Companies that were poised for online retail have been the big winners of the COVID-19 pandemic, with a large part of the population now staying at home as much as possible.
Those companies that are able to stockpile more product have been able to ship it, and those that haven’t had the warehouse space are looking to fix that problem.
Mitchell Blaine is an industrial broker with CBRE’s Waterloo Region office and the Sr. Vice President of the company.
“Trends that were there before are really becoming pronounced, either downward or upward,” said Blaine in an interview. “Going into the crisis, you saw a real acceleration of online buying and consumer behaviour. Everything you buy on amazon, or even if it’s groceries online, they have to come from somewhere.”
Blaine said that also includes stockpiling personal protective equipment, creating an additional demand for industrial real estate.
“What is anticipated is, those consumers that had not adopted online buying of groceries and/or goods are really going to start picking it up because they have to through the crisis, and will likely continue to post-crisis as well.”
Having product in-stock isn’t the only advantage of having industrial real estate, according to Blaine. He said that companies like Inksmith and Toyota are the kinds of companies who have this resource, and will be able to get back to work sooner as a result.
As companies have adjusted to increased demand for online shopping, they’re also looking to decrease shipping time.
“We have not had the supply chains established for ‘just-in-time’ shipping to people’s houses, say, e-commerce,” explained Blaine. “So out of this you’re now seeing a ramp-up of facilities from online and warehouse distribution players, even during the pandemic, to be able to service what’s in Kitchener-Waterloo, you know, a 600,000 population, it’s a fairly significant centre.”
It’s not just an acceleration of the warehouse industry and industrial real estate, but also of worker safety.
“That is, by far, the most consistent comment we hear from the operators of these distribution centres is making sure the employees are safe, first and foremost. Then the ability to service their customer base,” said Blaine.
He also explained that companies like Shopify, which has an office in Waterloo, can help get small businesses online, creating diversity in the market and giving the ability to buy locally. As companies like Shopify see success, it will create an even greater demand for warehousing.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.
Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.
The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.
Wednesday was the last day for advance voting, which started on Oct. 10.
More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.
Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.
An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.
This report by The Canadian Press was first published Oct. 17, 2024.
