. Commercial construction activity was up over 18 per cent, industrial construction activity was down just over 45 per cent, while institutional construction was up an incredible 246 per cent. Brampton’s residential construction market was up considerably from the previous year at over $1.6 billion, up 68 per cent from 2013.
Alongside its neighbours in the GTA (Toronto CMA*), Brampton once again finished strong, second only to the City of Toronto in total construction, institutional construction, residential construction, and number of residential units under construction. Overall in the GTA, Brampton ranked third in non-residential activity and fourth in both industrial and commercial activity.
Brampton’s anticipated growth is supported by its Official Plan and a diverse economic base. The City’s vision and strategy continues to be strongly based and equally focused on the redevelopment of the Central Area, and on the attraction of new industrial-commercial development in its strategically located business parks distributed along major infrastructure in the City. A diverse industrial-commercial inventory continues to provide companies of various types and sizes with multiple options. These will continue to increase as additional employment lands become available.
With companies continuing to reinvest and relocate facilities in Brampton, paired with continued redevelopment of the Central Area, the City’s business composition is beginning to shift. While Manufacturing and Logistics/Goods Movement continue as the dominant sectors in the city, headquarters facilities, Food and Beverage, Life Sciences, Business Services, and Information and Communication Technology companies continue to be attracted to the Brampton landscape.* Toronto CMA ( Toronto Census Metropolitan Area0
Win
nip
eg, M
B $
1,65
6,71
0
Van
cou
ver,
BC
$
2,64
1,45
5
Bra
mp
ton
, ON
$
2,27
1,52
3
Mis
siss
aug
a, O
N $
1,14
2,97
2
Ham
ilto
n, O
N $
1,11
8,10
2
1 5 92 6 103 74 8
Source: Statistics Canada, Catalogue no. 64-001-XWF Compiled by the Brampton Economic Development Office
TOTAL CONTRUCTION VALUE IN CANADA
Ranked by dollar value. This table ranks total building activity across the country.
Economic Highlights
ECONOMIC INDICATORSBRAMPTON INDICATORS 2014 2013 VARIANCE (14/13)
Total New Employment 2,171 1,423 52.6%
Total New Business 197 219 -10.0%
Unemployment Rate % (Region of Peel) 8.2 7.6 0.6
Total Construction Value $2,260,648,985 $1,392,371,481 62.4%
Residential Construction Value $1,610,833,913 $958,043,543 68.1%
Industrial Construction Value $105,285,725 $194,210,450 -45.8%
Commercial Construction Value $145,475,986 $122,618,082 18.6%
Institutional Construction Value $395,503,901 $114,306,140 246.0%
Housing Resale Activity 8,332 7,909 5.3%
Average House Price $444,007 $420,847 5.5%
Housing Permits (units) 4,366 3,071 42.2%
Industrial Vacancy Rate % (Q3 2014/2013) 5.9 5.2 0.7
Source: 2014 Building Permit – City of Brampton; Various sources for new business. Compiled by the Brampton Economic Development Office
Toro
nto
, ON
$
7,07
4,10
7
Cal
gar
y, A
B
$6,
176,
990
Mo
ntr
éal,
QC
$
4,8
41,3
80
Edm
on
ton
, AB
$
4,5
32,3
08
Ott
awa,
ON
$
2,59
1,14
2
02
197New Businesses
2171New Jobs
7th LargestConstruction Market
in Canada
INDUSTRY: Distribution/Logistics INVESTMENT: $59 million* ¡ JOBS: 500
Carttera ManagementCarttera Management’s new 900,000 square foot industrial building is located at 8875 Torbram Road just south of Queen Street East. The site, formerly occupied by the HBC Distribution Centre, will be home to Carttera’s new speculative, LEED Gold distribution centre valued at $59 million*. Carttera is a Canadian real estate funds manager. * Construction cost plus land value
In 2014, Brampton’s industrial construction market consisted of four new buildings, totaling over 1 million square feet and seven additions to existing industrial facilities totaling 87,000 square feet. At over $105 million* in construction value, the total industrial investment market was down 46 per cent from the previous year, due in part to a very strong year in industrial construction in 2013.
According to Statistics Canada’s national construction value rankings, Brampton’s industrial construction activity ranked fourth in the Greater Toronto Area (Toronto CMA) and was ninth overall in Canada, having finished fourth overall in Canada the previous year.* Total includes: new buildings, additions, alterations and miscellaneous.
INDUSTRIAL CONSTRUCTION ACTIVITY – 2014
USER LOCATION
PERMIT
TYPE VALUE
SIZE
(SQ. FT.)
