The cost to build a hotel in Canada’s largest market, the Greater Toronto Area, is $365 to $565 per square foot for a full-service 4-star hotel in 2026; a warehouse is $75 to $180 per square foot, so a 6,000 sq ft warehouse costs about $450,000 to $1.08 million; and underground parking is $165 to $285 per square foot. These are Altus Group’s 2026 hard construction costs, before taxes, land, financing and soft costs.
Below: each building type in turn, worked budgets, what the ranges leave out, and how costs are moving in other Canadian cities. The full ranges and a budget calculator are on our cost benchmark pages.
View the data
| Building type | Low ($/sq ft) | High ($/sq ft) |
|---|---|---|
| Warehouse (industrial) | $75 | $180 |
| Underground parking (parking structure) | $165 | $285 |
| Distribution centre (industrial) | $170 | $480 |
| 4-star hotel (full-service) | $365 | $565 |
How much does it cost to build a hotel in Canada?
Altus puts a full-service 4-star hotel in the GTA at $365 to $565 per square foot. Its worked example, a 200,000 sq ft hotel, comes to $73 million to $113 million in hard cost. The range covers the building above grade, including foundations; it excludes GST/HST, site development, parking, land and financing.
Where a hotel lands in that range depends on the design: the brand’s standards for rooms and public areas, and how much of the building is food, beverage, meeting and amenity space rather than guest rooms. We don’t quote a cost per room, because our source prices hotels by floor area and room sizes vary by brand. See the hotel cost benchmark to run your own floor area.
How much does it cost to build a 6,000 sq ft warehouse?
At Altus’s 2026 GTA warehouse range of $75 to $180 per square foot, a 6,000 sq ft warehouse costs about $450,000 to $1.08 million in hard cost. A 200,000 sq ft warehouse, Altus’s worked example, comes to $15 million to $36 million.
Keep in mind that the range comes from typical GTA industrial warehouses. A small building, a high-bay building, or one with cold storage, heavy power or a lot of office space can fall outside it, so price the actual design early. Large distribution facilities have their own, wider range of $170 to $480 per square foot; see the distribution centre benchmark and the warehouse benchmark.
| Building | Size | Rate / sq ft | Low | High |
|---|---|---|---|---|
| Warehouse | 6,000 sq ft | $75–$180 | $450,000 | $1.08M |
| Warehouse | 200,000 sq ft | $75–$180 | $15.0M | $36.0M |
| Underground parking | 100,000 sq ft | $165–$285 | $16.5M | $28.5M |
| 4-star hotel | 200,000 sq ft | $365–$565 | $73.0M | $113.0M |
Cost to build a parking structure
Altus’s 2026 GTA range for underground parking is $165 to $285 per square foot of parking structure. A 100,000 sq ft underground garage works out to $16.5 million to $28.5 million in hard cost. See the underground parking benchmark.
Two gaps to be clear about. First, our source doesn’t publish a range for above-grade (standalone) parking garages, so we don’t give one; an above-grade structure has different cost drivers from an underground one and needs its own pricing. Second, we don’t quote a cost per parking space, because the floor area per stall depends on the layout, ramps and column grid. Price the garage by floor area instead.
What these ranges leave out
- Taxes, land and financing. All three ranges exclude GST/HST, land and financing.
- Site development and parking. The hotel and warehouse ranges exclude both. A hotel with underground parking needs the parking priced separately.
- Soft costs and contingency. Design fees, permits, project management and contingency come on top. Our Class D estimate guide explains how wide early budgets should be.
Construction costs in other Canadian cities
Our ranges are for the GTA. Costs in other cities differ, and they are moving at different speeds. Statistics Canada’s building construction price index shows non-residential prices up 3.5% across 15 cities in the year to the second quarter of 2026:
View the data
| City (CMA) | Year over year |
|---|---|
| 15-city composite | +3.5% |
| London | +8.2% |
| Québec | +6.5% |
| Saskatoon | +5.4% |
| Halifax | +4.9% |
| Moncton | +4.8% |
| Regina | +4.3% |
| St. John’s | +4.2% |
| Montréal | +4.0% |
| Edmonton | +4.0% |
| Calgary | +3.9% |
| Ottawa (Ont. part) | +3.4% |
| Toronto | +3.2% |
| Winnipeg | +2.9% |
| Victoria | +2.0% |
| Vancouver | +1.3% |
For a project outside the GTA, start from a local cost guide or quantity surveyor, and use the index to bring older prices up to date. Our owner tools help with escalation and budget checks.
FAQ
How much does it cost to build a hotel in Canada?
In the Greater Toronto Area, Altus Group's 2026 Canadian Cost Guide puts a full-service 4-star hotel at $365 to $565 per square foot in hard construction cost. A 200,000 sq ft hotel works out to about $73 million to $113 million before taxes, land, parking, site work, financing and soft costs.
How much does it cost to build a 6,000 sq ft warehouse?
At the Altus 2026 GTA warehouse range of $75 to $180 per square foot, a 6,000 sq ft warehouse has a hard construction cost of about $450,000 to $1.08 million, before taxes, land, site development, parking, financing and soft costs.
What is the cost to build a parking structure?
Altus Group's 2026 GTA range for underground parking is $165 to $285 per square foot of parking structure, in hard cost. Our source doesn't publish a range for above-grade parking garages, so we don't give one.
How much does a parking space cost to build?
We don't quote a per-stall cost because our source prices parking by floor area, not by stall, and the area per stall depends on the layout, ramps and columns. Multiply the garage's gross floor area by the per-square-foot range instead.
Are these construction costs the same across Canada?
No. These ranges are for the Greater Toronto Area. Statistics Canada's index shows non-residential construction prices rose 3.5% across 15 cities in the year to the second quarter of 2026, from 1.3% in Vancouver to 8.2% in London, Ontario.
The bottom line
Per square foot, a hotel costs far more than a warehouse or a parking structure, but every range here is hard cost only. Taxes, land, site work, soft costs and contingency decide the real budget. Planning a hotel, industrial building or garage? Book a 30-minute call and we’ll help you test the numbers before you commit.
Sources: Altus Group, 2026 Canadian Cost Guide, GTA ranges for 4-star hotel, warehouse, distribution centre and underground parking, as shown on our cost benchmark pages; Statistics Canada, Building construction price indexes, second quarter 2026 and its table by city. Cover photo: Brian Wangenheim on Unsplash (Unsplash Licence). This article is general information, not professional advice for a specific project.