Canada’s housing crisis has hit record levels with the Canada Housing and Mortgage Corp estimating a shortfall of 3.5 Million homes by 2030.This supply gap is increasing rapidly due to rising immigration levels. In fact, according to a Desjardins Report, Canada will have to increase their housing starts by 50% immediately to fill this rising demand. 

To address this crisis, the Canadian government has pledged $4B in financing via the Rapid Housing Initiative. This initiative will add another 10,000 units including 3,200 modular units in an accelerated time frame. In fact modular construction offers a unique opportunity to close this rapidly increasing supply gap. Modular units can be assembled in a controlled factory setting and benefit from the speed, cost advantages and enhanced quality control that comes with manufacturing processes over traditional job site construction.

In fact, according to the Canadian Home Builders’ Association many Canadian builders have already identified this opportunity and over the next 3 years, 90% of builders surveyed are considering a modular approach.