Speculative Building - Carttera
8875 Torbram Road New $25,000,000 895,310
North American Steel
20 Production Road New $8,200,000 140,045
Trailcon Leasing
15 Spar Drive Addition $6,650,000 28,929
Toromont Industries
268 Orenda Road Addition $2,500,000 2,799
Van Der Graaf 2 Van Der Graaf Crt Addition $2,000,000 18,155
Glide Car Wash
8980 Goreway Drive New $1,200,000 1,808
Packall Packaging
2 Shaftsbury Lane Addition $1,100,000 6,997
Ryder Logistics & Tansportation
10A Tilbury Court Addition $1,000,000 11,087
Daybar Industries
50 West Drive Addition $850,000 17,026
Pro Oil Change
9924 Airport Road New $700,000 3,428
Skjodt Barrett Foods
5 Precidio Court Addition $250,000 1,823
TOTALS NEW $35,100,000 1,040,591
ADDITIONS $14,350,000 86,816
TOTAL $49,450,000 1,127,407
Source: City of Brampton Building Division, 2014
INDUSTRIAL LAND SALES – 2014PROPERTY ADDRESS SALE PRICE ACRES PRICE PER ACRE
8875 Torbram Road $34,250,000 37.52 $912,800
Epic Drive $13,888,263 15.91 $872,900
Intermodal Drive $7,533,440 9.56 $788,017
Steelwell Road $7,250,000 7.25 $1,000,000
Ace Drive $6,202,760 4.78 $1,297,600
191 Mayfield Road $4,777,000 3.42 $1,396,784
Delta Park Boulevard $1,400,000 1.91 $732,984
1 Edvac Drive $1,395,000 1.56 $894,231
TOTAL $76,696,463 81.91
AVERAGE PRICE PER ACRE $986,915
Source: The Marsh Report, 2014
Industrial Market Overview
03
Vau
gh
an, O
N $
49,9
91
Pete
rbo
rou
gh
, ON
$50
,750
Vau
dre
uil-
Do
rio
n, Q
C $
254,
212
Mis
siss
aug
a, O
N
$20
8,70
3
Cal
gar
y, A
B
$11
8,10
1
Mo
ntr
éal,
QC
$10
1,63
1
Oak
ville
, ON
$10
3,88
7
Gre
ater
Su
db
ury
, ON
$83
,969
Lava
l, Q
C $
73,1
96
Bra
mp
ton
, ON
$67
,032
Edm
on
ton
, AB
$58
,917
Stra
thco
na
Co
un
ty, A
B $
57,2
94
New
Tec
um
seth
, ON
$54
,481
Toro
nto
, ON
$34
1,75
6
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Industrial Market Overview
INDUSTRY: Advanced ManufacturingINVESTMENT: $1 million JOBS: 70
Algood invests $1M in new facility
Founded in 1969, Algood Caster Innovations has moved its industrial casters manufacturing facility to a new 5,574 square foot facility in Brampton and bought itself a $1 million gift for its 45th anniversary. Algood installed more than 2,000 rack spaces; 70 T5 light fixtures; and laid hundreds of metres of wiring. The new facility will better integrate its in-house manufacturing operations and double its output.
RANKED 9th in Canada
4th in the GTA
INDUSTRY: Life Sciences INVESTMENT: $7 million
JOBS: 140
Taro Pharmaceutical Industries Inc.
Taro Pharmaceutical Industries Inc. a research-based pharmaceutical company that develops and manufactures prescription and over-the-counter pharmaceuticals has been awarded $7 million from the province towards new manufacturing and R&D equipment to expand research and production at its Brampton facility, creating up to 140 new jobs and retaining 395 positions. The investment will increase Taro’s plant capacity by 50 per cent and potentially double the number of products it brings to market. Integrating R&D into the manufacturing process will help the firm boost efficiency and stay competitive.
04
Source: Statistics Canada, Catalogue no. 64-001-XWF, Dec 2014. Compiled by the Brampton Economic Development Office
INDUSTRIAL CONSTRUCTION VALUE IN CANADA – 2014
(In ‘000s)Brampton’s industrial construction value in 2014 was worth over
$73 million, putting Brampton 9th in the industrial category.
INDUSTRY: Distribution/LogisticsINVESTMENT: $42 million
JOBS: 500
Unilever
The new award winning Unilever distribution facility, at 7900 Airport Road generated a $42 million investment in Brampton. The 750,000 square foot warehousing, distribution, and co-packaging centre represents a consolidation and expansion of several Unilever facilities in the Greater Toronto Area and brings approximately 500 jobs to the City of Brampton. Unilever is the world’s leading supplier of food, home and personal care products.
