'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
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their “extremely dangerous” experience on board a sinking tour boat in the Dominican Republic last week.
Half of Canadians have negative opinion of latest Liberal budget: poll
A new poll suggests the Liberals have not won over voters with their latest budget, though there is broad support for their plan to build millions of homes.
opinion Why you should protect your investments by naming a trusted contact person
Appointing a trusted person to help with financial obligations can give you peace of mind. In his personal finance column for CTVNews.ca, Christopher Liew outlines the key benefits of naming a confidant to take over your financial responsibilities, if the need ever arises.
Teacher shortages see some Ontario high school students awarded perfect grades on midterm exams
Students at a high school in York Region have been awarded perfect marks on their midterm exams in three subjects – not because of their academic performances however, but because they had no teacher.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Ottawa injects another $36M into vaccine injury compensation fund
The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020.
Photographer alleges he was forced to watch Megan Thee Stallion have sex and was unfairly fired
A photographer who worked for Megan Thee Stallion said in a lawsuit filed Tuesday that he was forced to watch her have sex, was unfairly fired soon after and was abused as her employee.
An Ontario senior thought he called Geek Squad for help with his printer. Instead, he got scammed out of $25,000
An Ontario senior’s attempt to get technical help online led him into a spoofing scam where he lost $25,000. Now, he’s sharing his story to warn others.
Her fiance has been in prison for 49 years. She's trying to free him before it’s too late
She was lying in bed on a Thursday morning, thinking about the man she loved, hoping to win his freedom before time ran out.