'A perfect storm': Vancouver Island construction industry warns of significant delays and cost overruns
The success of Vancouver Island's construction industry might also be its post-pandemic downfall.
"I think we have what could be considered a perfect storm," said CEO of the Vancouver Island Construction Association, Rory Kulmala.
As the demand for large-scale developments boom, especially on southern Vancouver Island, the industry says major supply concerns and labour shortages will have an impact.
"That is going to reflect in itself much longer schedules and higher costs," Kulmala told CTV Vancouver Island on Tuesday.
The construction association says building permits for commercial, multi-residential and single-family homes have climbed year-over-year for the past half decade.
This year the association expects a 30 per cent increase in permits from 2020, which would represent a record year.
Multi-residential, or condo and apartment building permits, are the hottest sector.
Victoria city staff tell CTV News that the pace of major development applications in 2021 is the highest they have ever seen.
As demand booms, an already stressed sector will no doubt bend under the immense pressure.
This week, the Greater Victoria School District announced its Victoria High School redevelopment is far 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.
Market forces have hit the large-scale seismic upgrade hard, pushing it a year behind its projected completion date.
"Trades cannot guarantee tight schedules because of a shortage of workers and the supply chain is causing problems," said Soles.
What does this all mean for the average Vancouver Islander?
Vancouver Island's Construction Association says work will not stop, but getting things done will likely take longer and hit your wallet harder.
CTVNews.ca Top Stories
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
Documents reveal Ottawa's efforts to get Loblaw, Walmart on board with grocery code
It was evident to the federal government as early as last fall that Loblaw and Walmart might be holdouts to the grocery code of conduct, jeopardizing the project's success.
opinion The special relationship between King Charles and the Princess of Wales
Royal commentator Afua Hagan writes that when King Charles recently admitted Catherine to the Order of the Companions of Honour, it not only made history, but it reinforced the strong bond between the King and his beloved daughter-in-law.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
Improve balance and build core strength with this exercise
When it comes to cardiovascular fitness, you may tend to focus on activities that move you forward, such as walking, running and cycling.
'I just want to be safe': Ukrainian man in Canada faces limbo amid consular freeze
A recent decision to restrict consular services for fighting-aged Ukrainian men has made a Ukrainian man in Canada feel less certain of his next steps — and worried he could be pulled back to the war.
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
$70M Lotto Max winners kept prize a secret from family for 2 months
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.