INDUSTRIAL BUILDING SALES – 2014
PROPERTY ADDRESS SALE PRICE SIZE SQ. FT. $/SF
1895 Williams Parkway $22,500,000 159,506 $141
107 Alfred Kuehne Boulevard $16,500,000 192,712 $86
735 Intermodal Drive $14,800,000 159,540 $93
100 Rutherford Road South $13,410,000 295,200 $45
300 Biscayne Crescent $11,700,000 31,606 $370
134 Kennedy Road South $9,700,000 157,000 $62
303 Orenda Road $9,435,000 290,000 $32
321 Orenda Road $6,750,000 45,760 $148
135 East Drive $6,634,800 75,000 $88
40 B Hansen Road South $6,100,000 41,815 $146
30 Lethbridge Drive $5,450,000 11,281 $483
7656 Bramalea Road $5,300,000 198,552 $27
270 Orenda Road $4,770,000 64,114 $74
50 Bramtree Court $4,318,600 38,000 $114
10 Indell Lane $3,550,000 15,462 $230
15 Blair Drive $3,500,000 25,779 $136
90 Hedgedale Road $2,620,000 21,500 $122
247 Summerlea Road $2,550,000 18,750 $136
21 Selby Road $2,200,000 7,000 $314
75 Hale Road $1,965,000 19,340 $102
37 Sun Pac Boulevard $1,915,000 16,802 $114
24 Edvac Drive $1,850,000 16,000 $116
278 Orenda Road $1,850,000 18,500 $100
227 Wilkinson Road $1,700,000 20,000 $85
2 Bram Court $1,675,000 16,629 $101
71 Selby Road $1,600,000 10,043 $159
73 Eastern Avenue $1,500,000 5,265 $285
39 Hale Road $1,175,000 10,500 $112
TOTAL $167,018,400 1,981,656
AVERAGE PRICE PER SQUARE FOOT $145
Source: The Marsh Report, 2014 Source: City of Brampton Building Division, 2014
2004
$2
08.7
1
2005
$3
02.6
9
2006
$
82.8
9
2007
$2
02.3
1
2008
$1
27.8
2
2012
$1
81.2
9
2013
$1
94.2
1
2014
$1
05.2
9
2009
$7
1.4
4
2010
$
82.1
1
2011
$
44.
60
INDUSTRIAL CONSTRUCTION ACTIVITY
Total Construction Value, 2004-2014 Current Dollars
($Million)
05
INDUSTRY: Public Health CareINVESTMENT: $530 million*JOBS: 700
Peel Memorial Centre for Integrated Health and WellnessOn June 26, 2014 the offi cial ground-breaking ceremony was held for Phase 1 of the new 350,000 square foot Peel Memorial Centre for Integrated Health and Wellness located at 20 Lynch Street in Downtown Brampton. The facility is expected to be completed in the fall of 2017 and will be staffed by approximately 500 full time emplyees in 2017 and is expected to expand to 600,000 square feet with over 700 employees over the following 10 years. The Centre will provide specialized outpatient-based care including urgent care, day surgery, and clinics that help individuals better manage chronic conditions such as asthma, diabetes and kidney disease. The Peel Memorial’s Urgent Care Centre will assist to alleviate pressures on the emergency department at Brampton Civic Hospital and help patients with non-life-threatening illnesses.* Construction costs plus land value.
BRAMPTON TRANSIT | Züm
Züm is Brampton’s innovative rapid transit bus system (BRT) that connects Brampton’s businesses and workforce to the Great Toronto Area. It provides seamless Integration with all Brampton Transit buses, meaning riders can move between the two services with ease and at no additional cost. The launch of Züm has clearly had a positive impact on the Brampton Transit brand and its ridership growth. In 2014, more than 20 million rides were taken on Brampton Transit, a fi ve per cent increase in ridership over 2014.
Institutional Market Overview
INDUSTRY: Public Health CareINVESTMENT: $60 million*
JOBS: 250
ErinoakKids Treatment and Development Centre The new Brampton ErinoakKids Centre for Treatment and Development provides treatment, rehabilitation and support services to children with disabilities and will be the largest of the three new ErinoakKids facilities. Set to open in early 2017, the new 121,000 square foot Brampton facility will house 250 staff on an 8-acre parcel of land that backs onto a forested area and natural stream, offering opportunities for outdoor treatment sessions and activities.* Construction costs plus land value.
06
Sheridan CollegeNew Skilled Trades Centre
Sheridan’s Davis Campus has recently opened the Davis Applied Engineering Centre (DAEC). Given that tradespeople are the driving force behind the world’s constructed infrastructure, creating a learning facility for creators is an essential part of the puzzle. The DAEC will function as a ”living laboratory” in which students and interdisciplinary experts jointly participate in new technologies and strategies for design.
