Ontario Construction News staff writer
In a recurring trend, Toronto has outpaced 13 other prominent North American markets combined in the number of operational tower cranes.
The latest report from Rider Levett Bucknall (RLB), the international property and construction consultancy firm, reveals that Toronto boasts 240 active tower cranes. This figure significantly eclipses the total count of 226 found in the 13 key cities across Canada and the United States, as disclosed in the North American Crane Index for the third quarter of 2023.
The recent survey indicates a 10% reduction in crane numbers, which equates to 51 fewer cranes compared to the first quarter of the year. RLB attributes this decrease to several projects nearing completion and a slowdown in private-sector construction activities caused by rising interest rates.
Out of the 14 cities surveyed, six witnessed a decline of over 20%, two showed an increase, and six remained stable. Toronto, notably, was among the two cities reporting an increase in crane counts for the third quarter, adding two more tower cranes compared to six months ago.
Toronto’s residential sector continues to display consistent growth, with an additional seven cranes added in the current quarter, while the hospitality sector saw a decrease of four cranes. RLB notes that despite the consistent crane counts, the city has seen a flurry of construction activity, with over 50 new projects introducing cranes in the past six months.
Of these new projects in Toronto, 41 are residential, seven are commercial, and three fall under the institutional category. The breakdown of crane usage in Toronto includes 146 on residential projects, 35 on commercial ventures, 31 on mixed-use projects, and seven allocated to public or civic undertakings.
Calgary, the other Canadian city featured in RLB’s report, experienced a one-crane decrease in the third quarter. This occurred despite a 13% increase in the total value of construction work in the first half of 2023 compared to the previous year. Calgary is also witnessing substantial growth in housing projects, with five new downtown office-to-residential conversions receiving funding, and nearly half of new housing located in multi-unit buildings.
While the overall trend in North America points to a reduction in crane numbers, RLB predicts crane numbers will remain steady for the remainder of 2023.