Montreal’s Place Versailles shopping center is about to get a facelift. The iconic property, once a retail hub on Sherbrooke Street East, is set to be at the center of a $2.2 billion redevelopment that will add over 5,805 housing units, including 979 social housing units, and a fresh new urban design. The Place Versaillesproject marks one of the city’s largest mixed-use redevelopments in recent history, shifting the focus from big-box retail toward housing and pedestrian-friendly streets.
Housing, retail, and office space take center stage in Place Versailles
Developer Groupe Mach plans to demolish a large portion of the mall, keeping only 200,000 square feet of retail while integrating shops and services into the ground floors of residential towers. The new neighborhood will include more than 1.5 million square feet of housing in the form of rental apartments and affordable units. Mach says at least 15 percent will be set aside for affordable housing helping to address Montreal’s growing housing crisis.
Place Versailles project rendering
Alongside the residential build, the site will see 500,000 square feet of office space, a public plaza, a new elementary school, a daycare, and green spaces. The plan also calls for a redesigned bus terminal and transit connections to encourage active transportation. Groupe Mach’s goal is to make Place Versailles a walkable neighborhood where residents can live, work, and access services within a few blocks.
By reusing land previously locked into surface parking and low-density commercial uses, the project reduces urban sprawl and car dependency. Plans also include landscaped roofs, green corridors, and buildings designed to meet energy efficiency standards, though final certifications have yet to be confirmed.
This massive overhaul is seen as a way to reimagine aging shopping malls into thriving residential and commercial hubs. According to the city, the project is expected to create over 5,000 jobs during construction and add much-needed housing units in a neighborhood that has seen minimal residential growth in decades.
Demolition of parts of the mall are expected to begin in 2026, with phase one units available by 2028. Groupe Mach hopes the project will inject new life into the area, attracting young families and retirees looking for urban living options with local amenities.
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Toronto recently broke ground on its tallest mass timber residential building. The project at 230 Royal York Road is a nine-story development made almost entirely of prefabricated mass timber. Once the pieces arrive on-site, crews will have just 90 working days to get the structure up. Designed by LWPAC and built by the team atIntelligent City, the building is the first of its kind in the city: a mid-rise apartment complex constructed from engineered wood components that were built off-site using robotic machinery and AI.
Image sourced from Intelligent City
Mass timber construction: A faster way to build housing
Toronto’s housing crunch isn’t a secret. It’s one of the most expensive cities in the world to live in, with the average detached home going for 1.44 million in 2025. This project aims to prove that prefabricated timber can scale and provide affordable housing in a market desperately needing quality housing fast.
Windmill Developments and Leader Lane Developments have been pushing for this kind of construction since 2017, with an eye on reducing costs and schedule pressure for mid-rise residential developments. With the city and the Canadian federal government planning to invest more in housing, many hope this project becomes a model for repeat builds.
Building a mid-rise condo usually takes 18 to 24 months, depending on the size. With mass timber construction methods, this building is expected to be assembled in less than three months. Instead of waiting for traditional framing or concrete cures, windows, insulation, and interior systems follow close behind the assembly. For developers, this process shortens the time from permit to occupancy, providing the potential to quickly use capital for new projects.
The construction process at 230 Royal York Road
The process to build Toronto’s tallest mass timber residential building is different that traditional methods as that The wood components come from Intelligent City, a prefabrication plant near Toronto where robotics and AI are now part of the standard production line. Automated machines cut and pre-assemble panels, columns, and beams before being shipped to the site. That includes pre-drilling holes, integrating duct runs, and ensuring all tolerances match precisely.
For crews on-site, the building process is simplified as they simply have to put the pieces together and secure the structure. The pieces are labeled, mapped, and ready to be slotted in. According to Intelligent City, this process makes their work safer and faster.
Is mass timber the future of mid-rise condos?
Mass timber is emerging as a compelling solution for mid-rise condominium construction in Toronto, driven by the city’s urgent need for sustainable and scalable housing. With approximately 682 mid-rise buildings (5–11 stories) in the development pipeline and only 28% completed, there’s a significant opportunity to adopt faster and greener construction methods. Mass timber offers considerable advantages:
Carbon storage: Trees absorb carbon dioxide as they grow. When turned into timber, that carbon stays locked in the wood for decades, helping reduce atmospheric CO₂.
