City of Vaughan Mayor Maurizio Bevilacqua, announced recently at the 700+ attended Vaughan Chamber of Commerce luncheon, that the township had an exciting project to unveil – a state-of-the-art 265,000 square foot mixed use building with 80,000 square feet of Class A office, at-grade retail that includes a state-of-the-art YMCA, City of Vaughan public library and recreation space. These new spaces are expected for completion in 2019.
Along with the overall growth and vision of the Vaughan Metro Centre, this new project falls directly in the scope of building the future ‘Downtown Vaughan’. Not only will this space be open for retailers, businesses, and commercial use , but it will increase engagement amongst all members of the community. At the Chamber of Commerce luncheon, Mayor Bevilacqua provided the following information (as per City of Vaughan website, Vaughan.ca):
- $1.4 billion in building construction permits issued in 2015
- Vaughan’s businesses increased to more than 11,200, up from 10,900 in 2015
- 3.5 per cent employment growth brought total number of Vaughan jobs to 201,008 in 2015
- Industrial construction represented 46.9 per cent of building permits issued and included a total of five new industrial buildings that are more than 100,000 square feet in size in the Vaughan Enterprise Zone
- In October 2015, Vaughan Council approved a transaction that, if completed, will see PowerStream Holdings Inc. merge with two utilities, Enersource Corporation and Horizon Utilities Corporation, and jointly purchase the shares of Hydro One Brampton Networks Inc. – dividends for the City are expected to increase in the first 10 years by $62 million