Digging In Podcast: Carney’s $60 Billion Projects

Transcript: Hello everybody. It is Russell Hixson here, the editor-in-chief of SiteNews, and we have another episode of Digging In, where we are digging into the biggest construction news stories in Canada. Once again, it was a big week of major announcements, major project updates, and more. We have it all here for you. Our first top story will be the major projects announcement. Of course, we had a leaked list, but now we have something more concrete. Second, we have a humongous mining merger that’s sure to shake up the industrial sector. Third, we have new interesting data on housing and the tumultuous condo market. Fourth, we have the Calgary Construction Association launching its municipal election campaign. Finally, if you stick around to the end and get through all the news, we have our bonus story, which is a groundbreaking sports infrastructure build for the blind.

Mark Carney has announced five projects that will be the priority for the major projects office. These are projects that have been defined by the federal government as nationbuilding projects that are going to get special treatment. The goal for the federal government is that these projects will be decided on in 2 years or less and receive federal support. The first is LNG Canada Phase 2 in Kitimat, BC. The second is Darlington New Nuclear Project in Ontario, a small modular reactor. The third is terminal expansion at Quebec’s Port of Montreal container facility, which would expand its capacity by 60%. Next would be a copper mine in Saskatchewan, the Mlvena Bay copper mine. It’s a net zero copper and zinc project developed with Indigenous partnership. Also, more mining: the Red Chris mine expansion in BC, which would extend mine life, boost copper output, and reduce operational emissions. All five of these fast-tracked projects combined represent more than $60 billion in investment, a ton of work, and thousands of construction jobs.

The response from most premiers has been good. Even Danielle Smith in Alberta, who has been critical of the federal government, said this is good progress, even though an oil pipeline was not included. She thinks those negotiations are still in progress and is optimistic. Not everybody was rosy about this. Pierre Poilievre dismissed the project list as pathetic. He said all that has been done is that Carney is going to send an email to an office that isn’t fully staffed yet, which may one day potentially be considered for approval. He is not particularly impressed. There was also criticism from the Progressive Contractors Association. Paul Dejong said that this is good, but investors must first be convinced that projects will be approved through a process that’s not only faster but clearer and more objective. That is critical to getting these projects over the finish line. He is hopeful but seems skeptical.

Teck Resources and Anglo American plc have merged or agreed to merge in an all-share at-market transaction to form a completely new mining giant called Anglo Teck. It will be headquartered in Canada. The combined company is projected to be a top five global copper producer with 70% exposure to copper. There are many Canadian connections with this. For this deal to go through, many commitments were made. The headquarters will remain in Canada in Vancouver. There will be no net reduction in Canadian jobs. The company has committed to $4.5 billion in investment over 5 years. This includes the Highland Valley Copper extension, trail upgrades, Galore Creek and Shaft Creek projects, and $300 million for critical minerals exploration. It seems like while this will be a North American company, a lot of effort has been made to ensure that Canada gets some benefit out of it. It will be interesting to see what this looks like, because Teck has been a mining giant in Canada for many years. It will be interesting to see how these companies integrate with each other. A merger like this involves such large, complex companies, so it will be interesting to see how their different cultures mesh and how their employees mix together.

Let’s talk housing. CHC has released its fall housing data. The national overview is that housing starts across Canada in the seven largest metropolitan areas were near all-time highs in the first half of 2025. Analysts say this masks sharp regional differences. There were gains in Calgary, Edmonton, Montreal, and Ottawa, but these offset steep declines in Toronto, Vancouver, and even Halifax. Zooming into Toronto, the largest metropolitan area in Canada, housing starts dropped 44% year-over-year, with condo apartment starts down 60%. So far in 2025, observers have found that nine major condo projects have been outright cancelled. This highlights a regional split. Lower mortgage rates have helped boost ground-oriented housing, like single-detached, semi-detached, and row homes in more affordable markets, while higher-cost centres like Toronto and Vancouver have remained sluggish due to affordability constraints and economic uncertainty. According to those regions, foreign investment has really slowed, and government has implemented policies to stem foreign investment. They even wrote letters earlier this year begging the government to allow foreign investment back in, not so much for ownership but for pre-sales. The data shows that foreign ownership of homes is relatively low. However, foreign buying for pre-construction is about 10%. Many builders or developers say that they need that money to make the economics of many of these projects work.

Another trend this data confirmed is the condo versus rental market. While condo sales and construction have slowed down, there has been an uptick in purpose-built rental. That’s surging nationally, not just in high-cost-of-living areas, as people shift away from the stalled condo market. What does this mean for the future? CHC says that the ongoing construction slowdowns in Toronto and Vancouver and some of these high-cost cities pose risks to future affordability and construction jobs. With trade tensions and slower population growth, as student populations decline and immigration populations decline, there will only be gradual recovery in housing starts by 2027. CHC believes this is the status quo for the foreseeable future.

The Calgary Construction Association has launched its 2025 municipal election plan platform, titled “Calgary built to respond designed to last”. They highlighted that construction contributed nearly 9% to the city’s GDP in 2024 and had a huge economic impact. Calgary’s population is booming, growing by 250,000 people in the past 5 years, creating a strain on housing, transit, schools, and utilities. They also highlighted that the city is facing a $7 billion infrastructure deficit, highlighted by crises like the 2024 water main failure. As many remember, that was a huge issue that took weeks to resolve, and there was a lot of excellent emergency work done by people in the sector. Their platform has three main priorities for council. First, they want to expand Calgary’s workforce. This means addressing construction labor shortages, attracting skilled workers, and showcasing trade opportunities. The Calgary Association has been doing this themselves, going into schools and getting construction roles in front of children in the curriculum so people are not just discovering that as a teenager. Second, they want to tackle the infrastructure deficit. That means prioritizing consistent and long-term investment instead of reactive fixes like the water main. Finally, placemaking and city building. They want to leverage $15 billion in upcoming projects to expand transit, recreation, and community spaces and make Calgary an awesome place to live where people will be happy and have great lives.

It’s interesting to see an association like the Calgary Construction Association be so outspoken. In all years covering the Canadian Construction Sector, Calgary strongly advocates for their city. They are not afraid to go to city council and get in front of the leaders and advocate. This is just the latest example of that, and they seem to be on the cutting edge of association advocacy. It will be interesting to see how the city responds because they also seem to have a good, responsive relationship with city officials. The mayor has been seen at many of their events and they have even hosted her for various discussions. It will be interesting to see what comes of this campaign.

Here is our bonus story. How do you play sports if you can’t see? Ontario is helping answer that question with a $3.2 million investment in two projects that make recreation more inclusive and accessible. The funding is going to support Canada’s first ever purpose-built gold ball court at the Canadian Institute for the Blind’s Lake Joseph Center in Rosseau. It features specialized flooring, acoustic panels, and facilities for training and competition for athletes who are blind or have low vision.
What is gold ball, you’re asking? Gold ball is a Paralympic team sport for athletes who are blind or low vision. It is played by teams of two or three on a court that has tactile markings. Players wear blackout shades so everyone is on the same playing field, and they try to roll a ball with bells into the opposing goal while the defenders listen, dive, and use their bodies to block it. It is a very auditory game specially designed for people with low vision, and Canada is finally getting its first purpose-built court. That will be awesome for low vision or blind athletes who want to show their stuff.

Thank you for joining for another episode of Digging in, and I hope you will join us in the future. Go to readsitenews.com and please subscribe to our industry-leading newsletter if you want even more insights and top stories. I will see you soon. Have a good one.