Articles tagged with "Residential Building"

The Canada Mortgage and Housing Corporation (CMHC) reports that Canada must double its home construction efforts, building 430,000 to 480,000 homes annually until 2035, to restore housing affordability. Major cities like Montreal and Toronto face significant housing gaps, with Toronto needing a 70% increase in homebuilding over the next decade. The national strategy requires a modernized workforce, more private investment, fewer regulations, and advancements in construction technology to achieve these goals.

Peninsula Capital has acquired a 959-unit single-family rental housing portfolio in the U.S. Midwest, expanding its U.S. presence significantly. This acquisition supports their strategy of scaling up its single-family rental platform. The properties are located in cities like Kansas City, St. Louis, Indianapolis, and Columbus, benefiting from affordable housing, job stability, and high rental demand. The newly acquired portfolio includes two-, three-, and four-bedroom units situated in well-established neighborhoods.

In May, Canada experienced a stagnation in housing starts with a slight increase in the six-month trend but a minor monthly decline, according to CMHC. Actual housing starts rose by 9% year-over-year in cities with populations over 10,000, partly due to single-detached homes and rentals in Quebec and the Prairies. Montreal saw an increase in housing starts, while Vancouver and Toronto experienced declines, largely due to weaker condominium markets.

In April, the total value of building permits in Canada declined by 6.6%, largely due to a decrease in the residential sector. Residential construction intentions fell to $7.4 billion, with a significant drop in multi-family dwelling permits, particularly in British Columbia. Conversely, non-residential building permits rose by 3.3%, led by industrial and commercial sectors, especially in Ontario. Overall, Ontario saw an increase in non-residential permits, while British Columbia experienced the largest decline in residential permits.

Residential rents in Canada decreased by 3.3% year-over-year in May from a record high as per the National Rent Report by Rentals.ca and Urbanation. However, rental prices are still significantly higher than two and three years ago, having increased by 5.7% and 12.6% respectively. Over the past five years, average asking rents have risen by 4.1% annually, indicating worsening rental affordability since the COVID-19 pandemic.

The U.K. ministry has issued a warning to British home developers to adhere to approved construction schedules or face fines. This move aligns with UK's ongoing commitment to address housing demands amidst bigger discussions about development charges and sale tax reductions. These discussions are vital to make housing plans feasible across regions through collaborative efforts between Ottawa and provincial governments.

The deadline for nominations for On-Site Magazine's '40 Under 40 in Canadian Construction' has been extended to June 23, 2025. The event, co-hosted with SitePartners, aims to recognize young leaders in construction across Canada, particularly those in infrastructure, ICI, high-rise residential, and mixed-use segments. The selected honorees will be featured in the September 2025 issue of the magazine, and nominations are open to professionals under 40 years old residing in Canada. Self-nominations are allowed, provided there are supporting references.

Generac has teamed up with Ecobee to launch a smart thermostat that integrates with Generac's home standby generators and PWRcell 2 solar battery storage, aiming to enhance home energy management. This collaboration is designed to reduce energy costs, increase efficiency, and provide improved control for homeowners by optimizing HVAC systems and coordinating electrical loads during outages. The smart thermostat is set to offer up to 26% savings on annual heating and cooling bills by adapting to homeowners' habits. The product will be available through Generac’s dealer network, with the PWRcell 2 shipping soon.

The Liberal government has proposed a legislative measure to eliminate the GST portion on new home sales priced up to $1 million for first-time buyers. This tax relief aims to reduce the financial burden on first-time homebuyers, potentially saving them around $240 on their mortgages. This initiative forms part of the government's broader strategy to make housing more affordable. The measure was introduced on June 5.

Architect Joaquin Karcher has unveiled the Zero E Home, a sustainable and affordable housing model in Taos, New Mexico, that aims to mainstream climate-resilient and energy-efficient living. Built from natural, carbon-free materials and implementing passive house principles, these homes require up to 90% less energy than conventional homes. They use innovative technology such as triple-pane windows, ultra-efficient insulation, and cold climate heat pumps to maintain comfort while being eco-friendly. Karcher's work challenges the myth that sustainable homes are only for the wealthy and aims for such housing to be accessible to a wider population.

Rotterdam has introduced its first fully-demountable housing block that is 85% constructed from timber. Designed by the Powerhouse Company, the Valckensteyn project in the Pendrecht suburb features cross-laminated timber allowing for reassembly at different sites. The design aims to balance sustainability and affordability while addressing the pressing housing demand in the Netherlands. The project reflects a trend in innovative materials, such as wood, being used to meet housing shortages effectively.

A significant new housing project involving the construction of over 500 mixed-income units using mass timber is set to take place in Staten Island, New York City. This project marks a major development as it is one of the largest of its kind in the city utilizing the innovative wood product. The use of mass timber aligns with modern building practices emphasizing sustainability and efficiency.