Articles tagged with "Commercial"

In April 2025, Canada's total investment in building construction dropped by $741.9 million to $22.3 billion, with significant declines in both the residential and non-residential sectors. The residential sector experienced a 4.5% decrease, notably in the multi-unit and single-family components. Ontario and Alberta led the national downturn in single-family home construction. The non-residential sector saw a slight decline, despite an increase in institutional investments, led by Alberta.

The County of Simcoe has commenced construction on its largest affordable housing development in Barrie, featuring 220 mixed-income rental units and commercial space for health and community service agencies. The project, set to be completed in two phases by 2027, will include two apartment towers and a parking structure. The development aims to provide quality housing for families and seniors, with a focus on universal design to accommodate residents of all ages.

Bertram Construction has been awarded a contract by the Georgian Triangle Humane Society for the construction of a new animal centre in Collingwood, Ontario. The facility is called the Regional Centre for Pets and People and aims to replace the existing animal centre. This project is a significant development for the region, enhancing resources for animal care and community engagement.

Englobe plans to acquire Cambium, a consulting engineering firm based in Peterborough, Ontario, which specializes in environmental and geotechnical services. The acquisition aims to increase Englobe's service capacity in the ecological sector, with Cambium operating as a separate division. This marks Englobe's third acquisition in 2025, aligning with their strategy to expand their market reach in Ontario and beyond.

Invesque has sold 20 seniors housing communities to Commonwealth Living and divested its majority stake in the management company. The proceeds from the sale were used to repay debt and settle equity obligations. This sale is part of Invesque's strategy to reduce leverage and prepare for potential shareholder approval to sell or lease substantially all of its assets. Invesque continues to face financial challenges, and its current portfolio consists of 32 assets, with 12 under contract for sale.

Hamilton has achieved a significant milestone by surpassing $1 billion in construction value for building permits issued in 2025, marking the earliest point this has been accomplished. The city’s achievement is noteworthy given the challenging economic conditions. This record-breaking milestone underscores Hamilton’s robust construction industry and economic resilience.

Construction workers have begun pouring concrete at the rear of the Somerset House, located at the corner of Bank and Somerset streets. This marks the start of the reconstruction efforts for the historical building. The work is a significant step in restoring the site after it remained unused for many years. This project is expected to revitalize the area and bring new life to the surrounding community.

The Council on Tall Buildings and Urban Habitat (CTBUH) announced the winners of its 2025 Award of Excellence competition, which focuses on sustainable development practices. Canadian towers honored include T3 Bayside, Alberni by Kengo Kuma, Ontario Court of Justice, TD Terrace, and CIBC Square. The award categories highlight buildings that use low-carbon materials and innovative designs in sustainable urbanism, with submissions required to include data on carbon and material usage as part of a pilot program. The awards cover projects across 20 countries, showcasing leadership in vertical urbanism.

Investment in Ontario's ICI building construction sector increased by 17% year-over-year in Q1, according to OCS. The institutional sector showed the highest growth, with medical facilities, transportation, and educational buildings leading the way. Notable projects include the Windsor Acute Care Hospital and expansions in Thunder Bay and Barrie. Infrastructure investment also rose sharply in the transportation and utilities sector, particularly in Oshawa, London, and Ottawa.

The new $177 million headquarters of LIUNA Local 183, situated in Vaughan, Ontario, opened in October, showcasing a unique design by Diamond Schmitt. The 290,000-square-foot building includes a versatile 51,000-square-foot assembly hall that is poised to benefit both the union and the local community. This development has been recognized for its significant impact in the region.

Peakhill Capital has introduced a new division called Peakhill Project Advisory, focusing on providing project advisory, development management, and delivery oversight. The division aims to help real estate stakeholders navigate complex projects by offering strategic risk management, procurement strategies, and construction oversight. Led by Michael Grossman, the division combines project leadership with financial strength to minimize risks and optimize outcomes. It offers tailored services for clients throughout all project phases, leveraging proven processes and tools.

In March, Canada's building construction investment saw a decline of 0.9%, despite remaining higher than March 2024, with gains in the non-residential sector offsetting residential sector losses. Non-residential construction rose by 1.3%, while the residential sector fell by 1.8%. The multi-unit residential segment saw a significant decrease of 3.8%, particularly in Ontario and Quebec. Overall, investment grew by 5.4% year-over-year, with the non-residential segment marking its eighth consecutive month of increase.