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Development ActivityTotal construction activity in Ajax has increased by more than seven times over the last 10 years, from $60 million to over $432 million. Residential construction continues to lead the way with over 1,900 new homes built in Ajax during 2005. Commercial construction has remained consistently strong throughout the last decade with key developments like the Durham Centre leading this growth. Industrial growth has been steady over the years. It is expected to account for a much larger portion of construction in the future with the development of the 1,000 acre Carruthers Creek Employment Properties. To date, announced projects in this area include a Loblaws Distribution Centre, Hilton Garden Inn and Slots at Ajax Downs.
Construction Activity 1995 - 2005
| Year |
Residential |
Commercial |
Industrial |
Other |
Total |
| 1995 |
29.8 |
19.3 |
0.4 |
10.8 |
60.3 |
| 1996 |
76.4 |
6.0 |
1.0 |
12.6 |
96.0 |
| 1997 |
98.7 |
17.5 |
13.7 |
15.9 |
145.8 |
| 1998 |
66.9 |
5.7 |
7.9 |
15.2 |
95.7 |
| 1999 |
71.8 |
45.0 |
11.5 |
1.1 |
129.4 |
| 2000 |
142.4 |
61.0 |
9.5 |
0.8 |
213.7 |
| 2001 |
120.1 |
29.3 |
3.0 |
5.8 |
158.2 |
| 2002 |
186.3 |
20.6 |
2.8 |
0.8 |
210.5 |
| 2003 |
245.5 |
41.4 |
6.0 |
2.3 |
295.2 |
| 2004 |
195.7 |
18.7 |
4.5 |
3.6 |
244.4 |
| 2005 |
367.0 |
58.3 |
3.4 |
3.8 |
432.5 |
Source: Town of Ajax Building Approvals
Assessment Base
Ajax’s Assessment Base has steadily grown over the past eight years. In fact the assessment rates has grown by almost 70% over this period of time.
Historical Assessment Growth (1998 - 2005)
|
Year |
Total |
Residential |
Commercial/Industrial |
Ratio |
|
2005 |
7,097,168,320 |
6,291,198,810 |
805,969,510 |
89:11 |
|
2004 |
6,738,333,885 |
5,945,611,025 |
792,722,860 |
88:12 |
|
2003 |
5,683,207,150 |
4,981,708,685 |
701,498,465 |
88:12 |
|
2002 |
4,895,603,489 |
4,300,294,282 |
595,309,207 |
88:12 |
|
2001 |
4,662,869,584 |
4,084,067,175 |
578,802,409 |
88:12 |
|
2000 |
4,106,397,697 |
3,574,903,635 |
531,494,062 |
87:13 |
|
1999 |
3,972,647,495 |
3,454,690,902 |
517,956,593 |
87:13 |
|
1998 |
3,864,367,405 |
3,388,148,352 |
476,219,053 |
88:12 |
Source: Town of Ajax Finance Department
Land Prices
Ajax offers competitive land prices when benchmarked against other Greater Toronto Area jurisdictions.
Greater Toronto Area Land Prices
| Municipality |
Price Range (per acre) |
Median Price (per acre) |
| Mississauga |
$700,000 - $787,500 |
$743,750 |
| Richmond Hill |
$562,000 - $642,500 |
$602,500 |
| Vaughan |
$612,000 - $667,500 |
$640,000 |
| Brampton |
$480,000 - $530,000 |
$505,000 |
| Toronto |
$415,000 - $455,000 |
$435,000 |
| Markham |
$412,500 - $500,000 |
$456,250 |
| Pickering |
$222,500 - $310,000 |
$266,250 |
| Ajax |
$192,500 - $297,500 |
$245,000 |
| Whitby |
$170,000 - $265,000 |
$217,500 |
| Oshawa |
$130,000 - $210,000 |
$170,000 |
Source: Toronto Real Estate Board, 2005
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