⛽ Pump pain

Together with

Good morning! 📱 If you’re reading this on an iPhone, you probably already know. Apple CEO Tim Cook announced he is stepping down later this year, ending a 15-year run at one of the world’s most successful companies. Cook was critical in ensuring one of Steve Jobs’ final passion projects, Apple Park, came to fruition. He oversaw the $5-billion build after Jobs’ death in 2011.

⏰ Today’s read: 5 minutes

MARKETS

Economy: National vacancy rates for both office and industrial properties declined simultaneously for the first time since 2020. Driven by a surge in return-to-office momentum and a significant slowdown in new construction, the office market is beginning to stabilize at a 13.6% vacancy rate.

TOGETHER WITH PROCORE

Share your thoughts. Enter for a chance to win (big)

Take our short survey on AI and construction tech adoption. Your insights will help us map key industry shifts, and you’ll be entered for a chance to win a $2,000 golf + spa experience*.

*No purchase necessary. Open to Canada (excl. QC), 4/1/26–5/15/26. Total prize value: $4,296.70 CAD. Odds depend on entries. Void where prohibited. See here for full T&Cs. Sponsor: SiteMedia.

NEED TO KNOW

The week's headlines

🤝 Acquired: Building products giant QXO will acquire TopBuild Corp. for approximately $23.29 billion, a move that will establish the combined entity as the second-largest publicly traded building products distributor in North America. 

💻 AI fabric: Bell Canada has broken ground on a new AI data center at Thompson Rivers University in Kamloops, British Columbia, as part of a national "AI Fabric" initiative designed to enhance Canadian technological sovereignty through sustainable infrastructure. 

⛏️ Underground: The tunneling phase for the downtown segment of Toronto’s Ontario Line has begun. Two specialized machines will excavate 40 metres underground from Exhibition Station toward the Don Yard.

📚 Modular learning: The Alberta government is investing $600 million over the next three years to expand the use of modular classrooms, addressing critical overcrowding caused by the addition of more than 80,000 students since 2023.

THE BIG STORY

Running on empty: Construction’s gas price shock

Rising costs: Following the escalation of the Iran-U.S. conflict, Canadian fuel markets experienced a historic shock, with gasoline prices seeing a record-breaking 21.2% monthly jump in March alone.  Diesel was hit even harder, surging by 74 cents per litre. Experts say this means higher costs, tighter margins, fewer bidders, higher bids, and more. 

Thirsty machines: Construction is one of the nation’s most diesel-intensive industries. In 2023, builders used approximately 1.72 billion litres. Why? Diesel is the lifeblood of the industry, accounting for nearly 70% of all energy used on construction sites.

Tax holiday: In response to the 2026 fuel crisis, the federal government has temporarily suspended the federal fuel excise tax, effective from April 20 to September 7, 2026. This removes 10 cents per litre from the price of regular gasoline and 4 cents per litre from diesel. Builders say the relief is welcome but the overall volatility is a larger issue. 

Change is hard: Mitigating the risks is tough. Steven Crombie, Senior Director-Public Affairs, Ontario Road Builders Association, says our systems are built on over a century of infrastructure designed around gas and diesel.

A new roadmap: A coalition of Canada’s largest general contractors is spearheading a transition away from diesel—which accounts for 65% of a typical construction project’s carbon footprint—by prioritizing electrification and renewable energy alternatives. However, this hinges on electrification and hybrid technology achieving significant progress.

EVENTS

600+ of the best in the business. Are you one of them?

The people going to SiteSummit 2026 are the people building Canada.

June 23-24 at George Brown's Waterfront Campus in Toronto, 600+ of construction's greatest players will spend two days in one of the most intentionally designed events in the industry. 

But don’t just take our word for it. Here’s what a few leaders had to say:

"Best conference I have been to in years!" - Paul Trudel, CPO @ EllisDon

“Extremely well done. Top notch.” - Ben Taddei, COO @ Conwest Developments

“Easily the best espresso bar I've seen at a construction event and the yacht tour wasn't bad either.” - Hammad Chaudhry, Principal @ Cupix

And for those who want to get ahead of the room — there's an Island Social the night before: Private charter. 100 spots. A mystery destination on the Toronto Islands.

Tickets for both are available now.

PROJECT SPOTLIGHT

Civic generosity

A piece of New Brunswick’s art community just won a Lieutenant Governor’s Award. Completed in 2022, the Harrison McCain Pavilion serves as a 9,000-square-foot expansion for the Beaverbrook Art Gallery in Fredericton. Designed by KPMB as a broadly inclusive social hub that blurs the boundaries between the museum and the city. Judges rewarded the project for its “civic generosity”.

PROJECT UPDATES

Portage Place project hits tower crane milestone

Rural Alberta school delayed due to costs

14-storey Vibe breaks ground in Calgary

Financing closes for 185.6-MW wind project in Quebec

Magnesium mine injunction remains in effect

Dawson Creek hospital nears completion

WHAT WE’RE TALKING ABOUT

🎙️ PODCAST: Lafarge’s global reputation is in hot water

🏠 PHOTOS: Got $8M? Toronto’s Bezier Curve House is up for sale

💰 READ: First Capital acquired for $9.4B

🗼 WATCH: Why this 93-floor skyscraper is nearly empty

🪵 READ: Psst! Wanna see a mass timber basement? 

ADVERTISE WITH SITENEWS

Get your message and brand in front of Canada’s construction leaders and decision-makers by advertising in our newsletter. Learn how to partner with us here.

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.