Canadian housing starts hit 273,664 in March, up from 252,636 a month earlier, but the enhanced activity still hasn’t been able to keep pace with voracious demand.
Richard Lyall is president of RESCON and has represented the building industry in Ontario since 1991. Contact him at [email protected]
A decrease in vehicle ownership and increases in driving alternatives like ride-sharing and public transit has resulted in reduced need for parking spaces by residents who buy units in new developments.
A shortage of trades would set our industry back and have disastrous effects on our economy. Our province is in desperate need of housing and we must keep building it.
More than 20 public and private sector organizations are now on board with the ambitious initiative, known as One Ontario. The goal of the initiative is to achieve efficiency and transparency through the development approval process.
Developers have delayed many projects due to COVID-19 which has set back thousands of occupancies.
RESCON's president feels the criticism for municipal zoning orders in the City of Toronto is unwarranted due to housing shortages.
Construction stakeholders are taking aim at the extraordinary amount of time it takes to get projects through the development approval processes in Ontario.
The health and safety of workers is, and remains, the most important concern of the Residential Construction Council of Ontario (RESCON).
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“On the periphery of Vancouver and Toronto, there are pockets of opportunity. When you look at commercial real estate broadly, retail is a victim of COVID and that’s still playing out.”
According to this chief business development officer in Burlington, off-market investments have less competition and allow for more time to inspect the property.
"[...]There’s a lot of push for the city and other government levels to move towards laneway housing to deal with the supply issue and I think that’s a great opportunity.”
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In March, new listings set a record by reaching 1 million across Canada, a 7.5% increase from the month prior. Bidding wars were commonplace and inventories fell to their lowest in decades.
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