These numbers are expected to further favour mass timber as time goes on. “As more and more [developers] take it up, there will be more supply,” Vic Gupta predicted, and this would mean “levelling out of pricing and more predictability of pricing.” Looking further into the future, the pilot program also examines the typology for a taller building made of mass timber, modelled on
150 Queens Wharf.
The next steps include advancing the rezoning for the subject site, as well as reporting on the business case in the first quarter of 2024. From there, the plan is to have an opportunity to advance a market offering for the building.
With mounting pressure to bring more residential units to market, and conventional construction costs still high even in this period of slow construction, Vic Gupta believes that the future is very bright for this type of build. The technology's environmental impacts, vastly reduced construction time, and ability to put more people into more homes are the compelling arguments put forth in the pilot program.
