Articles tagged with "Forecast"

Montreal must significantly increase its housing construction efforts to restore pre-pandemic housing affordability levels, according to the Canada Mortgage and Housing Corporation (CMHC). The report suggests that to achieve affordable housing, the city will need to triple its current rate of construction. The housing market is currently constrained, affecting overall accessibility for residents. The city's current strategies may fall short if these targets aren't met.

Montreal is facing a severe housing crisis, exacerbated by the pandemic more than any other major Canadian city. To address the situation, it is necessary to build approximately 50,000 new homes annually. This implies that Montreal will need to double its current housing production rate to meet demand and alleviate the crisis.

The City of Vancouver is predicting a 7% increase in property taxes for the next year. However, Mayor Ken Sim has requested city staff to propose strategies to limit the hike to under 2.5%, with a scenario even considering a zero percent increase. This move is part of the mayor’s effort to manage the financial burden on residents amidst current economic strains. The discussions aim to balance the city's budget needs with taxpayer concerns.

The demand for data centers continues to grow, even as concerns about a potential market bubble are raised. Developers are involving contractors earlier in the project lifecycle to evaluate site conditions, mitigate risks, and secure necessary materials. This proactive involvement aims to streamline the construction process and address any possible issues early on.

Trois-Rivières has experienced significant growth in new housing units over recent years, increasing from 1,327 in 2023 to 1,539 in 2024. The Canadian Mortgage and Housing Corporation (CMHC) reports that residential construction starts have had an even busier start to the year compared to last year. The trend indicates strong activity in the residential construction sector.

The article discusses the importance of accelerating national priority projects in Canada to enhance self-reliance, economic resilience, and sovereignty signaling amid current economic challenges. It proposes strategic infrastructure projects that span provincial borders to improve domestic connectivity and engage in more diverse international trade. Suggestions include the establishment of trade corridors and zones, as well as streamlined regulatory approval processes to facilitate the development of such projects. The focus is on projects with long-term benefits for Canada's stability and prosperity.

Montréal-Trudeau Airport will undergo major construction to reconfigure its road access and drop-off areas, starting this summer and continuing until 2035. This work is expected to increase traffic congestion around the airport, particularly at peak times. With 6.8 million travelers expected from June to August, Aéroports de Montréal recommends strategies such as using peripheral express drop-offs and arriving early. The airport plans to remain operational throughout the construction process.

The Montreal-based company Boralex has announced its strategic plan for 2030, aiming to invest eight billion by then. The company will host an investor day in Toronto, where they will outline their roadmap. This highlights Boralex's commitment to renewable energy and sustainable development. The investment is poised to enhance the company's footprint in the energy sector.

The article discusses the impact of new tariffs on Canadian exports to the United States, resulting in a significant decrease in export volume. To counter these economic challenges, Canada is focusing on nation-building through significant construction projects. This strategy is aimed at boosting the domestic economy and reducing reliance on exports to the U.S. The article highlights Canada's shift towards strengthening its infrastructure as a means to sustain economic growth.

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.

The U.S. and Canadian leaders, Donald Trump and Prime Minister Mark Carney, are at odds over trade deal concepts, which could significantly impact Canadian commercial real estate. Differences in opinions revolve mainly around tariffs, with Trump favoring a straightforward tariff approach. Although differences remain, both leaders expressed optimism about reaching an agreement. The ongoing discussions could influence investment decisions, development projects, and leases across the Canadian CRE market.

Tampa Airport has revealed its plans for a new $1.5 billion terminal named Airside D, led by the construction company Hensel Phelps. The cost of this project has almost doubled since it was first proposed. The terminal is expected to be completed and operational in 2028.