Offering a glimmer of hope in a volatile market, the Greater Toronto Area (GTA) tops the North American Crane Index with 27 per cent of the cranes on the continent, handily beating other major urban areas such as Los Angeles and New York. The report, created by RLB, tracks the number of cranes in Q1 2020 in 14 major urban markets, with the GTA dominating the list with 121 cranes, compared to 47 in Los Angeles, 36 in Seattle, 33 in San Francisco and 26 in New York. Calgary ranked third with 37 cranes.
The (not so) secret ingredient? The GTA condo market, with almost 88 cranes alone on condo projects in the area. Another factor is The Well, a major mixed-use development which currently has 8 cranes.