Lower emissions: Mass timber construction produces significantly fewer greenhouse gas emissions than concrete or steel production, which are highly energy-intensive.
Renewable resource: Timber comes from trees, which can be replanted and regrown. Sustainable forestry practices help ensure long-term availability.
Less construction waste: Prefabricated timber panels are cut to size off-site, which reduces on-site waste and speeds up construction.
Efficiency: With more work done off-site, construction is cleaner, quieter, and faster.
The province of Ontario has already completed 151 mass timber projects, with more underway, signaling growing industry confidence. Furthermore, Toronto’s updated building codes now permit mass timber buildings up to 12 stories, paving the way for broader adoption in mid-rise developments. This is a positive sign for the younger generation hoping to get into the housing market in the future. With faster build times the supply of new condos could ease the sky high price growth that has made housing so unaffordable for many in Toronto.
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Canada’s first large-scale mass timber industrial plant is officially breaking ground in Elmsdale, Nova Scotia, an exciting step toward greener building and stronger local economies. Backed by a $10.5 million federal investment, this facility will use eastern Canadian spruce to manufacture structural panels for residential and commercial construction, all while creating more than 100 skilled jobs in the region.
The new plant is a joint project between the federal government, the Province of Nova Scotia, and Lloyoll Built, a sustainable building company based in Brooklyn, N.S. The site will operate as a fully integrated facility, processing wood, assembling panels, and manufacturing modular housing components in one location. That means fewer emissions, less waste, and a streamlined supply chain that benefits builders and buyers.
Image sourced from Shutterstock
The new mass timber facility in Elmsdale is expected to create 124 new jobs and significantly boost Nova Scotia’s growing offsite construction sector. With an added 2.5 million square feet of annual construction capacity, the plant will help close a critical gap in Canada’s national mass timber supply chain. It’s a boost not just for the economy but for climate-conscious housing initiatives across the country.
“MTC will be one of the world’s most advanced manufacturing facilities… maximizing the value of our forests from tree to city,” said Patrick Crabbe, President and CEO of Mass Timber Company.
Mass timber has been gaining popularity as a sustainable alternative to concrete and steel. It’s lighter, faster to build with, and stores carbon rather than emitting it. With Canada facing a nationwide housing crunch and growing pressure to decarbonize the construction industry, the timing of this facility couldn’t be better.
“Today’s investments are excellent examples of how we can reduce emissions while ensuring the long-term sustainability of the lumber industry,” said Jonathan Wilkinson, Minister of Energy and Natural Resources. Elmsdale’s new plant positions Atlantic Canada as a leader in green building innovation while keeping the roots of that innovation deeply local.
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The Electrical Safety Foundation International (ESFI) has released a report detailing occupational electrical fatalities and injuries from 2011-2023. Data was gathered from The U.S. Bureau of Labor Statistics (BLS) and the Occupational Safety and Health Association (OSHA). There were 1,940 workplace fatalities involving electricity during the 12 years, 74% of which occurred in non-electrically related occupations. The construction industry had the highest number of electrical fatalities.
Source: esfi.org
ESFI President Brett Brenner explains that this data is crucial to improve awareness and workplace safety around electrical injuries and fatalities, saying, “As the leading authority on workplace electrical safety, ESFI compiles this yearly data set to track the occupations most at risk for a workplace electrical incident. ESFI then uses this information to create workplace safety materials to reach a wide audience of workers. ESFI’s materials provide valuable information to help employees make safe choices and provide tips for creating a safer work environment. Utilize ESFI’s free-to-share resources to elevate the safety of your workplace and prevent avoidable workplace injuries and fatalities from occurring.”
