When it comes to housing construction, the best intentions of regulators aren't always enough to sway the market.
"Few developers are taking advantage of new Ontario rules that allow for taller wood-frame buildings," reports Luke Simcoe. "The reason? They can’t find the right wood."
A new development called Heartwood the Beach in Toronto will be the first project to take advantage of regulations implemented in January 2015 that "allow for six-storey wood buildings instead of the previous four storeys." The rules were intended to introduce new forms to the city's skyline and lower the cost of building mid-rise residential stock.
The specialty lumber required to build at these new heights, however, has made it difficult for developers to realize those cost savings.
FULL STORY: Wood construction still lagging in Toronto, despite rule change
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