Espace Montmorency announces milestones
The partners behind the $450-million mixed–use Espace Montmorency project in Laval, Que. today announced several milestones. Montoni, Selection Group and the Fonds immobilier de solidarite FTQ revealed that five retailers, Ange Boulangerie, Poulet Rouge, French Takos, Benny&Co and Kababgy, have signed contracts and that construction on the residential component is on target to permit the first residents to move into their new apartments in the next two months. A new rental office for the residential units was also inaugurated.
Building materials costs impact CPI
Today’s Consumer Price Index report from Statistics Canada for March indicates that shelter prices rose 2.4 per cent on a year-over-year basis in March. As costs for building materials and demand for single-family homes continued to grow, the homeowners’ replacement cost index, linked to new home prices, increased 7.9 per cent year over year. The rise in the homeowners’ replacement cost index, which comprises about five per cent of the CPI basket weight, was partially offset by a drop in the mortgage interest cost index. The mortgage interest cost index fell 6.3 per cent year over year.
McCarthy Tetrault looks at essential construction
Lexology today reports that McCarthy Tetrault has published an analysis of the new list of essential construction activities introduced by the Ontario government April 16. The firm notes the list expands the definition of previously permitted construction activities published in January.
ULI Toronto hosts Earth Day event
The Toronto chapter of the Urban Land Institute will host an Earth Day webinar tomorrow beginning at 12 p.m. The event is billed as It’s All One Planet: A Holistic Approach to Sustainability Post-COVID-19.