Toronto Has The Most Cranes in North America - Which Means the Most Development
Tuesday Sep 25th, 2018
It may not be a glorious sight, but the sight shows a bright future: Right now, Toronto has the most construction cranes in North America - which indicates massive development.
Toronto has an estimated 97 active construction cranes as of July 2018, according to the recent Rider Levett Bucknall Index (RLB Crane Index).
This means the city has more than double the number of cranes of Chicago, four times as many as San Francisco and about five times as many cranes as New York City. In fact, Seattle, which places second for the number of cranes, sits far behind Toronto at 65.
From Toronto's 97 cranes, 85 are for the construction of condos, residential buildings and/or mixed-use properties. The remaining cranes are for commercial developments.
"For the third consecutive reporting period, Toronto has the highest number of cranes of all the cities surveyed in this edition of the Index: 97, an increase over the last count of 88," reports RLB in its findings.
"The market continues to be led by the residential sector, which makes up over 86% of the total crane count."
The report goes on, "Looking ahead, Toronto is expected to see a boost in spending on infrastructure, which is anticipated to trigger an increase in construction activity.
"More than 400 high-rise projects have been proposed, adding to the city's dynamic skyline."
Ultimately, this Index shows how quickly cities are growing. So, if looking at construction development, Toronto is the fastest growing city in North America.
Nonetheless, while the city continues to grow its one-bedroom condo count, its affordable housing count continues to drop.
So while Toronto may be supplying condos, it's not adequately supplying the demand for affordable housing - yet.
Counting Cranes: Total Numbers
Los Angeles: 36
San Francisco: 26
New York City: 20
Source: Rider Levett Bucknall