Highrises, homes help drive London construction past $1B for 5th straight year

The value of construction in London has blown past the $1-billion mark in 2020 for the fifth straight year, a milestone bolstered by large highrise developments and building of new family homes.

As of the end of September, city hall had issued nearly 3,000 building permits worth $1.06 billion.

But though large industrial projects, such as the Maple Leaf Foods processing plant, helped the city reach that mark in previous years, housing developments are behind London’s latest milestone, said Peter Kokkoros, city hall’s deputy chief building official.

“A significant factor to the $1 billion this year is apartment building construction, whereas last year and the year before, there were some major industrial developments. . . that helped with that number,” he said.

A big booster in 2020 was the approval of Old Oak Properties’ Centro project at 100 Fullarton St., the former Camden Terrace site in London’s core.

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