To further break this down, here is a list of the leading causes of electrical fatalities and the occupations most at risk:
Electric fatality causes (as reported to OSHA)
48% working on or near energized wires or parts
41% contact with overhead powerlines
6% lockout/tagout safety devices removed
3% PPE issue
1% Arc flash/blast
Occupations with the most electrical fatalities (as reported to OSHA)
Electricians:195
Construction laborers: 119
Laborers, except construction: 117
Electrical power installers and repairers: 109
Tree trimming occupations: 94
HVAC and refrigerator mechanics: 42
Electricians’ apprentices: 37
Heavy truck drivers: 35
Roofers: 29
Painters, construction, and maintenance: 28
Of the workers who experienced fatal injuries involving electricity, 33% died at private residences, 28% died in industrial locations, and 11% of fatal injuries occurred on a street or highway.
Construction delays are one of the biggest issues in construction, and they cost companies on multiple levels. The most common causes of delays include labor, cost overruns, material procurement, safety infractions, and weather interruptions. Luckily, acting quickly to assess the cause of the delay, rebuilding the schedule, and investing in the right software can help get your project back on course.
Quick look
Construction delays are common, with only 25% of projects finishing within 10% of the original timeline.
The top causes of delays include supply management (21.41%), workforce management (20.79%), project management (17.64%), and climatic conditions (9.34%).
Key delay factors include poorly executed handoffs, labor shortages, material procurement issues, scope changes, weather, cost overruns, and safety infractions.
Assessing the cause of a delay, rebuilding the schedule, and investing in project management software can help minimize disruptions.
Software solutions like ALICE and Smartbuild assist with timeline recovery, scheduling, and project management to keep construction projects on track.
Construction delays are too common
In the current market, construction delays happen more often than not. According to data from KPMG, only 25% of construction projects are finished within 10% of the original timeline. The McKinsey Global Institute also states that the larger the project, the more the completion date is pushed out, with 98% of “mega projects” typically over budget, delayed, or both.
While delays are commonplace in the industry, that doesn’t mean they aren’t preventable. A 2021 study identified the most common categories of delays and found that four main factors cause them.
Supply management: 21.41%
Workforce management: 20.79%
Project management: 17.64%
Management of climatic conditions: 9.34%
These factors account for 69.18% of the sample variance and can be further broken down into more specific, preventable causes.
The 7 most common reasons for construction project delays
1. Poorly executed handoffs
Handoffs between project disciplines must be executed clearly and precisely to prevent delays. When these transitions between trade partners are mismanaged, it requires replanning, additional meetings, updated scheduling, and wide internal communications.
A poorly executed handoff also leads to labor congestion and unnecessary rework, further impacting productivity and pushing deadlines. To reduce the likelihood of a poor handoff, companies need to implement a clear communication workflow between trades workers so proper status updates can flow between transitioning parties.
2. Labor issues
Labor issues on the job site could lead to various worker-related delays. Staffing issues such as labor shortages, improperly scheduled manpower, and hiring the wrong contractors could greatly delay any project.
Currently, the construction industry is experiencing a persistent skilled labor shortage that drives costs and delays completion. With increasing labor demands and no immediate solutions, companies must proactively extend timelines to ensure a realistic completion date and avoid disruptions.
3. Material procurement
Issues with procuring equipment and materials typically stem from delivery delays. When these deliveries are pushed back, they significantly disrupt any project timeline. Because these supply chain blockers are often unexpected, flexible scheduling around material availability is now an integral step in successful construction project management.
4. Changes in project scope
The scope of work in project planning defines all tasks, to-dos, and essential first steps on the job site. Often, the scope is broken down into a simple checklist, which must be reworked if the project scope or design changes. This creates a ripple effect throughout the project that eventually pushes the completion date.
Changes in project design usually result in rework. These changes also create discrepancies or modifications in the major planning and confuse the workforce. Therefore, additional time is needed to reroute the planning and communicate changes before the project can proceed.
5. Weather
The most unpredictable delay in any project is a delay with Mother Nature. The construction industry is highly vulnerable to adverse weather conditions such as high winds, heavy rain, and temperature extremes that can put the most routine work on hold.
These severe conditions can throw off scheduling, labor productivity, material delivery, and more cogs in the machine, creating delays and extended completion timelines.
6. Cost overruns
Many projects exceed the initial budget. This causes a ripple effect: Employees and workers will not work unless they are paid, and customers will not pay more than originally arranged if the scope of the project changes.
