🚅 Laying track

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Good morning! 🤖 Imagine a city where robots take out the trash, AI orchestrates daily life, and self-driving buses serve coffee—welcome to Woven City, Toyota’s $10 billion experiment near Mount Fuji. The futuristic hub is designed for researchers and startups to collaborate on cutting-edge tech, from autonomous transport to hydrogen power.

⏰ Today’s read: 5 minutes

MARKETS

*Stock data as of last market close; currency, oil and crypto data as of 7:30 PM ET Feb. 24, 2025.

Economy: Yesterday, U.S. President Donald Trump confirmed plans to impose 25% tariffs on Canadian and Mexican imports by early March. Prime Minister Justin Trudeau vowed dollar-for-dollar retaliation, calling the move unfair and a USMCA violation. Trump initially tied the tariffs to border security, prompting Canada and Mexico to boost enforcement. In a recent call, Trudeau highlighted Canada’s efforts, but Trump remains committed to the tariffs.

NEED TO KNOW

The week's headlines

Battle plan: 📈 Economists warn that U.S. tariffs on steel and aluminum could disrupt Canada’s construction sector by raising costs and deterring investment. While some, like Julien Karaguesian, see a silver lining in potential government spending, others, including Werner Antweiler and Jock Finlayson, caution against retaliatory tariffs that could worsen inflation. Experts advise builders to reassess supply chains, consider domestic sourcing, and prepare for economic uncertainty.

Big loan: 💰 Canada has announced over $675.6 million in contributions and low-cost loans to support 83 housing projects in B.C., creating and repairing 5,099 homes, with a focus on vulnerable populations. Funding comes from multiple initiatives under the National Housing Strategy, including the Affordable Housing Fund, Rapid Housing Initiative, and Apartment Construction Loan Program. 

Price check: 🛒 Loblaw plans to invest $10 billion over five years, including $2.2 billion in 2025, to expand and modernize its grocery and pharmacy operations. This includes opening 80 new stores—about 50 of them discount grocers—renovating 300 locations, and enhancing its supply chain with automation, such as its new East Gwillimbury distribution center. 

Booster shot: 💉 Nova Scotia has finalized a construction agreement with Plenary PCL Health to build a new 14-floor acute care tower at the QEII Halifax Infirmary, marking a major milestone in the province’s largest healthcare infrastructure project. Scheduled for completion in fall 2031, the $7.4 billion project will add 216 beds, 16 operating rooms, a 48-bed ICU, and a significantly expanded emergency department. Construction is set to progress with tower cranes and foundation work beginning in May.

THE BIG STORY

Not so fast: Can we really build high-speed rail?

Prime Minister Justin Trudeau announced Canada wants to put down tracks for its largest project ever—Alto, a high-speed rail line from Ontario to Quebec. The 1,000-km project would connect major cities with speeds up to 300 km/h, potentially cutting Toronto–Montreal travel to under three hours. 

It won’t be cheap: Led by the Cadence consortium—including CDPQ Infra, AtkinsRéalis, Air Canada, Keolis, SYSTRA, and SNCF Voyageurs—the project’s estimated cost ranges from $60B to $90B, with some estimates reaching $120B. A five-year design phase, funded with $3.9B, will precede construction, which could take another five to seven years per segment.

It won’t be simple: With design complexity, land acquisition, environmental assessments, labor/materials price fluctuations, and community/stakeholder negotiations, cost can spike fast. Rail projects like Eglinton LRT and REM in Montreal have encountered repeated overruns, and the California high-speed rail project is a cautionary tale with costs ballooning from USD $33 billion to an estimated USD $180 billion. 

What we get for it: The project could generate billions in economic benefit, but it depends on who you ask. A summary by the Via Rail subsidiary overseeing the project put its benefits at $24.4-billion per year. However the C.D. Howe Institute estimates $450 million in benefits per year. While costs/benefits can be debated, projects can work. Recent data shows the Elizabeth Line in London has significantly boosted jobs, housing and livability. 

Fact or fiction: Canada has seen ambitious high-speed rail proposals dating back to Pierre Trudeau's government, yet none have materialized. Justin Trudeau is also on his way out, creating uncertainty around Canada’s political direction. But this time billions have already been put on the table and Canada is facing a potential economic crisis that could unite political agendas to get this train all the way to the station. 

EVENTS

Industry Icebreaker: Hardhats & hockey in Edmonton

Hockey, construction, and networking collide! Introducing the inaugural Industry Icebreaker: a VIP Oilers game, a fireside chat, and intimate networking for construction leaders. SiteNews is partnering with ICBA Alberta for an event that brings together the industry and the world of hockey. The Icebreaker will feature insights from Trevor Muir, one of the founders and former CEO of Surepoint Group, at the Edmonton Oilers Hall of Fame. The event also includes networking opportunities high above Rogers Place where attendees can watch the Oilers take on the Kings from a VIP club and lounge.

📆 When: April 14, 2025

📍Where: Rogers Place, Edmonton

🤝 What: Fireside chat with Trevor Muir, networking, and a VIP Oilers game experience.

PROJECT SPOTLIGHT

New Quay unlocked

The Quay in Toronto has announced phase two of its waterfront rental development at 370 Queens Quay West, featuring 340 apartments with views of Lake Ontario and the city skyline. Designed by BDP Quadrangle Architects, the project includes luxury amenities such as a rooftop pool, fitness center, theatre room, business center, and 24/7 concierge service.

PROJECT UPDATES

Port Alberni's first new hotel in 45 years on its way

CIT undertakes campus infrastructure renewal

Large-scale indoor water park planned for Cité Mirabel

Nordik DC partners with Accelsius for data center in Montreal

Expansion of Calgary’s Rockyview General Hospital nears completion

Marda Loop getting revamped pedestrian pathway next to Crowchild Trail

Get our full breakdown of the week’s project updates in the link below

WHAT WE’RE TALKING ABOUT

READ: 🏠 Toronto developer ditches micro condo trend

READ: ❄️ Meet Montreal’s snow-fighting fleet 

PHOTOS: 🎸 Why B.C. tonewood is pitch perfect for guitars

READ: 💡 LGA shines bright in Canadian architecture

VIDEO: 🦞 Surfer builds Nova Scotia dream home on the water

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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.