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by Paul Golini: Chair, BILD

 

 

Under construction: 183 high-rise buildings

There are 183 high-rise buildings under construction across the city right now. That's pretty specific and they're not all residential, according to the City of Toronto's latest economic dashboard report, but the majority are, and we're building more than most major metropolitan cities across North America by leaps and bounds.

The encouraging part is that the latest tally may be a sign that our neighbour to the south is recovering and starting to build again. Major U.S. cities like Chicago, Houston and Miami are building at a better pace than this time last year. For example, last year Houston only had four high-rise buildings under construction and this month, they've got 23.

Not to brag, but Toronto is beating New York and Chicago, which have 75 and 25 high-rise buildings under construction right now, respectively. If you can believe it, New York's construction activity is actually down from last year, when the city had 95 high-rise buildings under construction.

Back at home, the City of Mississauga is on the map with 13 high-rise buildings under construction this month. That's up from seven this time last year.

In the City of Toronto, the value of residential building permits was more than $1.1 billion by the end of last year. What that amounts to this year are jobs, jobs, jobs and not only that, but economic spin-off from wages spent and income taxes collected. And let's not forget that what it all really amounts to is new homes and communities for people like you.

Paul Golini Jr. is Chair of the Building Industry and Land Development Association (BILD). You can read more from Paul and BILD by visiting the Association's official blogTwitterFacebook and Youtube accounts.