When it comes to cranes in the air, Toronto is leaps and bounds ahead of the rest of North America. realestate realestatenews construction Toronto
Toronto has nearly 200 more cranes dotting its skyline than 14 other major North American cities.from Rider Levett Bucknall , there were 238 cranes across Toronto in Q1 2023. The vast majority were dedicated to the residential construction industry, at 139, followed by commercial construction, at 35. Thirty-three were for mixed-use projects, while 10 were allotted to hospitality projects.
The significant number of cranes devoted to residential construction comes as the city works towards the Government of Ontario’s target ofToronto’s staggering number of cranes is not only the highest out of the 14 cities included on the index, but outpaces second-place Seattle’s 51 cranes by 187, and third-place Los Angeles’ 47 cranes by 191. Calgary, the only other Canadian city on the index, had 20 cranes in the first quarter of the year.
Released bi-quarterly, the Crane Index tracks the number of fixed cranes on construction sites across North America. The Q1 2023 iteration found an increase of 7.04%, or 34 cranes, from Q3 2022. While eight cities saw the number of cranes increase, four maintained the same count and two saw the number of cranes decline. Rider Levett Bucknall expects the number of cranes to remain high throughout 2023.
“Notwithstanding concerns for the housing market, residential and mixed-use projects make up 73% of the overall count. We anticipate the number of cranes to remain high into 2023. Despite uncertain market conditions, construction projects will continue to break ground, albeit at a cost.” Toronto’s overall crane count increased by eight; even though 31 projects have wrapped over the last six months, this latest figure includes 37 new projects. By project type, residential saw the most significant increase, adding 13 cranes, while commercial projects dropped by six cranes.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Toronto man faces nearly 40 charges after allegedly stealing from multiple vehiclesToronto police have laid nearly 40 charges against a 51-year-old man after items were stolen from inside multiple vehicles.
Read more »
Opinion | It’s not Toronto vs. everybody: Toronto is for everybodyOpinion: It’s not Toronto vs. everybody: Toronto is for everybody. Toronto mayors John Tory and Rob Ford, spent more than a decade ignoring what the pandemic laid bare — Toronto is a city that only works for some.
Read more »
North Toronto home sells after asking price cut twiceThis four-bedroom house was finally sold after being relisted at a new price of $2,589,000
Read more »
SZA announces Toronto concert date for new North American tourGet ready for SZA 2.0 Toronto; the megastar is returning to our city for another concert date during her newly announced North American tour. That'...
Read more »
Giordano voted Maple Leafs' Masterton nominee by Toronto chapter of PHWAPerseverance, sportsmanship and dedication to hockey. As the oldest skater in the NHL, Mark Giordano exemplifies those qualities.
Read more »
The new food at Rogers Centre in Toronto ranked from best to worstThere's new food at Rogers Centre and it was all unveiled when the Toronto Blue Jays showed off the first phase of renovations at the Rogers Centre...
Read more »