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Many commercial real estate lenders anticipate recession: Altus Group
Almost 90 per cent of Canadian commercial real estate leaders believe a recession is likely within the next six months, with more than two-thirds indicating it would be short in duration.
The Altus Group survey, released Sept. 6, was intended to track the impact of rising interest rate increases on real estate assets.
According to the findings, based on a Canada-wide survey of 126 commercial real estate leaders, 60 per cent indicated they had adjusted both their cap rate and internal rate of return (IRR) expectations as a result of interest rate increases by the Bank of Canada in 2022.
Click here, to read the full news article.
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Metrolinx selects development partner to transform Front and Spadina
Metrolinx announced that Dream Kilmer – a partnership formed by Dream Unlimited Corp. and Kilmer Group – will re-zone and redevelop Metrolinx land for the future home of the Spadina-Front GO Station.
The proposal by Dream Kilmer integrates the at-grade GO station within a new mixed-use development, with station entrances connecting onto Front Street West and Spadina Avenue.
The site located at 433 Front Street West currently serves as the North Bathurst Yard, a train layover facility where GO Trains are stored during non-peak periods.
Click here, to read the full news article.
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Is the Construction Industry Ready to Embrace Robots?
Imagine everything going right on a construction site. Labor shortages, supply chain constraints, weather forecasts, angry neighbors — poof. Gone. And all there’s left to do is build. Everything, for once, is under control.
But in the construction industry, where there’s so much potential for so much to go so wrong, control is a fleeting concept. The only things that go poof on a jobsite, seemingly, are time and money.
Over the last two and a half years, the construction industry in the United States has been plagued by rising labor and material costs, climate change, health and safety concerns, and the pandemic — all of which have contributed to what’s estimated to be a nearly 8 percent decline in productivity.
Click here, to read the full news article.
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Workers falling behind as some corporations see record profits, labour leaders say
A record labour shortage and rising wages may seem like good news for workers, but labour leaders say employees aren’t seeing the gains that corporations are experiencing amid sky-high inflation.
Canadian Labour Congress president Bea Bruske says workers are feeling the pinch as the cost of living rises.
Canada’s year-over-year inflation rate was 7.6 per cent in July, while wages grew by 5.2 per cent over that same period.
Meanwhile, Bruske says corporations in industries like oil and gas have been posting record profits.
Click here, to read the full news article..
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PCL adjusts senior leadership team in Toronto
The PCL family of companies recently announced several changes to its Toronto-based senior leadership team; moves the company says will position it for continued growth in support of its recent expansion into new geographical areas in Central and Eastern Canada.
Marc Pascoli has been appointed senior vice-president and district manager of PCL Toronto, assuming overall responsibilities for PCL’s operations in the Greater Toronto Area and southwestern Ontario. Monique Buckberger continues in her role as vice-president and district manager. And Myke Badry transitions from his role as district manager in Regina to district manager in Toronto.
Click here, to read the full news article.
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Protect Against the Major Fall Hazards on Construction Sites
Construction is the deadliest occupation, as evidenced by 193 deaths reported in 2020 by the Association of Workers’ Compensation Boards of Canada. That represents 21% of the 921 total deaths across all industries. Only manufacturing at 17.5% comes close.
Companies must protect their workers by identifying construction site hazards and taking the proper steps to eliminate or mitigate them. Mitigation begins with education and includes investment in effective and compliant fall protection systems and equipment.
Major risk factors include scaffolds, ladders, rooftops, stairs/walkways, and steel frames.
Click here, to read the full news article.
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United Rentals adding to electrified equipment offerings
United Rentals recently announced a new agreement to purchase the industry’s first high-volume, fully electric dumpsters from JCB for its North American rental fleets.
The JCB HTD-5E E-Dumpsters join zero-emission trucks, vans, compact excavators, energy systems and more already available in the United Rentals portfolio of environmentally friendly rental equipment. The tracked e-dumpster is offered as a high-tip, ride-on model, capable of carrying up to 1,102 lb. Its lithium-ion battery pack powers the machine for a typical full day work shift. United Rentals expects to deploy the vehicles in the last quarter of 2022.
Click here, to read the full news article.
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Amico celebrates opening new Mississauga location
Amico is a development and infrastructure company with deep roots in Ontario stemming back to 1987.
The company has a strong and growing presence in Mississauga with an ongoing contribution and dedicated commitment to improving Mississauga and GTA transit and road and highway infrastructure, creating hundreds of job opportunities in the area, with the Highway 401 expansion project, the Hurontario Light Rail Transit (LRT) project and, most recently, the newly awarded Queen Elizabeth Way Cawthra project.
Click here, to read the full news article.
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Advertise in Our Weekly Bulletin
Advertise your products and service in TCA's Weekly E-Connect bulletin. This email blast is sent to the members on Tuesday morning of each week. Please visit our website, or contact Vishawn Thompson for details.
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TCA Member Spotlight
Get your company in front of like-minded industry colleagues and grow your network and business opportunities! Click here, to learn more and to complete the application form.
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*Free Event exclusive to TCA members only*
Last chance to register for TCA's 27th Annual Members' Day | Keynote address to be delivered by: TCA's President & CEO, John Mollenhauer
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2022 MEMBERS' DAY KEYNOTE
Where Do We Go From Here?
Our industry was on the cusp of rapid change long before the global pandemic began in March of 2020. In fact, the disruptive impacts of a skilled labour shortage, global warming, geo-political turmoil, new and radically different procurement methodologies, legislative reform, and a technological revolution will arguably have more influence on reshaping the industry than COVID legacy impacts like price volatility and supply chain disruption. As a consequence, the future is uncharted territory for the construction industry.
The focus for the 2022 keynote is where do we go from here? And what matters most to TCA members is how this disruption in all its forms will shape the industry in 2023 and beyond.
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John G. Mollenhauer, President & CEO, The Toronto Construction Association
John Mollenhauer is President & CEO of The Toronto Construction Association (TCA), he is also President & Vice Chancellor of The Construction Institute of Canada (TCIC), sits on several Boards of Directors, serves on the program advisories for a number of Ontario colleges and universities and was the recipient of an honorary fellowship with the UK based Chartered Institute of Builders (CIOB).
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Exclusive Discount for TCA Members on publishing Certificates of Substantial Performance (CSPs) in the Daily Commercial News (DCN)! | | |
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All certificates and notices published in the Daily Commercial News (DCN) are a flat fee of $300 (plus tax). Special Affinity Pricing of $200 per certificate is available to all ConstructConnect subscribers and TCA members.
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Click on the image for more details.
**IMPORTANT: To apply the discount, please mention the offer at the time of order placement.**
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Faith Chen, Senior Manager, TCIC/Professional Development
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