Sheridan College opens the new ABB Robotics Centre at the Davis Campus in Brampton. The purpose behind the new ABB Robotics Centre is about fi nding more innovative ways to drive productivity and competitiveness in Canada’s manufacturing sector. The new production environment at the Centre of Advanced Manufacturing and Design Technology (CAMDT) ABB Robotics Centre is designed to serve both as a teaching platform for students and testing ground for local business.
INDUSTRY: InstitutionalINVESTMENT: $20 millionJOBS: 120
Gore Meadows Library and Community CentreThis 70,000 square foot facility located at 10150 The Gore Road, is comprised of a 35,000 square foot library, and a 35,000 square foot community centre. Included in the community centre is a gymnasium with bleacher seating, a fi tness room and a fi t zone, as well as program space. Outdoor amenities include a reading garden, basketball courts and accessible playground.
RANKED
2nd in the GTA
6th in Canada
07
Miss
issau
ga R
d
Queen St W
Bram
alea
Rd
Queen St E
The
Gor
e R
oad
107
50
Mar
itim
eO
ntar
io B
lvd
13 1
2
3
10
15
11
12
14
16
17
7
5
4
8 96
Key Developments and Investments
111
08
10
Bram
alea
Rd
Bram
alea
Rd
Queen St EQueen St E 107107
Mar
itim
eO
ntar
io B
lvd
15
11
13 12
14
Key Developments and InvestmentsKey Developments and Investments
Miss
issau
ga R
d
Queen St W
Bram
alea
Rd
Queen St E
The
Gor
e R
oad
107
50
Mar
itim
eO
ntar
io B
lvd
13 1
2
3
10
15
11
12
14
16
17
7
5
4
8 96
LEGEND
1 Orlando Corporation, Churchill Business Community: 5 spec buildings, over 1.8 million sq. ft., Newest tenant Amazon.
2 Canon Canada Inc. new Canadian head offi ce: 3 buildings, 190,000 sq. ft. each,$66 million** investment.
3 FP Commercial Developments: 77,096 sq. ft., $8.4 million*.
4 Excel Canada Ltd.: addition of 138,919 sq. ft. to existing 625,000 sq. ft. distribution centre, $7 million* investment.
5 Southwest Quadrant Renewal: 126,398 sq. ft. of offi ce and 10,147 sq. ft. of retail.
6 Kapil: Redevelopment of 6 George Street South., 4,400 sq. ft. commercial building.$235,000* investment.
7 A. Grenville and William Davis Court House: 6 storey expansion, 110,000 sq. ft. Completion in 2017.
8 Peel Memorial Centre for Integrated Health and Wellness: completion in 2017.
Phase one 350,000 sq.ft. facility. $530 million** investment. (600,000 sq.ft.)
9 Supportive Housing in Peel, (SHIP Building): 205 units, 30,000 sq. ft., mixed-use retail/
offi ce/residential, $40 million* investment.
10 Bramgate Volkswagen: New 50,000 sq. ft. facility scheduled to open in the spring of 2015.
$12 million** investment.
BMW: 61,000 sq. ft. facility scheduled to open May 2015. $15 million** investment.
Mercedes-Benz: 62,000 sq. ft. facility schedule to open May 2015. $17 million** investment.
11 Carttera Management Inc.: New 900,000 sq. ft. industrial facility. $59 million** investment.
12 Unilever (IBI Group): New Distribution/Warehousing Centre, over 750,000 sq. ft.
$42 million** investment.
13 North American Steel: New 140,000 sq. ft. industrial facility. $8.2 million* investment.
14 CN Rail, Brampton Intermodal Terminal: redevelopment of 60,000 sq. ft. warehouse
into a two-storey offi ce building. $8.3 million* investment.
15 Ontario Transportation Centre Corporation: 28,929 sq. ft. addition. $6.6 million* investment.
16 ErinoakKids Treatment and Development Centre: 121,000 sq. ft. facility on 8 acres, set to open in 2017. $60 million** investment.
17 Gore Meadows Library and Community Centre: 70,000 sq. ft. facility .$20 million* investment.
* Construction costs ** Construction costs and land value
COLOUR KEY
INDUSTRIAL COMMERCIAL/RETAIL
INSTITUTIONAL MIXED-USE
2014 total construction was a
$2.2 billioninvestment in Brampton
16 17
09
17
The
Gor
e R
oad
The
Gor
e R
oad
The
Gor
e R
oad
50
Commercial Market OverviewNew construction dominated Brampton’s commercial market in 2014. With 38 new commercial projects and 4 additions, close to 685,000 square feet of floor space was added to the commercial inventory. At over $145 million* in construction value, the total commercial investment market was up over 18 per cent from the previous year.