Cost overruns are often caused by incorrect or poor estimations. If budgeting inaccuracies occur, some worksites can be shut down for weeks or even months. According to a 2021 survey, a majority (75%) of construction owners exceeded their planned budgets, and 77% of projects experienced delays. These delays were, on average, 70 days beyond the original completion date.
7. Safety issues and injuries
Lastly, safety infractions, injuries, and fatalities can significantly delay any construction project. All construction sites are high-risk hazard areas, and in many countries, the fatality rate in construction is higher than in other industries.
When workers get injured, it results in additional costs to replace the labor, scheduling changes, loss of productivity, and ultimately extended deadlines, depending on the severity of the injury. Implementing proactive safety measures is key to reducing the risk of injury, fatality, and construction delays.
How to recover from project delays
Assess the state of the project
Before taking action to mitigate the impact of a project delay, you need to thoroughly assess the current state and communicate with all appropriate stakeholders. Determining the root cause may require interviews, phone calls, or meetings, but the results mean a more appropriate next step forward. Some questions to consider during the assessment include:
What was responsible for the delay?
Who oversaw or participated in the root cause?
Was it an internal interruption, or did it come from a consultant?
Which other external factors may have contributed?
Once these questions are answered, it’s important to inform the responsible parties that a lack of communication or proper management is blocking the project’s progress. Awareness is key to ensuring that the delays don’t happen again. Then, brainstorm together to create an action plan.
Ideally, this should be a preemptive conversation with all stakeholders to anticipate where and why a delay may occur. Anticipating a delay is the best method of prevention.
Build a new schedule
Following the assessment, your team must build a new plan and schedule to move forward. This new plan needs to include all appropriate stakeholders and start by identifying how each party has been impacted based on the original schedule.
As a team, identify the highest-priority tasks and their deadlines to get the project back on track and reduce the impact of the delay. Anything non-urgent should be deprioritized and pushed back to accommodate the equipment and resources required to complete the new high-priority tasks.
Invest in software
Construction companies should invest in software designed to handle the unique needs of tradespeople and AEC projects to prevent delays and steer them back on course. The right software will be able to handle adjusted deadlines, specialty contracting, invoicing, scheduling, proposals, and more. Examples of the most comprehensive software include:
The ALICE platform is the world’s first pioneering tool that allows contractors to keep projects on track and quickly recover the ones that might veer off course. It creates schedules to aid with timeline recovery, which helps you avoid liquidating damages and thereby protect your project margins.
Smartbuild is a project management tool for construction professionals that offers flat-rate pricing and quick onboarding. It supports contract management, project delivery, labor production management, proposal drafting, and more. Three platforms, smartGC, smartSUB, and smartDesigner allow contractors and companies to supercharge their projects.
Bottom line
Sometimes, project delays are inevitable. By understanding the leading causes like labor issues, material procurement, and changes in scope, your team can better anticipate and mitigate a delay and stay on track.
Investing in the right software, such as Smartbuild and ALICE, will keep you prepared and organized. In the event of a delay, a thorough assessment and revised schedule will help soften the impact. Today’s delay could be a great improvement tomorrow.
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Distributed fiber optic sensing (DFOS) technology is reshaping the way construction professionals and engineers apply sustainable infrastructure monitoring in the industry. This technology’s main benefits include smart material usage, better waste reduction strategies, and improved safety measures, ultimately promoting a circular economy in construction.
What is fiber optic sensing technology, and how does it work?
DFOS utilizes optical fiber sensors to measure temperature and strain. These sensors are lightweight and resistant to electromagnetic interference, in contrast to traditional sensors. In construction applications, DFOS offers distributed, continuous measurements over long distances. This technology is employed for infrastructure monitoring, including assessing environmental conditions and reevaluating industrial processes.
This technology is increasingly impactful in promoting the sustainability of construction, engineering, and architecture. It works by sending pulses of light through a fiber optic cable. It then analyzes the backscattered light upon its return. The results are reliable readings of temperature and strain (or vibrations) along the fiber.
