Articles from Global News

The Bank of Canada has maintained its interest rates for the third consecutive time, maintaining stability in the housing market. According to economists and real estate experts, this decision suggests that the market may not require another rate cut to improve. The current conditions in the housing sector are being viewed as a 'new normal,' which resembles the 'old normal,' due to steady economic parameters. This stabilization points toward a period of gradual recovery for the housing market without further intervention.

The operator of the Trans Mountain oil pipeline is planning to initiate a formal process later this year to assess the interest in expanding the pipeline's capacity. This indicates potential growth opportunities in the transport of oil across regions served by the pipeline. The decision points towards strategic developments in infrastructure to accommodate increasing energy demands.

A legal dispute between Metro Vancouver and the former contractor Acciona Wastewater Solutions LP has led to the suspension of the review of a $3.86 billion wastewater treatment plant project. Sources indicate that Metro Vancouver board members received legal advice to pause the review due to ongoing litigation. This development highlights the challenges faced by large infrastructure projects when legal issues arise. The project, essential for regional wastewater management, is now in limbo as the parties resolve their conflicts.

The Calgary Inner-City Builders Association highlights a significant increase in appeals against development permits, leading to concerns about project delays. On average, the appeal process takes 68 days to complete, costing about $500 per day of delay. These delays can have a substantial financial impact on construction projects and timelines in the region.

Metro Vancouver has decided to pause its review of the issues surrounding the sewage treatment plant project due to an ongoing legal dispute with the previous contractor, Acciona. The litigation is not set to be heard until 2027, which means the review could be delayed for several years. The decision has drawn criticism as the community seeks accountability and clarity on the project's challenges.

The Prime Minister's Office has indicated that Mark Carney is engaged in intense discussions with the U.S. ahead of an August 1 deadline. Although details are scarce, Carney is expected to announce new measures aimed at reducing costs for Canadians. This development is part of broader economic planning with implications possibly affecting various sectors.

The Low Level southbound bridge in Edmonton is set to undergo rehabilitation, causing traffic disruptions near the downtown area. The bridge, originally constructed in 1949, last received major repairs in 1994. Having reached the end of its maintenance period, the bridge now requires extensive rehabilitation work. Commuters in the area should expect changes and plan accordingly during this construction phase.

The new CEO of Metrolinx, Lindsay, is set to receive a base salary of approximately $687,000 annually. Alongside the base salary, his contract includes a performance-based bonus of up to 20%. This could potentially result in a six-figure additional income, depending on performance metrics met during his tenure.

Alberta is experiencing a surge in housing starts, with the first half of 2025 demonstrating a strong performance. The new home construction activity is on track to surpass the numbers anticipated for 2024. This trend marks a continuation of record-breaking achievements in the housing sector within the province. The growth in residential building bodes well for the ongoing development of Alberta's infrastructure and residential market.

Edmonton faced significant parking congestion issues in its central neighborhoods during the past weekend owing to the numerous summer events held in the city. Concerts, comedy shows, baseball games, and midway rides attracted large crowds, exacerbating residential parking problems. The influx of event-goers led to a demand for more efficient parking solutions in these areas.

In Ontario, the Provincial Police have reported that two locations, a local construction business and a communications tower, have recently been targeted in incidents of copper theft. The theft of copper is a growing concern due to its increasing value in the market. This type of crime is not only disruptive but also costly to affected industries and infrastructure. Authorities are likely stepping up their efforts to prevent further copper thefts in the region.

The provincial government of Ontario reports that municipalities have accumulated approximately $10 billion from fees paid by developers for new housing projects. This significant reserve of funds is intended for infrastructure and community services but remains largely unspent. The government urges municipalities to utilize these funds to support housing development goals. Effective disbursement could accelerate progress in addressing housing needs.