According to Statistics Canada’s national construction value rankings, commercial construction activity in Brampton ranked fourth in the Greater Toronto Area (Toronto CMA) after Toronto, Mississauga and Vaughan respectively and twelfth overall in Canada.* Total includes: new commercial projects, additions, alterations and miscellaneous.
Source: City of Brampton Building Division, 2014
COMMERCIAL CONSTRUCTION ACTIVITY – 2014USER LOCATION PERMIT TYPE VALUE SIZE (SQ. FT.)
Mercedes-Benz - Dealership 10 Zagway Crescent New $10,000,000 62,334BMW - Dealership 5 Zagway Crescent New $10,000,000 61,397The Home Depot 9515 Mississauga Road New $9,700,000 97,010Bramgate Volkswagen - Dealership 15 Zagway Crescent New $7,000,000 49,226Longo's 65 Dufay Road New $4,900,000 44,468Retail Building 80 Maritime Ontario Boulevard New $4,500,000 48,897Retail Building 10970 Bramalea Road New $3,500,000 11,883Mac's Convenience 10980 Bramalea Road New $3,500,000 11,883Canadian Convention Centre 79 Bramsteele Road Addition $3,500,000 1,421Retail Building 2 Dewside Drive New $3,351,600 30,073Multi-tenant Retail 305 Royal West Drive New $3,200,000 12,239Multi-tenant Retail 315 Royal West Drive New $3,200,000 11,485Value Village 2975 Bovaird Drive East New $2,726,000 24,456Shopper's Drug Mart 10665 Bramalea Road New $2,200,000 19,049Multi-tenant Retail 35 Resolution Drive New $1,800,000 12,577McDonald's 10565 Bramalea Road New $1,800,000 5,920Multi-tenant Retail 45 Dusk Drive New $1,700,000 15,856Retail Building 20 Dewside Drive New $1,552,800 14,010Retail Building 40 Maritime Ontario Boulevard New $1,500,000 7,298Multi-tenant Retail 9525 Mississauga Road New $1,500,000 14,000Retail Building 85 Resolution Drive New $1,402,445 7,579Retail Building 100 Maritime Ontario Boulevard New $1,400,000 12,927Multi-tenant Retail 25 Gateway Boulevard New $1,200,000 9,156Multi-tenant Retail 8005 Financial Drive New $1,200,000 10,097Multi-tenant Retail 8015 Financial Drive New $1,100,000 16,393Retail Building 6 Dewside Drive New $745,500 6,690Multi-tenant Retail 55 Dusk Drive New $700,000 6,955Retail Building 60 Maritime Ontario Boulevard New $675,000 5,438Retail Building 10 Dewside Drive New $673,200 6,112Bank of Montreal 10575 Bramalea Road New $625,000 4,468Retail Building 10585 Bramalea Road New $625,000 8,255Retail Building 30 Maritime Ontario Boulevard New $622,000 5,156Retail Building 105 Dufay Road New $618,000 5,546Retail Building 50 Maritime Ontario Boulevard New $598,000 4,976Wendy's 8960 Highway 50 New $500,000 2,948Retail Building 70 Maritime Ontario Boulevard New $486,000 3,888Mac's Convenience 2439 Steeles Avenue East New $400,000 3,952Esso Car Wash 35 Cherrycrest Drive New $350,000 1,130Multi-tenant Retail 65 Dusk Drive New $350,000 3,566Songbirds Montessori 49 Wellington Street West Addition $85,000 562Primont Homes 10629 Mississauga Road Addition $22,000 3,107Asian Food Centre 10 Pannahill Drive, Unit 1 Addition $20,000 428TOTALS NEW $91,900,545 679,294
ADDITIONS $3,627,000 5,518
TOTAL $95,527,545 684,812
10
RANKED
4th in the GTA12th in Canada
COMMERCIAL LAND SALES – 2014LOCATION SALE PRICE ACRES PRICE PER ACRE
11953 Creditview Road $8,250,000 10.82 $762,500
McLaughlin Road $5,663,776 3.74 $1,514,379
Bramalea Road (Dewside Dr.) $5,274,600 4.41 $1,196,100
Ace Drive $4,287,638 4.30 $997,125
Docksteader Road $4,101,747 4.83 $849,223
Mississauga Road $3,150,004 3.29 $957,400
Castlemore Road $2,650,000 2.31 $1,147,186
4538 Castlemore Road $2,550,000 2.23 $1,143,500
TOTAL $35,927,765 35.93
AVERAGE PRICE PER ACRE $1,070,927
Source: The Marsh Report, 2014
COMMERCIAL BUILDING SALES – 2014
LOCATION SALE PRICE SIZE SQ
FT
PRICE PSF
2830 Queen Street East $10,700,000 124,079 $86
1 Wexford Road $6,800,000 20,359 $334
205 Van Kirk Drive $5,300,000 16,014 $331
9886 Torbram Road $5,195,000 21,217 $245
220 Wexford Road $5,050,000 14,500 $348
368 Queen Street East $4,019,317 5,000 $804
230 Sandalwood Pkwy E. $3,950,000 13,721 $288
27 Ruth Avenue $3,920,000 16,000 $245
75 Clarence Street $1,650,000 7,440 $222
791 Bovaird Drive $1,584,000 4,153 $381
25 Main Street North $1,100,000 5,500 $200
TOTAL $49,268,317 247,983
AVERAGE PRICE PER SQUARE FOOT $317
Source: The Marsh Report, 2014
INDUSTRY: Commercial ICT Headquarters INVESTMENT: $66 million* JOBS: 1,500 (500 jobs in phase 1 of 3)
Ground Breaking at New Headquarters for Canon Canada Inc.
