Land

With pent-up demand in numerous asset classes, the development sector is emerging from the COVID-19 crisis in relatively good shape. Current and projected construction starts provide insight into the effects of the pandemic.

As land values climb and structures wear out, rather than simply selling their property and bidding goodbye to their buildings and land forever, more and more institutional administrators and boards would like to determine whether a redevelopment partnership may be possible to safeguard their future.

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Reductions in on-site labour, temporary construction shutdowns, and new site working protocols due to the COVID-19 pandemic, will cause the real estate and construction industry to feel the effect of this virus for months, and possibly years to come. The following identifies some of the risks, and provide some guidance on key strategies that owners and developers can follow going forward.

Answers to help developers safely navigate the current and potential impacts of the coronavirus pandemic on active construction projects.

Obligations and opportunities presented by Ontario’s new Construction Act

Practical construction contract and schedule advice related to COVID-19 for professionals in commercial real estate, ICI and P3 infrastructure.

What are the potential short, medium and long-term construction cost outcomes of the COVID-19 pandemic

Rising land values and construction costs in the real estate market over the past several years are raising risks for developers, lenders and equity investors. This precarious situation requires a new approach for understanding and managing development risk – an approach with pro formas as the focus.

There’s no need to be to be a real estate expert to see that social distancing measures and the shutdown of nonessential businesses represent a hard blow to shopping centre owners.

A new era of project managers is needed to adopt a more integrated approach and to address three key risks: scheduling, costs and claims.

Modular construction is something that forward-thinking governments, investors, manufacturers, developers and builders are looking at, but it is important that it be tempered with a clear understanding of advantages versus constraints, and a proper assessment of opportunities and how to mitigate the risk.