🔥 Forum in the 416

Together with

Good morning! 🦕 Paleontologists in Alberta have excavated a 272-kilogram skull of a Pachyrhinosaurus, nicknamed "Big Sam". The process required meticulous care, as the skull was found intertwined with about 300 other bones. To stabilize it, the team applied plaster and wooden supports before using a crane to carefully lift the skull from the site.

⏰ Today’s read: 5 minutes

MARKETS

*Stock data as of last market close; currency, oil and crypto data as of 10:30 PM ET Sept. 30th, 2024.

Economy:  The Canada Mortgage and Housing Corporation (CMHC) reported that housing construction in Canada’s six largest cities increased by 4% in the first half of 2024, driven by gains in Calgary, Edmonton, and Montreal. However, Toronto, Vancouver, and Ottawa saw declines of 10-20% due to high interest rates, costs, and regulatory delays.

THE BIG STORY

The Construction Leaders Forum takes Toronto

It was a huge week for the SiteNews community. The Construction Leaders Forum, the first ever official gathering of Top 40 Under 40 in Canadian Construction winners and high-level industry leaders, was held in the heart of downtown Toronto. 

Panels: Our four panels dove into a wide range of topics including tech, AI, contracts, risk, company culture, leadership, DEI and more. Panelists included presidents, CEOs, vice presidents, directors and more. 

Keynote: The event's powerful keynote address was delivered by Énska Advisors President and CEO, Tim Coldwell, who spoke about how construction can be used as a force for good. He challenged the construction industry to “slay” the industry’s three biggest dragons: stigma, productivity and mindset.

Tour: The day before the event, attendees descended into the depths of its 95-year-old venue, the Fairmont Royal York, led by Herman Gonzales, senior director of engineering and building projects. The Construction Leaders Forum was offered a rare look at the hotel’s $65-million decarbonization project.

Networking: The event wound down with an evening of drinks, food and networking. Attendees were also treated to BeauSoleil oysters shipped fresh from New Brunswick and prepared by master shucker Jean-Francois.

Final thoughts: You’ve heard us plug this event a lot in the past few months, but only because we felt it was important. After five years of 40 Under 40 we want to begin cultivating the community of winners. After all, these are some of the brightest minds the industry has to offer. Who knows what could happen if we keep bringing them together? For more event photos and a full recap, click on the link below.

NEED TO KNOW

The week's headlines

🛶 Ready to portage: True North Real Estate Development, the real estate arm of the Winnipeg Jets’ ownership, is set to finalize its acquisition of downtown Winnipeg’s struggling Portage Place shopping centre. The $650-million redevelopment plan will transform the site into affordable housing, healthcare services, and community spaces. Construction is expected to be visible by late 2024, with a projected completion in 2026.

🔐Economy unlocked: The Ontario government has initiated a technical evaluation for constructing a new driver and transit tunnel expressway under Highway 401 to alleviate gridlock in the Greater Toronto and Hamilton Area (GTHA). Feasibility work includes examining route options, soil testing, and understanding the project's economic impact. It’s estimated the gridlock costs $11 billion annually, with future travel times expected to double by 2051.

⚡Powering up: Ontario Power Generation announced plans to invest $1 billion over 20 years to refurbish 45 generating units at eight hydroelectric stations in eastern Ontario. This investment will secure 1,617 megawatts of generating capacity, enough to power 1.6 million homes, while creating over 500 skilled jobs. Major stations slated for refurbishment include Des Joachims and Chenaux, both operational since 1950. 

🏗️ Building blocks: B.C.’s NDP announced plans to expedite the construction of factory-built homes as part of its strategy to address the housing crisis in the province. If reelected this month, the party intends to create a provincewide framework in collaboration with industry, municipalities, and First Nations, which would include pre-approved designs to streamline permitting and promote skills training for prefabricated construction. 

COMPETITION

25 Innovators competition now open for submissions

Back for its second year, the 25 Innovators in Construction award is returning to recognize the groundbreaking companies shaping Canada's construction industry. Nominations are now open to celebrate the trailblazers driving advancements in robotics, AI, sustainability, workforce development and beyond. Join us in honouring those who are redefining the industry. Winners will be celebrated at an exclusive event and join the ranks of last year's top 25 innovators. Nominations close October 18th, 2024.

PROJECT SPOTLIGHT

The Well

The Well stands out as Canada’s most ambitious mixed-use development, situated in the vibrant west end of Toronto. The SiteNews team got a chance to see it in person while in Toronto last week for the Construction Leaders Forum. The  project encompasses 1.1 million square feet of office space, 500,000 square feet dedicated to retail and food services, and 1,700 residential units distributed across six architecturally striking buildings.

PROJECT UPDATES

Park board agrees to repair Jericho Pier for $1M

South Niagara Hospital project achieves WELL precertification

Request for Proposals issued for Eglinton Crosstown West Extension

Ghost River location selected for new Bow River Reservoir

Want more? Check out the latest full edition of Project Pulse in the link below.

WHAT WE’RE TALKING ABOUT

Watch: 🎨 Domino installation topples through Toronto

Read: 🚧 Ontario can learn from Boston's mega highway project

Read: ⛽ AtkinsRéalis lands role on U.S. regional hydrogen hub

Study: ♻️ 50% of firms would pay a premium for green steel/concrete

TOP CONSTRUCTION JOBS

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Here’s to a great rest of the week!

Disclaimer: SiteNews is an independently-operated news website. Views expressed are that of the editorial team and are based on publicly available information unless otherwise noted through sponsored content.