Enclosed mall construction cost per sq ft in Toronto
Enclosed shopping malls in the Greater Toronto Area, hard cost only.
Short answer (November 2026): Enclosed mall construction in the GTA costs $260–$480 per sq ft in hard costs, before soft costs, contingency and HST (Altus Group 2026 Canadian Cost Guide). For example, an enclosed shopping mall of 300,000 sq ft comes to $78.0M – $144.0M in hard cost.
An enclosed shopping mall of 300,000 sq ft
| Hard cost (300,000 × $260–$480) | $78.0M – $144.0M |
| Soft costs at 20% | $15.6M – $28.8M |
| Contingency at 10% | $9.4M – $17.3M |
| Indicative total | $103.0M – $190.1M |
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 →