There’s a lot going on in the world of construction in Alberta. Everything from consumer behavior and the economy to climate and tourism are impacting the industry. While we could delve into market statistics such a thing would only serve our peers. Instead, we use our blog to speak to our clients, to you. We have taken our insight into the local landscape to deliver trends (so to speak) to watch for in 2016. Read further to find out which of the following trends may impact your prospective commercial build in the year ahead.
1. Expansion/Renovation in Spite of the Economy
The economic challenges faced by Alberta may have slowed commercial construction starts by the end of 2015 but this won’t stop commercial business from growing in 2016. Granted, it may not be from entirely new builds. Expect to see this commercial construction growth in the form of expansion and major renovations to existing properties and retail centers.
2. Reduced Construction Labour Costs
Construction employment fell 2.7 per cent in 2015. This will temporarily reduce the cost of construction labour in 2016. The trend is of course connected to the slow down in the energy sector. Thus, with oil prices expected to stabilize towards the end of 2016, commercial enterprises are encouraged to take advantage of the opportunity as soon as possible. With a reduced labour expenditure there is an increased likelihood of completing a commercial build at lower cost than when the industry is in very high demand. Any hesitation that your business may have in building in a slow economy can be washed away when you realize the capital cost benefits of moving forward today.
3. Canadian Dollar Driving Renewed U.S. Commercial Interest
The entire country is talking about the Canadian dollar at the onset of 2016. It may hurt international travel plans but it will bring big commercial business into the province this year. Expect to see renewed interest from U.S. based commercial enterprises that may have been hesitant to enter or expand operations within the Alberta market in the year prior. This is especially true of businesses offering inelastic products and services. If you manage U.S. commercial business interests you will find no better opportunity to build in Alberta than now.
4. Pre-engineered Steel Buildings for Commercial Manufacturing
Commercial businesses will continue considering more efficient and cost effective construction concepts to complete their build. This includes pre-engineered steel building (PESB) for their manufacturing and operations. The great thing is, here at Apple Building Systems, as suppliers of steel buildings manufactured in Canada, we are not experiencing building supply price increases as a result of the strong US dollar. Pre-engineered steel buildings will minimize costs, result in minimal waste (more on this below) and will be completed on-schedule while accommodating future expansion in the years to follow.
5. Continued Push Towards Eco-Friendly Construction
While it has come to the point that eco-friendly can no longer be considered a trend in construction as much as it is a requirement, commercial interests will continue to look to minimize their carbon footprint. Not only are there federal and provincial mandates in place, it is expected of them from consumers. Expect commercial businesses to compete to achieve LEED® certification and attain high LEED® ratings more than ever before in 2016. Our province, and the world, will be a better place for it.
If you have any questions about the above or you’re simply ready to move forward with your first step towards your commercial build we encourage you to contact Apple Building Systems at 403. 340.6777 or here, anytime.