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SL Green Realty Corp. has posted robust quarterly results, driven by high demand for Park Avenue office spaces. Strong leasing activity along the prestigious corridor, where rents exceed $140 per square foot, contributed to these impressive results. SL Green leased a total of 421,000 square feet in the quarter ending June 30, with a notable boost from 367,000 square feet leased in the final weeks. Key leases included: Ares Management Corporation: 132,000 additional square feet at 245 Park Ave. Elliot Management Corp: 150,000 square feet at 280 Park Ave. With 90% of its 30 million square-foot portfolio in Manhattan, SL Green’s occupancy rate in the borough rose to 86.7% from 85.9% in the first quarter. The company reported $2.05 a share in second-quarter funds from operations, up from $1.43 the previous year, and raised its 2024 FFO forecast to as much as $7.75 a share. Read more about SL Green’s performance and the positive trends in the Park Avenue office market: https://lnkd.in/eGeTGRBE Raymond Benemerito, SL Green Realty Corp. #SLGreen #ParkAvenue #CommercialRealEstate #NYC #OfficeMarket #Leasing

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In housing market news, multi-unit residential building construction decreased $157 million (-1.2%) to $13.4 billion in February, marking the second consecutive monthly decline. The decline in February was primarily driven by Ontario, which saw a decrease of $153 million to $5.2 billion. However, investment in detached single-family homes increased 1.3% to $6.7 billion. Find more insights from StatsCan here: https://ow.ly/GoXH50RFPsZ #housinginvestment #residentialconstruction #housingnews #newconstruction #canadianhousingmarket

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📈 Canadian Construction Industry Outlook: 2025-2028 🏗️ The Canadian construction industry is projected to grow 2% annually from 2025 to 2028, with significant growth expected in residential housing. This expansion is driven by the government’s commitment to addressing the housing deficit by constructing new affordable homes by 2030. This growth presents exciting opportunities for innovation and development within the sector, as we work towards creating more accessible and sustainable housing solutions. 🔗 Dive into the details of this projection here: https://bit.ly/3XqYTw1 #ConstructionGrowth #ResidentialHousing #AffordableHousing #IndustryTrends #PGCM

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TIP 3: Involve designers from the initial planning stages of the home improvement process and review joint blueprints. Merging construction practicalities with design concepts early on ensures smooth project execution. #designandbuild #Torontocontractors #homebuilding

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Toronto Real Estate Investors are Eyeing Calgary Cost Comparison: Toronto Pre-Construction Condos: A one-bedroom unit costs about $800,000. Calgary Pre-Construction Condos: A two-bedroom, almost 1,000 ft² unit, is priced around $550,000 in one of our projects. Revenue Potential: Toronto Rental Revenue: The one-bedroom unit generates approximately $26,000 in long-term rental income. Calgary Rental Guarantee: Projects in Calgary offer a rental guarantee of $36,000, despite the lower purchase price. Lower Closing Costs: Toronto: Expect 5-6% in closing costs on pre-construction units. Calgary: Virtually no closing costs, only about $2,000 in legal fees. These factors make Calgary a compelling option for Toronto investors seeking better returns and lower costs. Interested in Calgary real estate? Reach out to us for details on available projects or DM us for our latest webinar on Calgary Investment Properties. #realestate #gtarealtor #torontorealestate #dreamhome #condo #house #lease #toronto #resale #investment #preconstruction #assignment #resale

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Ontario new home builders are calling for action as #housing starts are expected to wane over the next few years. A new comprehensive report by RESCON warns this will make the supply shortage even worse, the REMI Network reports at https://lnkd.in/gi3ti_32. “With a critical need for new housing, it is imperative that all levels of government take immediate action to boost #construction by lowering the taxes, fees and levies and reducing the red tape and bureaucracy which slows the industry and adds to the cost of housing,” RESCON president Richard Lyall explained in the article. “To spur the market, we need conditions that allow builders to build houses that people can afford. Otherwise, we may be in dire straits as new home construction stalls and unemployment in the industry rises.” #housingsupplycrisis #housingmarket #development #cdnpoli #onpoli #topoli Erin Ruddy Sean Foley Will Dunning

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Is investing in pre-construction real estate a good opportunity in today's market? How can more investments in pre-con actually help solve the housing crisis in the GTA? Listen as Ashi Mathur, President, the Baz Group, and Erin Millar, CSMO, Marlin Spring Developments discus the advantages of buying pre-con real estate in today’s market and how more investments in pre-construction real estate can affect change in the housing environment. #bazgroup #marlinspring #housingcrisis #torontorealestate #construction

