< PreviousDecades ago, when it came to having a place to live, many of us were told about the importance of buying a house – and not just any house. We needed to buy a home that was a place to accommodate our future needs, such as children or pets, with a garage for our car, a workshop, garden shed and more. Today, with soaring prices, home ownership has become a fantasy for many, especially in cities like Toronto, Vancouver, New York and San Francisco.20Written by Robert HoshowskyIt comes as no surprise that housing in large metropolitan areas is extremely expensive and out of the financial reach of many potential buyers. Despite reported slowdowns, a detached home in Toronto costs a million dollars Canadian or more. As expensive as this is, the price is modest – so to speak – when compared to cities like San Francisco, where the cost of living is an astronomical 62.6 percent higher than the American average. San Francisco is home to numerous well-paying Fortune 500 companies, technology, aero-space, energy, investment and entertainment firms making housing about three times more than the national average. In the past five years, San Francisco’s median price for a single-family home has almost doubled, to USD 1.61 million.To say the current housing situation in large cities is in crisis is not an overstatement. Many baby boomers – those born between 1954 and 1964 – are long established in the housing market, with some already in the process of downsizing. Similarly, many members of Generation X – those born 1965 to 1984 – have some sort of real estate presence, such as a house or condominium. This leaves Millennials, also known as Generation Y. These men and women were born in the mid-1990s and up, placing many in their early twenties. They see baby boomers who may have inherited wealth from their mothers and fathers and had many more opportunities, including better-paying jobs, cheaper education and less costly rental and housing prices.Home ownership for many Millennials today seems about as realistic as taking a vacation to Mars. Crippled by student debt and with fewer prospects of high-paying, sustainable employment with health and retirement benefits, Millennials in large cities face both out-of-reach house prices and astronomically high rents. In Toronto, a one-bedroom apartment averages $2,040, only slightly less than $2,101 in Vancouver. Even in the city of St. Catharines, a two-hour drive from Toronto, a one-bedroom apartment will set you back $1,120 a month.21CONSTRUCTION IN FOCUS With rents this high, it is no wonder Millennials are living two or three to a small apartment or are still at home with mom and dad.Although the housing situation seems dire, there is hope, as developers are refocusing towards a younger market and putting prices within reach. While still expensive, more cities are seeing developers creating massive condominium devel-opments, such as Dundas Square Gardens. This is the vision of Dr. Steve Gupta, the president and chief executive officer of Easton’s Group of Hotels. The 978-unit Dundas Square Gardens is being erected at the corner of Dundas and Jarvis in Toronto a brief walk from the heart of the city at Dundas and Yonge. The location is easily accessible to Ryerson University, CityTV, the Eaton Centre, shops, bars, clubs and restaurants. It promises to “define the new standard in urban luxury living.” The 47-storey structure will dramatically change the city’s downtown. When first announced in 2014, unit prices started at $199,988, with planned occupancy this December.The smallest condo is 305 square feet; the largest is 1,012 square feet, and many are in the 500-square-foot range. To baby boomers who grew up in massive suburban or city homes, the notion of living in a unit smaller than some kitchens may seem incomprehensible, despite shared amenities for all residents, including a party room and kitchen, gym, yoga room, fire pit, barbecue areas, lounge, bar, infinity pool and more. Small units – sometimes referred to as ‘micro condos’ – present a way for younger people to get into the real estate market that fits their minimalist lifestyles.Millennials, in general, tend to value experiences over posses-sions. Compared to baby boomers and Generation X – who prize their space-hogging vinyl records, CDs, DVDs, books, photo albums and collectibles – many Millennials are true minimalists, and technology allows them to be. Why have bookshelves full of tomes collecting dust when you can have entire libraries on a Kindle, Kobo or other e-reader? Likewise, who needs CDs, when thousands of songs can be stored on an iPhone, Android or MP3 player? And who has photo albums today, when virtually unlimited images can be stored offsite in the Cloud? Likewise, owning a vehicle is seen as unnecessary, as renting a car, biking or taking an Uber are just a few viable and cost-effective options.A concept of home is not the same as it was to their parents and grandparents, who prized their yards and gardens. A house is a place to sleep, eat and relax, not spend time gardening. While so-called micro condos present challenges for storing clothes and bulky items, the payoff means a greater flexibility to experi-ence life, go away on vacation, attend concerts and spend time with friends outside of the residence.