AGP Executive Report
Last update: 12 hours agoB.C. Housing Push: Ottawa and B.C. will spend up to $3.2B to cut homebuilding fees by reducing development charges and to help clear unsold condos by converting thousands of vacant units into more affordable homes, as weak investor demand leaves product sitting on the market. Vancouver Condo Supply: CMHC says unabsorbed condos in the Metro Vancouver area hit record levels, with 4,376 completed and unabsorbed units in May—up sharply year over year—adding pressure to the condo market. Affordability Watch (Edmonton): A new report flags Edmonton as an outlier where buying is getting tougher, even as some housing becomes more affordable elsewhere. Construction Costs (BHP/Jansen): BHP warns its Canadian potash project Jansen cost estimates have jumped, with Stage 2 now expected to cost US$6.9B, triggering share pressure and renewed scrutiny of major project budgets. Community Housing Openings: Chilliwack’s long-delayed $50.6M supportive-housing and shelter facility finally opens, while Prescott moves a former school toward a wellness centre plus housing. Safety & Standards: Canada’s construction safety council moves to require Type 2 hard hats with integrated chin straps across member sites starting July 1.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.