In this edition:
- Paul Dubkowski takes helm at Andrew Peller Limited
- Canadian housing activity perks up while value of issued building permits plummets
- Niagara Falls taking second crack at federal housing funding
- Pelham Town Council okays controversial development
- Neptunus Yachts celebrates 35 years in business
- Cogeco reports restructuring decreased profits to $76.3M in Q3 2024 fiscal report
- ‘Buyers idle on the sidelines’: Turns out interest-rate cut didn’t entice homebuyers, says Royal LePage report
- Government of Canada launches Employment Strategy for Canadians with Disabilities
- Focus on Finance & Economy
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Photo credit: Andrew Peller Limited
Paul Dubkowski takes helm at Andrew Peller Limited
Paul Dubkowski has been appointed Chief Executive Officer and has been elected to the Board of Directors of Andrew Peller Limited (APL), effective immediately. Mr. Dubkowski joined APL in 2022 as Chief Financial Officer and Executive Vice President IT and has more than 20 years of experience in the hospitality and retail sectors.
In addition, Patrick O’Brien has been appointed President & Chief Commercial Officer, assuming expanded responsibilities for Marketing and all sales channels. Mr. O’Brien, who joined APL in 2019, is an internationally experienced sales and marketing executive respected for his strategic approach and focus on building winning teams.
Photo credit: Tinnakorn / Adobe Stock
Canadian housing activity perks up while value of issued building permits plummets
Activity in Canada’s housing market saw some early signs of renewed life in June 2024, following the Bank of Canada’s interest rate cut at the beginning of the month. Home sales activity recorded over Canadian MLS® Systems climbed 3.7% between May and June 2024.
Meanwhile, Statistics Canada reports, the total value of issued building permits in Ontario was down 7.9% ($261.2M) in May, as part of a national pattern that saw the total value of building permits fall to $11.7B, down 12.2% from a record high of $13.4B in April.
Photo credit: ungvar / Adobe Stock
Niagara Falls taking second crack at federal housing funding
City officials “remain confident” Niagara Falls can be a successful applicant in the next round of federal housing funding.
The municipality — in its first application — failed to secure $45.2 million in federal Housing Accelerator Fund (HAF) monies to aid in the city’s goal of having 1,668 units constructed in three years, and 9,660 in a decade.
Photo credit: Town of Pelham
Pelham Town Council okays controversial development
Development and infrastructure dominated a relatively short Pelham Town Council meeting Wednesday, July 10, with council voting to move ahead with a controversial plan to build six houses in the Canboro Road/Daleview Drive area of Fonthill.
The proposal, which would see the demolition of an existing fourplex apartment building, has been a topic of concern from some nearby residents, with Mayor Marvin Junkin joining that chorus.
Photo credit: Neptunus Yachts
Neptunus Yachts celebrates 35 years in business
Neptunus Yachts is celebrating its 35th anniversary as part of Niagara’s marine industry. Founded in 1989, the yacht manufacturer began with a small group of about 10 to 12 people. Over the years, as the company grew, the company had about 120 employees who built about a dozen boats each year.
But about 10 years ago, Neptunus made a conscious decision to get back to its beginnings. It kept staff at about 40 to 45 people, building one to two high-quality yachts per year.
Photo credit: Cogeco Communications Inc.
Cogeco reports restructuring decreased profits to $76.3M in Q3 2024 fiscal report
Today, Cogeco Communications Inc. (TSX: CCA) announced its financial results for the third quarter ended May 31, 2024.
Profit for the period amounted to $76.3 million, a decrease of 24.8%, of which $70.4 million was attributable to owners of the Corporation, reflecting restructuring costs recognized during the quarter. Excluding the impact of restructuring and certain other costs, adjusted profit attributable to owners of the Corporation remained stable.
Photo credit: Jaruwan photo / Adobe Stock
‘Buyers idle on the sidelines’: Turns out interest-rate cut didn’t entice homebuyers, says Royal LePage report
Looks like the recent interest rate cuts didn’t send home buyers rushing into the real estate market, a recent report from Royal LePage states.
“This spring, with bank rate cuts highly anticipated, we saw some buyers race to get a deal done ahead of an expected spike in demand,” Royal LePage CEO Phil Soper said in a news release. “Yet, when that first cut finally occurred in early June, market response was tepid.”
Photo credit: Dj.092311 / CC BY-SA 4.0
Government of Canada launches Employment Strategy for Canadians with Disabilities
Today, the Minister of Diversity, Inclusion and Persons with Disabilities, the Honourable Kamal Khera, announced the launch of the Employment Strategy for Canadians with Disabilities (the Strategy). The Strategy aims to close the employment gap between persons with disabilities and those without by 2040.
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Focus on Finance & Economy
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Repeatability at scale the key to success for modular construction
So many factors suggest a promising future for modular home construction in North America.
There’s an urgent need for affordable housing, a shortage of skilled labour and the potential to optimize building process efficiencies in order to achieve higher profits.
Yet modular solutions in North America lag far behind many other countries.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