How DFOS supports circular construction practices
Smart material usage
DFOS allows engineers to better monitor load distribution and simplify their design methodology. They can also reduce the impact of over-engineering and use fewer material resources wherever possible. This waste reduction plan, which involves only using materials truly needed for each project, promotes a circular construction practice and streamlines processes.
Sustainable building and infrastructure monitoring
It’s becoming increasingly common to embed fiber optic cables in concrete, another construction element making strides in sustainability, to monitor a building’s structural integrity and performance. This allows engineers to detect micro-cracks before they become problematic and thereby extend the structure’s life.
DFOS technology can also be retrofitted to pile foundations, and the pile can be assessed to see how much is suitable for reuse.
Improved safety measures
By assessing design loads against measured loads, discrepancies can be identified at an earlier stage, allowing for adaptation and pivots in the construction process. For example, overloaded load-bearing walls and elements can be minimized when detected early. Then, the project can be redirected to prevent incidents and potential injuries or fatalities from building collapse.
Smarter waste-reduction strategies
When a structure’s strains and stresses are identified, engineers and construction professionals can better assess which materials are required to maintain its structural integrity in future projects. They can also determine which materials, if any, can be extracted and reused to promote the building’s longevity.
This is just one smart sustainability strategy, facilitating a shift from linear construction to a more circular model, where resource conversation, material optimization, and waste reduction are key to current and future building.
Recommended fiber optic sensing technology applications in construction
Structural health monitoring for bridges and tunnels
DFOS technology is increasingly used to measure the structural integrity and health of bridges and tunnels. The monitoring comprehensively assesses any potential stress points or potential damage across large areas with high-resolution and sensitive data.
Geotechnical monitoring for soil stability
DFOS sensing parameters can also determine soil moisture content and displacement, potentially detecting landslide risks early. Given the risk level of a specific area, this technology aids construction project managers in site selection and project scope.
Pipeline and utility infrastructure monitoring
Lastly, DFOS technology is frequently utilized in pipeline and utility monitoring due to its leak-detection capabilities. The fiber optic cables can identify leaks and vulnerable areas in pipes, tunnels, tubing, and other utility materials and infrastructure. This accurate and timely damage detection enables workers to be proactive about repairs and material usage.
Final thoughts
The construction industry collectively introduces more sustainable practices in every phase, from concept to completion. DFOS comes into play during the design process for structural health monitoring by allowing continuous assessment of vulnerabilities and by giving engineers and construction professionals better building strategies for future projects.
This circular impact disrupts the linear construction model and paves the way for smarter material usage, increased waste reduction, and improved safety measures.
Mark Carney’s Liberal government has laid out ambitious plans for affordable housing, infrastructure development, labor dynamics, and green building initiatives. If everything goes according to plan, the construction industry could be poised for big change.
Top construction sectors targeted by Mark Carney’s Liberals
Housing
The Liberals have pledged to double the pace of new home construction over the next decade, aiming for nearly 500,000 units annually. This includes building on public lands and providing over $25 billion in financing to innovative prefabricated home builders. First-time homebuyers stand to benefit from the elimination of the Goods and Services Tax (GST) on properties priced at or under one million, potentially saving up to $50,000 on such purchases.
Mark Carney also advocates for densification over urban sprawl, proposing the removal of unit maxima and parking minima and allowing taller buildings near transit lines to increase housing supply.
Infrastructure
The Liberals plan to establish a Major Federal Project Office to expedite decisions on significant infrastructure projects, cutting approval timelines from five years to just two. “We can’t build Canada into an energy superpower if we can’t actually get the shovels into the ground,” Carney said at an ironworkers’ union office in Calgary. “To put it plainly, we need to get going.”
Their platform includes over $130 billion in new spending, with a major focus on Arctic infrastructure ($6.7 billion), energy sovereignty, and high-speed rail. Notable projects include funding for over-the-horizon radar systems, upgrades to military and civilian infrastructure in Nunavut, and $3.9 billion to launch “Alto,” a high-speed rail network linking Toronto to Quebec City. Additionally, a new $5 billion Trade Diversification Corridor Fund aims to support critical infrastructure like the Cedar LNG facility and the Churchill port revival.
