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As of Canada Day, 2024, there were 311 cranes on buildings across the Greater Toronto and Hamilton Area (GTHA), according to UrbanToronto's UTPro tracking of construction projects.
From just the last quarter, this represents a 4.2% drop in active cranes as reported in May. Excluding Hamilton, this is the fifth consecutive quarter that saw a decrease in the number of active cranes in the Greater Toronto Area, from the high in January of 2023. This trend is in line with the overall trend of slowing construction in the era of high interest rates.
In terms of the total number of cranes in each region, Toronto leads with 183 (which, by pure coincidence, is the same number as last quarter), followed by Peel region with 37.
Altogether, the cranes are constructing a total of 93,036 dwelling units, and more than 67 million ft² of commercial floor area. Despite the fewer number of cranes, there are nearly 38% more units under construction and 21% more square footage being built. Moreover, 134 projects in the GTHA have one crane, while 62 have two, 15 have three, and only 2 have four or more cranes.
We'll be back again soon with the changes over the upcoming months, but in the meantime, you can always keep-up-date on the situation though our cranes thread where you can track the cranes at every project in the GTHA.
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UrbanToronto research and data service, UrbanToronto Pro, provides comprehensive data on construction projects in the Greater Toronto-Hamilton Area—from proposal through to completion. We also offer Instant Reports, downloadable snapshots based on location, and a daily subscription newsletter, New Development Insider, that tracks projects from initial application.