Canon Canada Inc. broke ground on its new state-of-the-art corporate headquarters with the opening slated for spring 2016. Built on more than 18 acres located at the corner of Mississauga Road and Steeles Avenue West, the new five-storey, 190,000 square foot headquarters will replace the company’s current office on Dixie Road in Mississauga.
“Our vision for Canon Canada’s Headquarters goes beyond being an infrastructure investment or a building where our employees work,” said Ted Egawa, Canon Canada president and CEO. “We want our new headquarters to become a community for our employees and for our customers.”
* Construction costs plus land value
INDUSTRY: Commercial Administration INVESTMENT: $8.3 millionJOBS: 350
CN Intermodal – Administration Building
Construction has been completed on the 25-year-old CN Rail warehouse in Brampton. The $8.3 million project, transformed the 60,000 square foot warehouse into a modern two-storey office building for approximately 350 people.
11
INDUSTRY: Retail INVESTMENT: $44 million* JOBS: 350
Brampton’s New Luxury Auto Mall
Brampton’s newest auto mall located at Mayfield Road and Highway 410 will be home to prestige brand dealerships.
Mercedes-Benz – In October Mercedes-Benz Canada celebrated the ground breaking of the first-ever Mercedes-Benz dealership in Brampton. The construction of the new 62,000 square foot state-of-the-art retail facility began in August and is scheduled to open in May 2015. $17 million* investment.
BMW – Brampton broke ground on its first BMW dealership. The construction of the new 61,000 square foot state-of-the-art retail facility will be the 46th BMW retailer in Canada when its doors open in late 2015. $15 million* investment.
Volkswagen – Bramgate Volkswagen broke ground on its new state-of-the art 50,000 square foot facility in Brampton’s newest Auto mall. Operating since 1967, Bramgate Volkswagen is the longest standing car dealership in Brampton and celebrating its 47th year in business. Construction is scheduled through 2015, with the grand opening planned for late fall of 2015. $12 million* investment.
*Construction costs plus land value.
Source: Statistics Canada, Catalogue no. 64-001-XWF, Dec 2014. Compiled by the Brampton Economic Development Office
Cal
gar
y, A
B
$1,
982,
377
Toro
nto
, ON
$
1,96
3,98
7
Edm
on
ton
, AB
$
1,04
3,22
1
Mo
ntr
éal,
QC
$
867,
773
Van
cou
ver,
BC
$
740,
385
Ott
awa,
ON
$
651,
718
Win
nip
eg, M
B
$55
7,93
9
Mis
siss
aug
a, O
N
$4
48,
584
Vau
gh
an, O
N
$32
9,59
1
Surr
ey, B
C
$28
1,30
5
Ham
ilto
n, O
N
$25
7,88
7
Bra
mp
ton
, ON
$
240,
136
Reg
ina,
SK
$
228,
838
Sask
ato
on
, SK
$
207,
345
Mar
kham
, ON
$
198,
665
Osh
awa,
ON
$
187,
981
St. J
oh
ns,
NL
$1
85,0
26
Hal
ifax
, NS
$1
71,3
62
Bu
rnab
y, B
C
$16
8,52
0
Qu
ébec
, QC
$
164,
606
Oak
ville
, ON
$
162,
420
COMMERCIAL CONSTRUCTION VALUE IN CANADA– 2014
(In ‘000s)
12
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Commercial Market Overview
INDUSTRY: Retail INVESTMENT: $44 million* JOBS: 350
Brampton’s New Luxury Auto Mall
Brampton’s newest auto mall located at Mayfield Road and Highway 410 will be home to prestige brand dealerships.
Mercedes-Benz – In October Mercedes-Benz Canada celebrated the ground breaking of the first-ever Mercedes-Benz dealership in Brampton. The construction of the new 62,000 square foot state-of-the-art retail facility began in August and is scheduled to open in May 2015. $17 million* investment.
