What it costs to build commercial real estate

Altus Group provides hard construction costs for commercial real estate projects across the West

By
Western Investor
April 30, 2019





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Canada’s construction sector generated $87 billion in residential projects in 2018 and $53 billion in commercial and industrial real estate in nearly 1,500 projects. While 2019 began with significant headwinds gusting from government policy aimed at dampening housing demand, it is estimated that 210,000 new homes will be started this year and 300 million square feet of new commercial and industrial space will begin construction.

That construction comes with a cost, as detailed in the Altus Group’s 2019 Construction Cost Guide. The annual guide is trusted as a budgeting tool by public bodies, developers, lenders, contractors, consultants and various industry professionals. 

Note: While using the Altus cost guide helps develop a preliminary project financial plan, we recommend seeking professional advice when costing any project. 

 

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