🏗️ Golden opportunity

Come sail with us, job numbers present opportunity and a spongy tower.

Together with

Good morning! 🖥️ Winnipeg’s new Chief Construction Officer, Tom Sparrow, says he is introducing AI to the job site to help keep projects on time and on budget. From 360° cameras spotting risks to software that sifts through mountains of data in seconds, tech is taking the wheel. Add in smarter contracts, better coordination with utilities, and even the possibility of overnight work.

⏰ Today’s read: 5 minutes

MARKETS

Economy:  A temporary easing in the U.S.-China trade war sparked a global market rally on Monday, lifting Wall Street to its strongest gains since April and boosting the TSX to its highest close since February. While the U.S. slashed tariffs from 145% to 30% and China reciprocated, Canadian markets saw more modest gains, tempered by falling gold prices and rising bond yields. Still, optimism reached Canada, with BMO's chief economist noting the improved trade climate could support Canadian exports and commodities.

TOGETHER WITH BM GROUP

SiteSummit: An ocean adventure awaits in North Vancouver

A 121-foot yacht, an invite-only crowd, and a view of Vancouver you won’t forget. Monday night, SiteSummit’s VIP yacht experience sets sail aboard Ascente, just steps from the Polygon Gallery. Expect SiteLagers, cocktails, appies, and great conversation aboard one of the harbour’s most impressive vessels. This private activation is made possible by BM Group. It’s invite-only, but if you’re hoping to secure a spot, reach out to us here: [email protected].

NEED TO KNOW

The week's headlines

New laws: ⚖️ Proposed legislation in Ontario aims to accelerate housing and infrastructure development by streamlining approvals, reducing costs, and standardizing processes across municipalities. Backed by $2.3 billion in funding, the legislation targets high development charges and permitting delays while promoting transit-oriented communities and consistent building standards. Municipal leaders and industry groups support the bill as a key step toward addressing the housing crisis and improving affordability.

Big data: 🖥️ TransAlta Corp. is advancing plans to partner with data centre operators in Alberta, aiming to finalize exclusivity deals by mid-2025 and begin operations 18–24 months after definitive agreements are signed, with TransAlta supplying up to 90% of their power needs from its natural gas-fired plants. This aligns with Alberta’s broader push to attract $100 billion in AI-focused data centre investment. 

Backlog unclog: 🪠 Toronto’s 2025 Corporate Asset Management Plan outlines a $32 billion infrastructure investment strategy aimed at reducing the city’s repair backlog by $8 billion—from $26 billion to $18 billion—while improving service reliability. Covering both core and non-core assets, the plan assesses lifecycle costs, future demand, and funding strategies. 

National expansion: 🤝 RWC Systems Inc., a leading B.C.-based drywall and interior systems contractor, has partnered with Corbell Private Capital, which has acquired a majority stake to support RWC’s national expansion. Corbell will provide capital, strategic support, and a national network to help scale operations, especially in Eastern Canada.

THE BIG STORY

Tariff troubles: Can construction catch falling workers?

Crisis? Maybe. Opportunity? Definitely. Construction is ready to absorb displaced workers as Canada’s labour market is taking hits from U.S. tariffs and a shaky trade outlook — especially in manufacturing-heavy regions. But with the crisis comes a chance to rethink where Canada’s workforce is headed. And construction, long plagued by chronic labour shortages, is quietly preparing to catch the wave.

Numbers in the red: Canada shed more than 30,000 manufacturing jobs last month. Ontario alone lost 35,000 positions, led by mass layoffs in the automotive sector. Windsor’s unemployment rate surged to 10.7% after shutdowns at the Stellantis plant. Overall, the national unemployment rate ticked up to 6.9% — and economists say it’s headed above 7%.

Trade trouble: Since April, vehicles with non-U.S. content have faced a 25% tariff at the border. Steel, aluminum, and energy goods haven’t been spared either. The result? Layoffs, uncertainty, and a likely interest rate cut from the Bank of Canada. “This is the first major data reading for April, and it shows that tariffs are already taking a material bite out of the economy,” said BMO’s Douglas Porter.

Silver lining: Construction isn’t just weathering the storm — it’s hiring. In fact, the industry’s long-standing labour crunch could benefit from a rebalancing of Canada’s workforce. With wages averaging $38/hour and roles ranging from trades to tech, construction offers stability and upward mobility in a volatile job market. Alberta is literally paying trades people to move there, offering $5,000 bonuses. 

Ontario’s $1B response: Provinces looking to offset economic hardship on workers are turning to construction. Ontario is doubling down with a $1-billion expansion of its Skills Development Fund (SDF), pushing the total program to $2.5 billion over three years. Funds will support hands-on training and help laid-off workers transition into high-demand industries like construction.

What it funds: The SDF will support both new training programs and capital investments in training facilities. Organizations can expand or retrofit facilities to fast-track thousands of workers into better jobs with bigger paycheques. “We are taking bold actions to support our workers and businesses,” added Finance Minister Peter Bethlenfalvy.

The bottom line: As layoffs ripple through trade-exposed sectors, construction stands ready. The industry’s message to displaced workers is simple: we’re hiring — and we’ll train you.

PROJECT SPOTLIGHT

Sponge worthy

Holborn Group, in partnership with Henriquez Partners Architects, has proposed a transformative mixed-use development in downtown Vancouver that includes four architecturally innovative towers inspired by Pacific Northwest glass sea sponges. Spanning three sites, the project features nearly 2,000 residential units and a 920-room hotel poised to become B.C.'s tallest building. One tower, gifted to the city, would provide 378 social housing units and community facilities, reflecting a strong commitment to reconciliation, sustainability, and urban revitalization. The proposal is currently under review by the City of Vancouver.

PROJECT UPDATES

Rocky Ridge Athletic Park construction begins

EllisDon awarded Montreal-Trudeau Airport contract

Toronto begins work to replace 142-year-old watermain

WHAT WE’RE TALKING ABOUT

PHOTOS: 🌷 Toronto’s iconic ‘Dome’ to open following years of construction

READ: 🪵 Is ‘Vienna House’ is the new prototype for public housing?

PHOTOS: 🦌 Dialog engineers new wildlife overpass

READ: 🏠 St. John’s wants to convert this heritage building into micro housing

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