Labor
A significant part of Mark Carney’s agenda will focus on workforce development to address labor shortages. Liberals plan to invest heavily in career stability by expanding access to upskilling and training, particularly for workers in mid-career transitions. The proposed benefit would offer up to $15,000 for Canadians working in priority sectors like construction, manufacturing, healthcare, artificial intelligence, and tech. This new benefit builds on a previous pledge to make skilled trades training more accessible by covering up to $8,000 in apprenticeship costs.
Carney’s plan includes direct collaboration with businesses to support employee retention, upskill their existing workforce, and safeguard jobs at risk from global disruptions like tariffs.
Green building
Carney has long believed that tackling climate change is also smart economics. Back in 2020, he described the green transition as “the greatest commercial opportunity of our time” during an event in London, a sentiment that’s shaped much of his post-banking career.
Since leaving his central banking role, Mark Carney has focused on mobilizing private capital to drive climate action. In 2019, he took on the role of U.N. Special Envoy for Climate Action and Finance, and two years later, he helped launch the Glasgow Financial Alliance for Net Zero, a coalition of financial institutions working to accelerate the shift to a net-zero economy.
His climate convictions were first formed during his experience as governor of the Bank of England from 2013 to 2020. “When I became governor of the Bank of England, which oversees the insurance industry, I saw that the number of extreme weather events had tripled and the cost of those events had gone up five times in a quarter century,” he said in a 2021 interview with the United Nations. “These things really concentrated my mind on climate.”
The government’s goal is to decarbonize federal buildings by 2030 and replace the consumer carbon tax with incentive programs that reward green choices, such as adopting electric vehicles and energy-efficient appliances.
If Mark Carney can persuade opposition parties to agree on these initiatives, the Liberal mandate could signal a transformative period for Canada’s construction industry and a sustainable, more inclusive future for its workers.
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Canada’s housing affordability crisis isn’t going away, and the numbers help explain why. Since the 1970s, the population has more than tripled, but the number of new homes we’re building has barely changed. This crisis, a result of various factors like restrictive zoning rules and shortage of labor, has put prices beyond what most can afford.
According to a recent Fraser Institute report, housing starts have essentially flatlined over the past five decades. In 2024, Canada saw 245,367 housing starts, lower than the 271,198 reported in 2021. The peak happened way back in 1976, with 273,203 starts. We’ve got more people than ever, but we’re still building like it’s the ’70s.
Image sourced from Shutterstock
It’s not hard to see the fallout. Rents and home prices are through the roof, especially in cities like Toronto and Vancouver. The squeeze on supply makes it tough for almost everyone, but especially for first-time buyers and lower-income families just trying to get a literal foot in the door.
Several factors are getting in the way of building more homes. Zoning rules that limit density, slow municipal approval processes, and a lack of available land in urban areas are big barriers. On top of that, construction costs are rising, and skilled labor is in short supply, making it even harder to catch up.
Can the government fix Canada’s housing affordability?
Experts say there’s no silver bullet to fix Canada’s housing affordability. It’s going to take a mix of changes, including faster permitting, zoning reform to allow denser developments, and more investment in affordable housing. There’s also a push to encourage more rental builds and to rein in speculative buying, which can drive prices even higher.
The federal government is trying to move the needle in Canada’s housing affordability but has yet to solve the problem. In September 2024, Finance Minister Chrystia Freeland rolled out updates to mortgage rules. That included bumping the cap on insured mortgages from C$1 million to C$1.5 million and extending mortgage terms to 30 years for first-time buyers purchasing new builds. These measures will “incentivize more new housing construction and tackle the housing shortage,” said Freeland in a previous statement.
Still, not everyone’s convinced this will be enough. Tackling Canada’s housing crisis requires all hands on deck: federal, provincial, municipal, private sector, and community organizations working together. Without that kind of coordination, we’re not likely to see lasting change.
Canada’s population isn’t slowing down, and if our housing supply doesn’t keep pace, affordability will only get worse. We’ve been building too little for too long. It’s time for a serious look at how we plan, finance, and approve new homes.
