(Source: The Toronto Star)
With fewer office towers planned, non-residential construction tumbles 45 per cent in April
Narci Mastroianni doesn’t have to look at the monthly Canadian building permit numbers to know how his family business is faring. As a part owner of one of the Greater Toronto Area’s largest building supply companies, he can see it in the foot traffic at his Oshawa headquarters.
“Right now, every builder has come back for concessions, or is coming back for some kind of reduction. We’re all doing a lot more for less,” said Mastroianni, whose father started Don & Sons Building Supplies, a 30-year-old company that supplies brick and drywall and other materials to commercial and residential developers.
Statistics Canada reported yesterday the value of Canadian building permits fell 5.4 per cent in April, mainly because of a drop in non-residential building activity.
Read the full article by Tony wong “Commercial building plunges in GTA” in the Toronto Star (June 5, 2009).