BMW – Brampton broke ground on its first BMW dealership. The construction of the new 61,000 square foot state-of-the-art retail facility will be the 46th BMW retailer in Canada when its doors open in late 2015. $15 million* investment.
Volkswagen – Bramgate Volkswagen broke ground on its new state-of-the art 50,000 square foot facility in Brampton’s newest Auto mall. Operating since 1967, Bramgate Volkswagen is the longest standing car dealership in Brampton and celebrating its 47th year in business. Construction is scheduled through 2015, with the grand opening planned for late fall of 2015. $12 million* investment.
*Construction costs plus land value.
In 2014, Brampton’s residential construction market was up considerably from the previous year resulting in the fifth largest residential construction market in Canada and the 2nd largest residential construction market in the Toronto CMA. A total of 4,367 residential units were created, valued at over $1.61 billion. This represents a 68 per cent increase over 2013.
According to the Toronto Real Estate Board, the residential resale market in Brampton recorded 8,332 sales of residential dwellings by year-end 2014 with an average selling price of $444,007. Overall, the resale market was up from the the number of sales in 2013 (5.3 per cent), with an average sales price increase of 5.5 per cent.
TOTAL RESIDENTIAL UNITS CREATED IN TORONTO CMA
The following table ranks total residential activity across the country
RANK CITY # OF
RESIDENTIAL UNITS
1 Toronto, ON 16,949
2 Brampton, ON 4,367
3 Markham, ON 2,753
4 Milton, ON 1,478
5 Oakville, ON 1,408
6 Richmond Hill, ON 1,257
7 Mississauga, ON 1,167
8 Vaughan, ON 906
9 Ajax, ON 595
10 New Tecumseth, ON 484
Source: Statistics Canada, Catalogue no. 64-001-XWF. Compiled by the Brampton Economic Development Office.
TOTAL RESIDENTIAL VALUE IN CANADA
Ranked by dollar valueThe following table ranks total building
activity across the country
RANK CITY $ VALUE
(IN ‘000s)
1 Toronto, ON $4,368,127
2 Calgary, AB $3,661,208
3 Edmonton, AB $2,981,498
4 Ottawa, ON $1,688,969
5 Brampton, ON $1,606,670
6 Montréal, QC $1,529,014
7 Vancouver, BC $1,410,363
8 Winnipeg, MB $865,741
9 Surrey, BC $701,780
10 Hamilton, ON $664,052
Source: Statistics Canada, Catalogue no. 64-001-XWF. Compiled by the Brampton Economic Development Office.
TOTAL RESIDENTIAL UNITS CREATED IN CANADA
The following table ranks total residential activity across the country
RANK CITY # OF
RESIDENTIAL UNITS
1 Toronto, ON 16,949
2 Calgary, AB 12,914
3 Edmonton, AB 12,565
4 Montréal, QC 8,254
5 Ottawa, ON 7,150
6 Vancouver, BC 5,237
7 Winnipeg, MB 4,766
8 Brampton, ON 4,367
9 Surrey, BC 3,131
10 Québec, QC 3,079
Source: Statistics Canada, Catalogue no. 64-001-XWF. Compiled by the Brampton Economic Development Office.
RANKED 2nd in
the GTA5th in
Canada
Residential Market Overview
13
Un
its
201320140
2,000
4,000
6,000
8,000
10,000
621
4,626
1,698
491
422
4,486
1,718
Source: Toronto Real Estate Board, 2013/2014
489
898792
Un
its
201320140
500
100
1,000
1,500
2,000
2,500
3,500
4,500
3,000
4,000
Source: Toronto Real Estate Board, 2013/2014
RESALE ACTIVITY BY TYPE – 2014
Att/Row/Townhouse
Condo Apt
Semi-Detached
Detached
Other
NEW UNITS BY TYPE BUILDING STARTS – 2014
Townhouse
Multiple Unit Building
Semi-Detached
Detached
2,248
812
11
1,295
1,432
498
360
781HOUSING RESALE ACTIVITY – 2014
0 5000 10000
2013 7,909
2014 8.332
Source: Toronto Real Estate Board, 2013/2014
In 2014 new home starts, by type, saw a significant increase over 2013 in all categories with the exception of multiple unit buildings. Detached dwelling starts were up over 56 per cent, semi-detached were up over 63 per cent and townhouse dwellings were up over 65 per cent from the previous year.
