According to Woodworking Network, Aragon, the real estate development company, plans to build North America’s largest residential CLT project. The 77-unit residential Timber House will be built in New Westminster, BC, with Kalesnikoff, a Canadian CLT company, providing the materials.
Wood Markets News
NFIB’s Small Business Optimism Index Slips Lower in April
The National Federation of Independent Business reported its Small Business Optimism Index (SBOI) declined by 1.1 points to a reading of 89.0 in April. This marks the sixteenth consecutive month below the survey’s 49-year average of 98.
Mortgage Credit Availability Shrinks Again in April
According to the Mortgage Bankers Association, mortgage credit availability decreased in April. The MCAI fell by 0.9% to a reading of 99.6 in April. A decline in the MCAI indicates that lending standards are tightening.
BC Forest Practices Board Releases Its 2023–26 Strategic Plan
On Tuesday, the BC Forest Practices Board released its 2023–26 Strategic Plan, setting new priorities for advancing the public interest in forest and range practices in British Columbia.
India’s Century Plyboards Announces Extensive Non-Structural Panel Expansion
India’s Century Plyboards has announced that it is considering an investment of Rs 2,000 crore to expand its laminates, MDF, and particleboard capacities over the next three years, according to a report by “Construction Week India.”
Timber Tower in Budapest Provides 360-Degree Views of Nature Reserve
Robert Gutowski Architects has designed a winding Lookout Tower that serves as a sculptural beacon for hikers visiting the nature reserve of Budapest and Naplás Lake, according to a recent feature in Yanko Design magazine.
Commercial and Multifamily Borrowing Declines 56% in 2023Q1
The Mortgage Bankers Association (MBA) announced Tuesday the results of its Quarterly Survey of Commercial/Multifamily Mortgage Bankers Organizations. Commercial and multifamily mortgage loan originations in 2023Q1 were 56% lower year-over-year and 42% below 2022Q4.
Out-of-Control Wildfires in Alberta Prompt State of Emergency
Alberta’s Premier told a news conference on Saturday that the province has declared a state of emergency “to protect safety, health, and welfare of Albertan’s,” according to ABC News. One-third of the 110 blazes were listed as out of control.
US Wood Pellet Exports Up Month-Over-Month and Year-Over-Year in March
The US exported 909,787.1 metric tons of wood pellets in March, up from 632,043.8 metric tons in February. Total wood pellet exports for the first three months of 2023 reached 2.18 million metric tons at a value of $402.08 million.
Kronospan Opens New State-Of-The-Art Particleboard Plant in Tortosa, Spain
Kronospan, in just a little over a year’s time, and an investment of approximately 400 million euros, has built a new state-of-the-art particleboard plant in Tortosa, Spain, capable of producing 2,000 m3 per day.