Vancouver Island has experienced a great amount of success, however, the pandemic has caused some uncertainty as there are major supply concerns and labour shortages.
Rory Kulmala, CEO of the Vancouver Island Construction Association, says that building permits for commercial, multi-residential and single-family homes have climbed year-over-year, with the the hottest sector being multi-residential and condo and apartment building permits.
The association is expecting a 30 percent increase in permits this year from 2020, says Kulmala. Thus, the timelines of projects have shifted as materials and labour cannot keep up.
The Greater Victoria School District announced its Victoria High School redevelopment is well behind schedule.
“The school will open in September of 2023 instead of September of 2022,” said Jim Soles, manager of Major Capital Projects for SD61. “Trades cannot guarantee tight schedules because of a shortage of workers and the supply chain is causing problems,” said Soles.
Kulmala of the the Vancouver Island Construction Association stated that the work will not stop, but getting things done will likely take longer and hit your wallet harder. “I think we have what could be considered a perfect storm.”