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The residential construction industry in Ontario is facing an uphill battle in meeting its ambitious housing targets for 2031. A multitude of challenges, from high interest rates to bureaucratic red tape, have converged to create a daunting landscape for new homebuilders. With only a fraction of the required pace currently being achieved, the gap between existing output and the necessary level of construction is widening. Mike Moffatt, senior director at the Smart Prosperity Institute, voices concerns over the lack of alignment among governmental bodies, hindering progress towards housing targets. The need for a unified vision and bold action from all levels of government is emphasized, highlighting the urgency of addressing policy disagreements and streamlining processes. Rapid population growth exacerbates the situation, placing further strain on an already struggling system. Rising development charges and land costs outpacing income growth have rendered homeownership increasingly unattainable for many families. The fluctuating market conditions, coupled with tightening lending conditions, add another layer of complexity to the issue. Eddie Sheppard of Abacus Data underscores the prevailing pessimism regarding housing affordability and availability among Canadians, reflecting widespread concerns about the future of the housing market. The lagging performance of Toronto compared to other major cities, as highlighted by the CMHC's Housing Supply Report, underscores the severity of the situation. BuildForce Canada's outlook report paints a sobering picture of the sector's immediate future, projecting a rough period ahead before any potential recovery. Calls for greater cooperation between governments and industry stakeholders echo throughout the discourse, emphasizing the imperative of collective action to address the housing crisis. The Residential Construction Council of Ontario advocates for intensified efforts from all levels of government to tackle the root causes of the housing problem. Richard Lyall, the organization's president, highlights the detrimental impact of excessive regulations and fees on housing supply, particularly for the middle class. The urgency of the situation is underscored by his assertion that action is needed immediately. In light of these challenges, the question for residential developers becomes: How can the industry navigate this complex landscape and work collaboratively with governments to overcome barriers to housing construction? #OntarioHousingCrisis #HousingTargets #CollaborativeAction #GovernmentPolicy #AffordableHousing

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Ontario's Spring Budget revealed promising signs for new home construction, with 88,000 housing starts projected in 2024. However, the pressure from the Government of Ontario to accelerate housing development continues. While progress is evident, it's clear that we still have a long way to go to meet the ambitious targets set for 2031. Let's keep pushing forward! Together we can address the housing needs of our communities and create sustainable solutions for the future. 🏗️ #HousingDevelopment #OntarioBudget #PricaGlobalEnterprises #WaterlooBuilds

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How to Start a Commercial General Contractor Business Starting a Commercial General Contractor Business – Introduction Starting a commercial general contractor business can be a rewarding venture. As the construction industry continues to grow, there is a constant demand for skilled contractors to manage and oversee standard to large-scale projects. However, starting a business in this field requires attentive planning, industry knowledge, and a solid market understanding. In this article, we will provide a comprehensive guide on how to start a commercial general contractor business in Canada, covering various aspects such as planning, business models, contracts, pros and cons, industry trends, challenges, and additional topics. Planning Your Commercial General Contractor Business Before diving into the world of commercial general contracting, it is crucial to have a well-thought-out plan in place. Here are some critical steps to consider: Define your business goals and objectives: Determine what you want to achieve with your commercial general contractor business. Are you aiming to specialize in a particular type of construction project? Do you have a target market in mind? Clearly defining your goals will help guide your business decisions. Conduct market research: Analyze the construction industry in Canada, including the current industry and market trends, competition, and potential clients. Identify the demand for commercial general contractors in your target area and assess the viability of your business idea. Develop a business and marketing plan: Create a comprehensive business plan that outlines your company’s structure, services, target market, marketing strategies, and financial projections. This plan will serve as a roadmap for your business and will be essential when seeking financing or investors. - Choosing the Right Business Model - Selecting a suitable business model is crucial for the success of your commercial general contractor business… Refer to the full article on types and models, including the startup guide. Understanding Contracts and Legal Considerations Contracts are an integral part of the commercial general contracting business. It is essential to have a solid understanding of the legal considerations and requirements… Refer to the full article on understanding contracts, risk mitigation, essential legal considerations, and a checklist guide. Pros and Cons of Starting a Commercial General Contractor Business Starting a commercial general contractor business has its advantages and disadvantages. Here are some key pros and cons to consider: Pros: Lucrative potential: The construction industry in Canada is booming, providing ample opportunities for growth and profitability. Variety of projects: As a commercial general contractor, you will have the chance to work on a wide range of projects, from office buildings to retail spaces... https://lnkd.in/gf6jcNtG

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Discover essential steps for purchasing a preconstruction property in the Greater Toronto Area, even amidst high interest rates. Learn about market research, budgeting, location selection, and more to make a smart investment in the GTA preconstruction market. Purchasing a preconstruction property in the GTA can be a rewarding investment despite high-interest rates. By following these steps, you can navigate the process with confidence and secure a valuable asset for your future. https://lnkd.in/gF636yHM

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Considering a pre-construction condo? Weigh the pros and cons before making your decision. 🏗️🏢 And head over to Buy.ca to discover the most exciting preconstruction projects, filtered based on their project status. #PreConstruction #RealEstateTips #GTARealEstate

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Canada’s building construction investment rises 2.1% in September 2024. READ MORE » https://lnkd.in/ge_NAMzZ The non-residential sector edged up 0.3% to $6.4 billion, while the #residential sector increased 2.9% to $15.2 billion. #industrial #commercial #institutional

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In May 2024, Saskatoon CMA saw 108 new housing starts, which is a 26% decrease from May 2023. Within the housing start data, 86 starts were for new single family homes, which is a 39% increase from May 2023. Permits issued in May 2024 in Saskatoon and region have increased by 36% year-over-year, with single family permits increasing by 22%, multi-family permits increasing by 74%, and renovation permits decreasing by only 6%. Nicole Burgess, CEO of the Saskatoon & Region Home Builders’ Association, commented on the trends: “These numbers are very encouraging for Saskatoon and area’s housing market. The increase in new single-family housing starts and permits signals resilience for housing in our region. The substantial rise in multi-family permits is particularly noteworthy, as this trend reflects the residential construction sector's proactive response to meet the increasing housing needs and positions Saskatoon for significant growth and development.” #Saskatoon #YXE #SaskatoonHousing #Affordability #HousingAffordability #Homeownership #Permits #BuildingPermits #SingleFamily #MultiFamily #NewHousingStarts #Housing #Home #Builder #Renovator

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