Tree Frog Forestry News

Why Canada is incentivizing Mass Timber development

By Les Medd
JLL The Investor
December 3, 2019
Category: Wood, Paper & Green Building
Region: Canada

Timber buildings are grabbing headlines around the world, as developers race to meet tenant demands for sustainable, wellness-oriented office spaces. But it’s Canada that is leading the charge, providing incentives for investors looking to wood. …Wood construction has grown increasingly competitive on a cost basis in recent years, offering potential savings in a number of areas. …Canada’s environmental agency, NRCan, has been funding the development of the mass timber industry through various programs since 2007. …Building on this success, in 2017 the government launched the more ambitious Green Construction through Wood program… to cover the incremental costs of many more demonstration projects. …Federal and state governments have also worked to reduce regulatory barriers to mass timber. …While the use of timber has been shown to reduce development costs in certain areas, developer interest has grown primarily because of tenant interest in the material’s sustainability and wellness benefits.

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