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Brampton’s strong economy

Brampton’s strong economy

Brampton’s strong economy
November 24
13:06 2016

Brampton’s strong economy continues to be one of the leading markets in Canada. With a population of over 600,000, Brampton is the ninth largest city in Canada and the third largest in the Greater Toronto Area (GTA). Brampton is the second fastest growing city among the 50 largest cities in Canada, averaging growth of 4.2 per cent or 18,000 new residents per year. Brampton’s median age is 34.7, the lowest among Canada’s largest cities. Our residents represent more than 209 different cultures and speak more than 89 languages that power our diverse labour force.

pg7-1Development is gaining real momentum in Brampton’s Central Area, evolving this traditionally suburban district to a high density, mixed-use, transit friendly corridor. This strategic economic area along Queen Street into the downtown, supported by City incentive and attraction programs, has produced a number of already completed residential and commercial developments to support economic growth. All of this proves that Brampton’s strong economy has become for site selectors and those looking to open, expand or move a business.

A centrepiece to the area is the new Peel Memorial Centre for Integrated Health and Wellness (PMC), a redevelopment of the former Peel Memorial Hospital, slated to open to the public in early 2017. Even during early construction, the Central Area has been seeing more doctors’ offices, rehab centres, and wellness clinics begin to group together around the area. Brampton’s ambition is to build a significant Human Health and Sciences cluster to support PMC.

“This is a priority growth area for Brampton,” says Mayor Linda Jeffrey. “We are the beneficiary of three major healthcare investments (Brampton Civic, Peel Memorial and ErinOakKids) that have positioned us to attract businesses that support these developments. We’ve had a lot of interest from investors from around the GTA and around the world specifically regarding the quantity of developable land in Brampton.”

Cumberland Developments is proposing a mixed use development consisting of a 21-storey residential condominium together with office and retail uses which will add to Brampton’s strong economy. Preston Homes/ Redwood Properties is beginning their second mixed-use project in Brampton at 45 Railroad Street with two high-rise 25- and 27-storey buildings with commercial space. In addition, Mattamy is moving forward with its next phase of a high rise mixed use development at Kennedy and Queen by introducing a 30-storey residential with commercial uses at grade.

“Brampton has been a focus for us as the City transitions from a more suburb an form to an urban one. We have worked closely and positively with the Cit y of Brampton to achieve our shared goals.” – Richard Aubry, Architect , Preston Homes/ Redwood Properties”

Find out about more exciting developments and how the City of Brampton is supporting growth in its Central Area at www.brampton.ca/centralarea

pg7-2Downtown Etobicoke Creek Revitalization – Riverwalk Project

The Downtown Etobicoke Creek Revitalization, including the Riverwalk Project is a key City initiative contributing to the redevelopment of the area. Its goal is to provide long term solutions for the flood issues while at the same timecreating new public space and amenities, bringing new development opportunities, enhancing the downtowns character and strengthening its identity.

 

 

 

 

 


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