Construction cranes at the Well, a mixed-use development in Toronto that’s near a commuter rail station.
Photographer: Brendan George Ko for Bloomberg Markets
Toronto Leads North America in Construction Cranes
A lot of building is going on. These photos help tell the story.
Just west of Toronto’s Financial District, near the railroad tracks that shuttle workers to and from the suburbs, construction cranes loom above a huge mixed-use development known as the Well. Toronto has been the crane capital of North America since 2015, according to the RLB Crane Index, as developers have erected dozens of residential and office buildings to accommodate the hundreds of thousands of people migrating to the country’s financial center. Canada’s liberal approach to immigration has provided fuel for the building boom. The surge of activity, however, has strained workers and given them new bargaining power: A union representing crane and heavy-equipment operators negotiated higher wages, meal allowances, and other benefits after a strike in May. For key statistics and news on Canada, run {COUN CA <GO>}.
DeCloet is Bloomberg’s managing editor for Canada news. He’s based in Toronto.