Economic Archives - constructconnect.com

Hamilton modular manufacturer highlights solutions to planners

Daily Commercial News — Tue, 22 Oct 2024 08:00:20 +0000

With productivity in the homebuilding sector increasingly under the microscope and the need for rapid construction of new homes in Ontario recognized as urgent, it should be modular construction’s time to shine. But several barriers remain stubbornly in the way of fully exploiting the solution says Albert Bendersky, vice-president of design with Hamilton-based manufacturer BECC […]

The post Hamilton modular manufacturer highlights solutions to planners appeared first on constructconnect.com.

CMHC reports September pace for housing starts up from August

Daily Commercial News — Fri, 18 Oct 2024 10:10:50 +0000

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in September was up five per cent compared with August. The national housing agency said the seasonally adjusted annual rate of housing starts was 223,808 units in September, up from 213,012 in August. The increase came as the pace of starts […]

The post CMHC reports September pace for housing starts up from August appeared first on constructconnect.com.

CREA lowers housing market forecast for 2024 amid ‘holding pattern’ for home sales

Daily Commercial News — Thu, 17 Oct 2024 10:00:10 +0000

OTTAWA — The Canadian Real Estate Association is downgrading its housing market forecast for the remainder of the year again, saying the Bank of Canada’s interest rate cuts haven’t spurred the gradual improvement it previously anticipated. CREA said it now thinks the national housing market will remain in “more of a holding pattern” until next […]

The post CREA lowers housing market forecast for 2024 amid ‘holding pattern’ for home sales appeared first on constructconnect.com.

Annual inflation falls to 1.6 per cent in September, raises odds of 50-basis-point rate cut

Journal of Commerce — Wed, 16 Oct 2024 05:00:56 +0000

OTTAWA – The chances of a half-percentage point interest rate cut by the Bank of Canada became more likely Tuesday after Statistics Canada reported the annual inflation rate fell to 1.6 per cent in September. Economist Tu Nguyen of accounting and consultancy firm RSM Canada said she had expected the inflation rate to remain close […]

The post Annual inflation falls to 1.6 per cent in September, raises odds of 50-basis-point rate cut appeared first on constructconnect.com.

Pickleplex Social Club announces new Pickering site

Daily Commercial News — Tue, 15 Oct 2024 10:00:05 +0000

PICKERING, ONT. — Pickleplex Social Club has announced plans to open its second location, at The Shops at Pickering City Centre in Pickering, Ont. The club will open later this year, stated a release. The facility will feature multiple courts, change rooms, locker facilities, advanced lighting and year-round temperature control. “We believe pickleball is a […]

The post Pickleplex Social Club announces new Pickering site appeared first on constructconnect.com.

Global Market Scan: Semiconductor Dynamics — Innovation, Competition, Geopolitical Tensions

Daily Commercial News — Tue, 15 Oct 2024 09:45:15 +0000

Microprocessors are the foundation of technological progress. Their recent advancement has resulted in ground-breaking IT innovations, including the introduction of artificial intelligence. Also known as chips or semiconductors, microprocessors perform complex functions, such as memory storage and logical operations. Modern semiconductors are notoriously difficult to manufacture due to the cutting-edge technology involved. Some new microprocessor […]

The post Global Market Scan: Semiconductor Dynamics — Innovation, Competition, Geopolitical Tensions appeared first on constructconnect.com.

Your top DCN headlines: Oct. 7 to 11

Daily Commercial News — Fri, 11 Oct 2024 07:55:25 +0000

Your top DCN headlines this week feature news a lawsuit has been launched by the consortium tasked with building the Finch West LRT; a $1.8 billion contract has been awarded to Pomerleau Health Partners to design, build and finance the Weeneebayko Area Health Authority redevelopment project; Harbourwalk breaks ground as part of Mississauga’s Lakeview Village; and […]

The post Your top DCN headlines: Oct. 7 to 11 appeared first on constructconnect.com.

$10 million allotted for affordable housing through Business Council of Manitoba

Journal of Commerce — Fri, 11 Oct 2024 05:00:29 +0000

WINNIPEG – The Government of Manitoba is providing $10 million in grant funding to the Business Council of Manitoba for a new investment trust that will increase the availability of affordable housing units in the province. The Collaborative Housing Alliance Real Estate Investment Trust was developed by the Business Council of Manitoba and “aims to […]

The post $10 million allotted for affordable housing through Business Council of Manitoba appeared first on constructconnect.com.

Toronto again reigns in latest RLB crane count

Daily Commercial News — Wed, 09 Oct 2024 10:00:17 +0000

TORONTO — Toronto remained the champion of Rider Levett Bucknall’s (RLB) biannual crane count of 14 North American metropolitan areas in Q3 2024. The numbers for the Ontario city are no longer quite as overwhelming as previously reported, however, because the crane data is now being gathered from a smaller region. RLB has announced it […]

The post Toronto again reigns in latest RLB crane count appeared first on constructconnect.com.

CGI �鶹��ý��ors announces Anthony Minniti as new president

Daily Commercial News — Tue, 08 Oct 2024 11:25:32 +0000

VICTORIA – CGI �鶹��ý��ors has announced Anthony Minniti is taking on the role of president. Minniti served most recently as the company’s vice-president of operations and was a founding partner in the firm’s western Canadian expansion, a release said. “I am excited to accept this role and lead our amazing team. As an industry leader, […]

The post CGI �鶹��ý��ors announces Anthony Minniti as new president appeared first on constructconnect.com.

Canadian Natural Resources buying Chevron’s Alberta assets for US$6.5B

Daily Commercial News — Tue, 08 Oct 2024 11:00:12 +0000

CALGARY — Canadian Natural Resources Ltd. has signed a deal to buy Chevron Canada Ltd.’s interests in the Athabasca Oil Sands Project and Duvernay shale for US$6.5 billion. “These assets are a great fit for Canadian Natural and will allow us to further implement our strong operating culture and drive significant value for shareholders,” Canadian […]

The post Canadian Natural Resources buying Chevron’s Alberta assets for US$6.5B appeared first on constructconnect.com.

Lower Interest Rates and New Mortgage Rules to Boost GGH Homebuilding

Daily Commercial News — Tue, 08 Oct 2024 10:20:02 +0000

Seasonally adjusted sales of existing homes in the Greater Golden Horseshoe (GGH) slid lower by -8% month over month (m/m) in August following back-to-back declines of just over -10% in the previous two months. The combined decline in average house prices and successive interest rate cuts have not yet given a boost to existing home […]

The post Lower Interest Rates and New Mortgage Rules to Boost GGH Homebuilding appeared first on constructconnect.com.