Class B office construction cost per sq ft in Toronto
Low-rise Class B offices under 5 storeys in the Greater Toronto Area, hard cost only.
Short answer (November 2026): Class B office construction in the GTA costs $260–$355 per sq ft in hard costs, before soft costs, contingency and HST (Altus Group 2026 Canadian Cost Guide). For example, a Class B office building (under 5 storeys) of 40,000 sq ft comes to $10.4M – $14.2M in hard cost.
A Class B office building (under 5 storeys) of 40,000 sq ft
| Hard cost (40,000 × $260–$355) | $10.4M – $14.2M |
| Soft costs at 20% | $2.1M – $2.8M |
| Contingency at 10% | $1.2M – $1.7M |
| Indicative total | $13.7M – $18.7M |
Included: the building above grade, including foundations.
Not included: GST/HST, site development, parking, land and financing. Soft costs and contingency above are illustrative assumptions; change them in the calculator.
Source: Altus Group, 2026 Canadian Cost Guide (GTA hard costs, CAD per sq ft), used with permission. Ranges are indicative; your site, scope and procurement route will move the number. See all 17 building types →