“Although the housing situation seems dire, there is hope, as developers are refocusing towards a younger market and putting prices within reach.”JULY 201822Fewer parents are bequeathing money to their children, and given astronomically high prices for houses, more developers are transforming vacant lots, old warehouse space, churches and other land into sky-high tiny condos, usually 400 square feet or less. Despite some naysayers, they are selling out. The reason is market demand. Locations are carefully chosen by developers, and condominiums are often built right downtown or, in the case of Toronto’s Dundas Square Gardens, a short walk or bike ride from the core. Montreal, for example, is home to Canada’s tiniest condo to date, measuring a mere 278 square feet. For buyers, the upside to 21e Arrondissement is its location in scenic Old Montreal, near restaurants, clubs and nightlife.To make these units liveable, developers are including modern versions of old-fashioned Murphy beds, which fold up into the wall, freeing space for a home office or living room. Smaller-size living has also led to many ingenious storage solutions, such as ceiling-high cupboards with no wasted space and closets with the maximum interior room possible. Instead of permanent walls, some developers have opted for floating walls for privacy, which can be retracted as needed. And for day-to-day needs, stackable laundry appliances are often tucked away in closets.“Small units – sometimes referred to as ‘micro condos’ – present a way for younger people to get into the real estate market that fits their minimalist lifestyles.”Likewise, every major furniture manufacturer in recent years has created ‘condo-sized’ furniture, including sofas, chairs, desks, computer tables, nightstands and more. Pieces such as coffee tables have hidden areas for additional storage.As time goes on, developers will build more small condo-miniums. They are not only popular with younger people entering the housing market; many people are purchasing tiny downtown units for investment as rental units. For retirees looking to downsize from a massive home, there are countless benefits from paying far less money in property taxes, mainte-nance and utilities to living a more minimal lifestyle and being close to downtown centers and amenities like stores and hos-pitals. Considering that the average Toronto condominium was 739 square feet just five years ago and that units of 400 feet and less sell out today, one can only imagine how small our living spaces will be in the years to come.23CONSTRUCTION IN FOCUS The Midwest has always been a hotbed of activity for the manufacturing industry. With all of the necessary environmental and geographic ingredients such as accessible rivers and lakes, plentiful forests, and rich soil, products that range from wheat to automobiles, textiles to airplane parts have all come out of the region for hundreds of years.AZCOJULY 20182425CONSTRUCTION IN FOCUS Written by Stacey McCarthy In 2010, the Midwest accounted for 30 percent of total U.S. manufacturing, while the regional manufacturing work-force represented 10 percent of the region’s total employ-ment – a higher percentage than any other region. And one of the most notable manufacturers to come out of the Midwest is AZCO Inc., an national industrial and fabrication contractor located in Appleton, Wisconsin. AZCO was initially formed by four individuals, one of whom was the late F. John Barlow – a reputed prolific and colorful figure in Appleton. At the time of its inception in 1949, AZCO was primar-ily focused on the industrial piping industry. HEARTLAND BUSINESS SYSTEMSHeartland Business Systems (www.hbs.net), is a single source for consulting, design, solutions, and delivery. Our belief is every organization deserves access to the same level of resources, innovation and technological expertise. For over 25 years, HBS has been supporting companies, schools, hospitals and government agencies of all sizes with all levels of need for technol-ogy improvements. With 140+ employed engi-neers, HBS provides the depth of technical talent required to meet all your technology goals.JULY 20182627CONSTRUCTION IN FOCUS The name “AZCO” was chosen because the company wanted to be able to provide services to their customers that ranged from “A” to “Z”. In 1953 the team began to expand their focus to metal fabrication after securing a large industrial ventilation project, and their story and services grew from there. With new services also came expanding facilities and new locations.After more than 30 successful years in operation, in 1985 AZCO purchased Hennes Erecting Company, which was an established machinery moving, millwright, and crane services company in Milwaukee. In 1998, Barlow decided to retire so he could focus on his mineral collection and philanthropic work. His shares were bought and distributed amongst the employ-ees of the company, and as a result, by 2005, AZCO became a 100 percent ESOP (employee stock ownership plan) company.It was at this point that AZCO’s focus shifted to the industrial and power plant energy market. After collaborating for over 20 years on many successful projects in the power sector with Burns & McDonnell, a leading Kansas City-based engineering and architecture firm, AZCO was 28acquired by them in 2016. The company’s industry-leading con-struction and pipe fabrication capabilities were a natural fit for the 120-year-old company’s multi-billion dollar construction arm, and the acquisition resulted in the creation of one of the most comprehensive environmental, engineering, procurement, and direct-hire construction and fabrication companies in the world.By joining Burns & McDonnell, AZCO also became part of a family of companies that is made up of more than 5,300 engi-neers, architects, construction professionals, scientists, consul-tants and entrepreneurs with offices across the country and throughout the world. Both organizations are also 100 percent employee-owned, and plan to remain that way.Today, AZCO is known as one of the top full-service indus-trial contractors and metal fabricators in the country. