🔥 Beat the heat

Together with

Good morning! 🐷 Sheep and pigs are being put to work on Canadian solar farms. The four-legged critters are used to chow down on any vegetation that might block the sun from hitting solar panels and prevent electricity generation.

⏰ Today’s read: 5 minutes

MARKETS

*Stock data as of last market close; currency, oil and crypto data as of 7:00 PM ET August 12th, 2024.

Economy: In June, Canada's building permits totalled $9.9 billion, marking a 13.9% decline from May, with reductions reported in 11 of the 13 provinces and territories across both residential and non-residential sectors. The residential permits saw an 11.5% decrease to $6.5 billion, driven by a significant drop in multi-unit construction intentions, particularly in Ontario and B.C. However, single-family dwelling permits rose by 4%.

THE BIG STORY

Beat the heat: The future of cooling buildings

After 13 sweaty months of breaking heat records, the streak came to an end last month. But few experts were ready to celebrate, noting that extreme climate change-related temperatures will continue to worsen.

What’s at stake: The June 2021 heat wave in B.C. highlighted the urgent need for readiness in the face of extreme temperatures. Over six days, record-breaking heat led to more than 600 deaths, marking it as one of the province's costliest disasters. 

Catch-22: Buildings in Canada account for a significant portion of energy consumption, with residential and commercial buildings representing 31% of total Canadian energy use. This includes cooling. To reduce energy use and keep occupants safe, researchers have begun to look into low-energy ways to adjust building temperature, including:  

• Rooftop aerogel composites developed by MIT

• Zigzag designs that maximize how much heat walls radiate into space

• Phase-changing nano inks that can control temperature

• Wall and window coatings that can manipulate radiant heat

Global issue: According to the International Energy Agency, cooling is the fastest growing use of energy in buildings. Without action to address energy efficiency, energy demand for space cooling will more than triple by 2050 – consuming as much electricity as all of China and India.

IN PARTNERSHIP WITH PROCORE

Tim Coldwell at the Construction Leaders Forum

Énska Advisors Co-Founder Tim Coldwell will take the stage this fall at the Construction Leaders Forum. Coldwell will discuss exploring his Indigenous background and developing his view on using business as a catalyst for change. Purchase your tickets now and save the date, Sept. 25, to see Coldwell and our full lineup of panels and speakers at the Royal York in Toronto.

In appreciation of our subscribers, if you order your tickets using the promo code ‘SITENEWS-SUBSCRIBER’ at checkout before Aug. 15, you will receive 50% off. Use the link below to secure your spot today.

NEED TO KNOW

The week's headlines

🚗 Goodyear has announced a $575-million project to modernize and expand its plant in Napanee, Ont. The investment will help Goodyear create an energy-efficient, end-to-end manufacturing process and increase its production capacity, including EV and all-terrain tires. This project is expected to get the Goodyear Napanee plant to net-zero emissions by 2040.

🏠 Hines Interests LP, a real estate giant, plans to invest up to $2 billion in Canada, focusing on rental housing developments amid the country's affordable housing shortage. The Houston-based firm, with 850 properties globally, sees Canada's housing crisis, high property prices, and growing rental demand due to increasing immigration as a significant investment opportunity. 

🚒 Demolition has begun at a six-storey construction site in Dunbar, Vancouver, after a fire severely damaged the building, nearby homes and a crane. The city's efforts, in collaboration with Sightline Properties, B.C. Hydro, and WorkSafeBC, involve removing debris, scaffolding, and trees that pose a risk to nearby residences. 

🏗️ Bird Construction has secured five new projects valued at over $575 million, including civil site works and foundations for two industrial ventures in Alberta and Saskatchewan, a five-year master service agreement in the petrochemical sector, expanded scope in a nuclear project in Ontario, and a long-term care project in B.C.

PROJECT SPOTLIGHT

Sea Otter House

The təməsew̓txʷ Aquatic and Community Centre, also known as "Sea Otter House" in the hən̓q̓əmin̓əm̓ language, has opened in New Westminster, B.C., marking the city's largest capital project. Designed by hcma architecture + design, the center serves as a community hub, emphasizing inclusivity, wellness, and environmental sensitivity. 

PROJECT UPDATES

B.C. partners with First Nations to create safer access roads

Royal Alberta Museum to be demolished

Calgary invests millions to improve parks and playgrounds

Toronto mall cancelled after purchase by 95-year-old billionaire

Feds Investing $1.5B in two new Ottawa labs

WHAT WE’RE TALKING ABOUT

LIST: 🏊 7 pool projects helping Canadians cool down

READ: 🧳 Jasper residents returning to their community 

PHOTOS: 🌳 Vancouver architect plans mass timber skyscraper 

READ: 🐭 Disney details huge parks expansion 

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Here’s to a great rest of the week!

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