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Construction materials costs have risen three months in a row up until April—January (+1.4%), February (+0.6%), March (+0.5%), and April (–0.1%). This is according to an analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index by Associated Builders and Contractors (ABC). The hike stems from tariff uncertainties clouding purchasing and pricing strategies, causing pressure to ramp for builders and prospective homeowners alike. This pressure has eased recently although largely stemming from driven by energy cost declines. Tariff-sensitive materials like steel (+5.9%) and copper wire (+5.0%) remained sharply up.
The notices for the price hikes started popping up in March, even prior to the new tariffs taking effect. Construction materials costs for residential and non-residential building projects are now up a total of 0.8% from this time last year, and market volatility makes it difficult to predict when the rise will stagnate. As tariff and reciprocal tariff plans continue to turn on a dime, construction suppliers are forced to inaccurately predict the market.
Across the industry, budgeting and planning for projects is becoming increasingly complex, according to economists. Many businesses are attempting to lock in pricing early with accelerated procurement, and proactivity is the name of the game to protect businesses’ bottom line. Project leads, construction executives, and estimators are feeling the squeeze as each month brings a new brace of additional price hikes.
Flat steel square pipes used in construction and industrial projects. Photo via Shutterstock.
“Construction input prices increased at a rapid pace for the third consecutive month in March and have now risen at a 9.7% annualized rate through the first quarter of 2025. The emerging effects of tariffs are glaring in the March data release, with iron and steel, steel mill products and copper wire and cable prices all rising more than 5% for the month,” says ABC Chief Economist Anirban Basu.
According to ABC, rising construction material costs and ongoing market uncertainty have already caused more delays and cancellations. In April, about 22 percent of contractors said their projects were affected, which was up from 18 percent in March. While overall input prices dropped slightly in April, the cost of important materials like steel and copper continued to rise. Steel prices went up by 5.9 percent, and copper wire increased by 5 percent.
Many companies had asked the Trump administration to ease up on tariffs. Instead, in early June, Trump raised tariffs on steel and aluminum from 25 percent to 50 percent. He said it was to protect American industry. The United Kingdom was given a temporary exception. But construction leaders say this move could make things worse by increasing construction material costs and putting even more pressure on already delayed or canceled projects.
London’s skyline is set to evolve with the introduction of ‘The Round,’ a striking new development approved for Bankside. This ambitious project comprises three new skyscrapers: a 45-storey office building with approximately 800,000 square feet of sustainable office space and two residential towers of 40 and 22 storeys, respectively. Located at 18 Blackfriars Road, London’s new skyscrapers promise to bring a fresh look to the city’s riverside.
The residential towers are poised to add 433 new homes to the area, with a commendable commitment to affordability—40% of these units are designated as affordable housing. Beyond residential spaces, ‘The Round’ is set to enrich the community with 1,850 square meters of cultural venues at ground level, including a 300-seat auditorium designed to host various events and performances.
The architectural vision behind ‘The Round’ comes from the renowned firm Foster + Partners, which is celebrated for iconic designs such as The Gherkin and the Millennium Bridge. Their involvement ensures the development will be visually captivating and thoughtfully integrated into London’s urban fabric.
Each skyscraper is designed to be entirely electric and achieve net-zero carbon emissions during operation. This is facilitated mainly by ground-source heat pumps, which are expected to meet 95% of the site’s heating requirements. The development of London’s new skyscrapers also comes green spaces that benefit residents and the environment. The development aims to plant approximately 70 new trees within the green spaces, making sure that sustainability remains at the heart of this project.
What sets ‘The Round’ apart is its innovative approach to design, guided by a carefully crafted ‘wellbeing matrix’ that focuses on six key pillars: environment, movement, mindset, social connection, nutrition, and recovery. Internally, these pillars promote well-being through gardens, therapy rooms, napping pods, and fitness facilities. These amenities reflect a holistic approach to urban living, prioritizing occupants’ mental and physical health.
“We have designed a healthy mixed-use development that plugs into – and significantly enhances – the existing urban fabric,” said Nigel Dancey, head of studio at Foster + Partners. “Our proposal aspires to define the office of the future, with flexible floorplates for longevity and cascading green terraces, which bring a social dimension to the workplace.”
Construction is set to start later this year, with completion aimed for 2030.
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