ICI investment declines nationally in October
Statistics Canada reported this morning that total investment in building construction in Canada edged down 0.4 per cent to $15.2 billion in October, following a 1.5 per cent decrease in September. Investment in the non-residential sector fell for the fourth consecutive month in October, down 3.2 per cent to $4.4 billion in October, remaining below pre-COVID-19 levels.
Investment in commercial building construction accounted for the largest decline of the three components for the month, down 4.7 per cent to $2.5 billion. All provinces and territories were down, with the largest drop in Quebec (minus 13.4 per cent to $443 million). Over the first 10 months of 2020, Quebec has yet to issue a permit over $100 million for a commercial project.
A decline of 1.7 per cent was reported in industrial building construction investment in October. Institutional building construction investment reported a slight decline of 0.8 per cent, with the largest decreases seen in Quebec (minus 1.9 per cent), followed by Ontario (minus 1.2 per cent).
MCAC annual meeting set for Wednesday
Members of the Mechanical Contractors Association of Canada have been notified that their 2020 annual general meeting has been scheduled for Wednesday. The event will be held online starting at noon Eastern time, running to 1:30 p.m.
Vancouver makes interim upgrades to Beach Ave
The City of Vancouver is making interim upgrades to Beach Ave. in the city’s downtown core to keep exercise and access options open for Vancouver residents. The busy avenue was repurposed in April to provide walking and biking space while staying physically distanced during the COVID-19 pandemic. A survey launched in September about the current configuration of Beach Ave. and the seawall path. The upgrades include improved pedestrian crossings at key locations, restoration of eastbound travel for vehicles and transit between Denman Street and Jervis Street following completion of other project elements and replacement of traffic cones with concrete barriers.
City of Calgary announces $152.8 million for recovery infrastructure
The City of Calgary has announced new infrastructure investments totalling $152.8 million for 2020-2021 through funding from the Province of Alberta’s $500 million Municipal Stimulus Program. The investments include affordable housing, critical road and fibre infrastructure renewal, cultural building envelope upgrades to the Glenbow Museum, Jack Singer Concert Hall/Public Building and the Northwest Travellers Building, facility upgrades to TELUS Spark Science Centre, Heritage Park, Calgary Zoo, Fort Calgary, and others, park system upgrades, stormwater community drainage Improvements and transit infrastructure.
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