Here are Oakville’s most valuable commercial and industrial developments

Almost everywhere you go in Oakville you’ll see construction or a new building taking shape.

From high-rise condominiums and apartments to new office and industrial developments, economic activity remains strong.

According to Oakville’s active construction map, there are currently over 1,900 building permits where the town has been actively conducting inspections of site activity.

Of these, 86 per cent are for residential properties.

But major commercial and industrial development has played an important role in the growth of the town. Last year, these developments brought in $45.4 million in tax revenue.

According to the Economic Development Department, which monitors annual commercial and industrial development activity, Oakville’s non-residential tax base represents 13.65 per cent of the total assessment base and contributes 20.10 per cent of all town taxes levied.

There were several major non-residential development projects in 2022. Here are the top 10 commercial and industrial development projects last year, based on the highest total building permit construction value.

1. Tafia Developments – Industrial new single-storey, multi-unit industrial buildings on 65, 71, 83 & 89 Loyalist Trail in Ward 7. The 167,684 sq. ft. project had a construction value of $12.5M.
2. FCT Canada – Interior alterations were done on the company office located at 2235 Sheridan Garden Dr. The renovation on the 85,024 sq. ft. facility in Ward 7 had a construction value of $8M.
3. Hotel – Construction of a new five-storey hotel (pictured below) with up to 100 rooms on a 1.5 acre lot located at 2913 Sherwood Heights Dr. The 62,151 sq. ft. project in Ward 3 has a construction Value of $8M.
4. Industrial building – The new one-storey industrial building by Melrose Investments is located in Ward 1 on 3278 South Service Rd. W. The 121,665 sq. ft has a construction value of $7.5M.
5. Industrial building –The new one-storey industrial building by Melrose Investments is located in Ward 1 on 3518 Wyecroft Rd. The 46,027 sq. ft facility has a construction value of $7.5M.
6. Black Dog Development – The new multi-use, two-storey building has office space and condominiums and is located in Ward 6 at 1939 Ironoak Way. The 39,977 sq. ft facility has a construction value of $6M.
7. Collins Aerospace – The local company expanded its industrial building located in Ward 2 at 1400 South Service Rd. W. The 10,215 sq. ft facility has a construction value of $5M.
8. Food Basics – The new grocery store is located in Ward 1 at 3525 Rebecca St. The 34,517 sq. ft retail facility has a construction value of $3.9M.
9. Uptown Core – The retail store made improvements to its Ward 5 location at 234 Hays Blvd. The 165,981 sq. ft facility has a construction value of $2.4M.
10. CIBC Wealth Management – The tenant fit-out, which included the completion of interior floor plans, was done at the bank office located in Ward 6 at 2275 Upper Middle Rd. E. The 5,856 sq. ft facility has a construction value of $1.5M.

Commercial development activity increased overall in 2022 with total square-footage and construction values high than in 2021. Last year 222 permits where handed out for construction work on 1,222,021 square ft. with a construction value of $77.6M.

New commercial development activity accounted for a total of 206,188 sq.ft. of total development and includes new multi-use office condos in the iQ2 development on Ironoak Way.

Industrial development activity in 2022 reflects a decrease in building permit construction values from 2021; however the total construction value remains higher than the five-year average at $44.9M.

Some 36 permits were handed out in 2022 for work on projects totaling 449,188 sq. ft.

Oakville’s industrial market continues to grow with new development activity accounting for 78 per cent of total square-footage of building permit activity and totalling 351,134 sq. ft.

Major industrial development projects will bring new space to a high-demand market, and include five new single-storey industrial buildings on Loyalist Trail in North Oakville and two new single-storey industrial buildings in Melrose Investments’ Burloak Business Park.