Articles tagged with "Residential Building"

The British Columbia Construction Association's latest report highlights a 4% increase in construction material costs within the province, surpassing the national inflation target. Despite higher costs, industrial, commercial, and institutional permit values, as well as multi-unit residential permits, have risen significantly. The sector contributes 9.2% of B.C.'s GDP and employs over 267,000 people. The BCCA supports new Prompt Payment legislation to help mitigate the financial pressures on the industry.

The BC Construction Association (BCCA) has released its Fall 2025 Stat Pack report highlighting inflationary pressures in the construction industry. Material costs have risen by 4% year-over-year, double the Bank of Canada's inflation target, adding to affordability challenges. Despite rising costs, the sector remains steady with an increase in permit values and ongoing strong employment. The introduction of Prompt Payment legislation aims to address payment delays, a move supported by BCCA.

The City of Vancouver is continuing with applications for market-rental housing projects despite a failed attempt to create a market-residential development corporation. Three out of six planned projects, valued at $213 million, are proceeding through the development-approval process. These projects are expected to provide 2,700 market-rental homes. While the proposed development company didn't receive needed support, the city remains committed to facilitating rental housing on city-owned land.

The City of Vancouver's plan to enter the market-rental housing development has been halted after the city council vote did not reach the required two-thirds majority. Mayor Ken Sim's proposal aimed to build 4,000 housing units on municipally-owned land in partnership with the private sector and government. Despite having majority support, the plan was not approved due to opposition from four councillors. The initial project was set to start at Pacific Boulevard and Hornby Street with two residential towers.

The Vancouver city council has rejected a proposal to develop new for-profit housing on six city-owned sites. These sites were intended to create approximately 4,000 homes according to a plan shared by the City of Vancouver. The decision marks a significant development in housing strategies within the city.

Grosvenor has secured a $763 million federal loan from the Canada Mortgage and Housing Corporation's Apartment Construction Loan Program for its Brentwood Block development project in Burnaby, B.C. This investment will aid in constructing nearly 1,300 rental-housing units, along with retail, commercial, and community spaces. The development will feature sustainable construction practices and aims for completion of its first phase in 2026. The project is a collaboration between Grosvenor, a Canadian pension fund, and Westerkirk Capital.

The University of Victoria (UVic) is set to receive more than 500 new student beds designed for upper-year undergraduate and graduate students, with $121 million in funding from the Province and $57 million from UVic. The construction will feature sustainable and climate-resilient designs aiming for LEED Gold certification. These new accommodations will alleviate local rental market pressure and enhance on-campus support for students. The project is expected to begin construction in spring 2026.

A new AI model is designed to improve indoor ventilation in buildings during wildfire seasons, when outdoor air quality significantly deteriorates due to smoke and particulate matter. Developed by researchers at Carleton University, the model integrates simulation with deep learning to optimize indoor environments, helping reduce carbon dioxide levels and minimize the health impacts of poor air quality. This model allows designers to simulate various scenarios in enclosed spaces, offering insight into effective placement and quantity of ventilation systems. As wildfires continue to affect Canadian air quality, such innovations are seen as essential in creating safer indoor environments.

The article details various hirings and promotions within the real estate and development sector in British Columbia for September 2025. Key executive moves include Darren Tangen being named President of Westbank and Erin Elliott joining Conwest Developments as CFO. The updates extend across government, brokerages, finance, and more, highlighting significant shifts in roles across multiple domains. These personnel changes could influence the operations and strategies of the involved companies.

Wesgroup Properties has canceled its Ardea condominium project in Vancouver's River District, citing non-viable conditions due to unexpectedly high construction and delivery costs. The project had begun construction with some units already presold. The River District is a developing community in southeast Vancouver on a former lumber mill site. Wesgroup will continue with its Harlin condo project in the same area.

In July, Statistics Canada reported a slight decline of 0.1% in the value of building permits, totaling $11.9 billion. This decrease was driven by a 5.8% drop in non-residential permits, although residential permits increased by 3.8%. The residential sector saw growth in both single-family homes and multi-unit construction. Overall, the number of authorized dwellings rose slightly by 1.9% compared to the previous month.

Century Group has revised its redevelopment plans for Tsawwassen Town Centre in Delta, B.C., scaling back the project by reducing building heights and cutting the number of homes from 1,433 to about 600, following community feedback. The updated plan prioritizes healthcare with dedicated spaces for local health services and increases the retail space. Despite making significant concessions, Century Group views this project as a model for addressing housing challenges in line with community plans. The project focuses on infill development, renewing urban areas rather than expanding into undeveloped lands.