14
RESIDENTIAL LAND SALES – 2014
PROPERTY ADDRESS SALE PRICE ACRES PRICE PER ACRE
Countryside Drive $13,250,000 26.24 $505,000
10194 Heart Lake Road $10,750,000 22.47 $478,416
Castlemore Road $8,200,000 22.72 $360,900
Torbram Road $7,750,000 10.11 $766,600
Mayfield Road $7,450,000 9.87 $754,800
Clarkway Drive $7,021,627 19.52 $359,700
11223 Torbram Road $7,000,000 9.89 $707,786
Good Hope Road $6,145,425 6.45 $952,779
10253 McVean Drive $5,500,000 10.02 $548,900
10742 Clarkway Drive $4,125,000 10.23 $403,226
9452 The Gore Road $3,200,000 3.70 $864,900
1342 Queen Street West $2,900,000 6.11 $474,600
8 Dilworth Chase Road $1,343,712 0.29 $4,633,490
7631 Creditview Road $1,160,000 4.51 $257,206
AVERAGE PRICE PER ACRE $862,022
Source: The Marsh Report, 2014
NEW HOME PRICES
2014
$591,9682013
$576,924
RESALE PRICES
2014
$526,3332013
$503,346
SINGLE-DETACHED AVERAGE HOME PRICES AVERAGE HOME PRICES-RESALE
Source: Toronto Real Estate Board, December 2014
Source: Canada Mortgage and Housing Corporation, January 2015
NEW SINGLE DETACHED UNITS BY PRICE – 2014
15
$450,000 to
> $549,999
29.3%
<450,000
13.7%$650,000
to $799,999
19.4%
$550,000 to
$649,999
31.5%
$800,000
6.2%
2014
$444,0072013
$420,847
Entrepreneurship
In 2014, the Brampton Entrepreneur Centre (BEC) delivered:
26 Summer Company Students, received training, mentoring and provincial grants of $3,000 each*
7 Starter Company youth received training, mentoring and provincial grants of $5,000 each*
*Provincial programs
403Consultations
86 Jobs Created
54Business start-ups
1,216entrepreneurs attended
104Seminars
7,255Client Inquiries
16
Dennis Cutajar, Chief Operating Offi cer Phone: 905-874-2698
Sohail Saeed, Director, Economic Development & TourismPhone: 905-874-3849
Jessica Hale, Administrative Assistant to DirectorPhone: 905-874-5104
BUSINESS DEVELOPMENT AND MARKETING
Nancy Johnston, Manager, Business Development & MarketingPhone: 905-874-3375
Andrea Thomson, Marketing Co-ordinatorPhone: 905-874-2649
Mark Burns, Business Development ICI Co-ordinator Phone: 905-874-5250
Amanda Laird, Special Projects Co-ordinatorPhone: 905-874-2654
BUSINESS INFORMATION & COMPETITIVE POLICY
Jeffrey Baines, Manager, Business Information & Competitive PolicyPhone: 905-874-2660
Daniel Bishun, Co-ordinator, Business Information & Competitive PolicyPhone: 905-874-2004
Tyson Ma, Market AnalystPhone: 905-874-3903
TOURISM & FILM SERVICES
Sharon Wilcox, Manager, Tourism & Film Services Phone: 905-874-2637 Email: fi [email protected]
Michael Ciuffi ni - Specialist Film and TourismPhone: 905-874-3361
CREATIVE ECONOMY
Kelly Stahl, Senior Advisor, Creative EconomyPhone: 905-874-5941
FOREIGN INVESTMENT
Cassandra Baccardax, Senior Foreign Investment AdvisorPhone: 905-874-3693
OFFICE OF THE CENTRAL AREA
Central Area Business NeedsPhone: 905.874.3577 Email: [email protected]
BRAMPTON ENTREPRENEUR CENTRE
Denise McClure, Manager, Entrepreneurial ServicesPhone: 905-874-2667
Jennifer Vivian, Business AdvisorPhone: 905-874-3630
Sabrina Chirco, Youth Business AdvisorPhone: 905-874-5936
Lisa Rossetti, Business AssistantPhone: 905-874-2632
Brampton Entrepreneur CentrePhone: 905-874-2650 Email: [email protected]
Economic Development Offi ce social media outlets as of Dec 31, 2014
Economic Development
Followers:2014: 2,2642012: 912
Connections:2014: 1,1202012: 526
Views:2014: 23,8202012: 4,974
twitter/bramptonecodev linkedin.com/in/bramptoneconomicdevelopment
youtube.com/bramptonecodev
Social Media
54
17
City of Brampton Economic Development Office2 Wellington Street West, Brampton, ON, Canada L6Y 4R2T: 905.874.2650 TF: 1.888.381.BRAM E: [email protected]
twitter/bramptonecodev
youtube.com/bramptonecodev
linkedin.com/in/BramptonEconomicDevelopment
peoplepoweredeconomy.ca
