Economy Thread

[jammer139]

How are Ontario municipalities doing with building new housing?


https://www.cbc.ca/news/canada/toronto/ontario-housing-construction-cities-report-card-1.6916180

[jammer139]

New plant coming to Strathroy to make insulated panels.


A Quebec company that manufactures insulated metal panels is expanding to Ontario with a $45-million plant west of London.

Norbec, which also manufactures walk-in coolers and freezers, is building a 14,492-square-metre (156,000-square-feet) plant on nine hectares of industrial land in Strathroy.





https://lfpress.com/business/local-busin...nt-that-will-make-insulated-metal-panels

[Djeffery]

I find it odd in that industrial park in Strathroy that it's been over 10 years since Columbia Sportswear moved to London and their old location next door to the Gemini Sportsplex is still vacant. Relatively modern 100,000 sq ft, with 2 floors of office space, docks and ground level doors, almost backs onto the 402. All the growth that has come to that area and that building still sits. This was one of 2 large buildings Columbia occupied in Strathroy, and their original location on Albert St was immediately occupied after they moved out, and it's an old piece of crap of a building (I think it was a school into the 70's and had multiple warehouse additions over the years since).

[jammer139]

London has a buzz on Information Technology. Coming in 8th with tech talent.



https://www.cbc.ca/news/canada/london/q-...y-hall-has-to-capitalize-on-it-1.6931956

[jammer139]

London's economy expected to grow.


Population growth is expect to stay above 2% per year which means over 8000 new residents each year.



https://lfpress.com/news/local-news/lond...ed-to-ride-out-interest-rate-jolt-report

[jammer139]

Commercial properties being snapped up by Toronto area business. Demand for more buildings is expected to grow.



https://lfpress.com/news/local-news/firm-snaps-up-100m-in-london-st-thomas-commercial-real-estate

[Djeffery]

Originally Posted by jammer139

Commercial properties being snapped up by Toronto area business. Demand for more buildings is expected to grow.



https://lfpress.com/news/local-news/firm-snaps-up-100m-in-london-st-thomas-commercial-real-estate

That sounds like a regurgitated story to me, I thought we already knew and posted about those. Maybe not the St Thomas one. I guess buying a piece of land in St Thomas isn't newsworthy unless they re-report on acquisitions that company made months ago lol.

[jammer139]

For the LFP old news is new news.

Originally Posted by Djeffery

That sounds like a regurgitated story to me, I thought we already knew and posted about those. Maybe not the St Thomas one. I guess buying a piece of land in St Thomas isn't newsworthy unless they re-report on acquisitions that company made months ago lol.

[tyeman200]

Does anyone think our mayor will even use his strong mayor powers to get more housing approved faster?

[CanadianTalk]

Originally Posted by tyeman200

Does anyone think our mayor will even use his strong mayor powers to get more housing approved faster?

I don't think so. As I understand it, the mayor can use his strong mayoral powers to override Council decisions and so far our current Council has approved pretty much every development project this term by a large majority, including ones with lots of NIMBYism and even ones where planning staff recommends a refusal.

[Djeffery]

And even still, I don't think Josh Morgan is ballsy enough to use those powers either.

[haljackey]

Originally Posted by tyeman200

Does anyone think our mayor will even use his strong mayor powers to get more housing approved faster?

Would it really make a difference? You can approve as much housing as you want but we have a shortage of skilled trades in the labour force. There simply are not enough builders or suppliers to increase the rate of construction much. The skilled trades labour force is also expected to shrink as more boomers retire... not sure how specifically it would affect those involved with new housing construction sector of the trades, but keep that in mind.

Even if London said the entire city limit is open to build anything anywhere, I would not expect the rate of construction to increase much at present.

[jammer139]

White Oaks Mall purchase by Westdel


1105 Wellington Road
type Shopping mall (White Oaks Mall)
price $140,939,000
seller White Oaks Mall Holdings Ltd.
buyer White Oaks Shopping Centre Inc.

[jammer139]

The challenges of home building in today's climate.


https://lfpress.com/news/local-news/builders-london-challenged-to-hit-home-building-target

[jammer139]

Small businesses adding to local economy.


https://lfpress.com/business/local-business/big-gains-and-little-ones-powering-londons-economy

[jammer139]

The growth in office space hotel business. This article speaks about this growing trend and the move away from rigid long term leases for office space. The commercial office space landscape has changed and will never look the same.



https://www.cbc.ca/news/canada/london/wo...ion-in-commercial-office-space-1.6979636

[Djeffery]

The new Giant Tiger in the former JYSK location east of Masonville Place is set to open this Saturday, Oct 14. Expect this already nightmarish parking lot to be an extra level of hell this weekend.

[jammer139]

One of the other factors that contribute to a lack of housing supply is short term rentals by investor owners. The push back on these is now starting to happen in many places around the world and also nearby.


https://lfpress.com/news/local-news/limi...tals-in-cottage-communities-making-waves

[jammer139]

Good to see a new business offering security shutters in the London area. Downtown store front businesses really need to install these now to avoid massive insurance increases.


https://londonincmagazine.ca/2023/09/14/secure-sunrise-rollups/

[jammer139]

First of the 360 vehicles are delivered.



https://www.ctvnews.ca/canada/canada-rec...ed-vehicles-made-in-london-ont-1.6609530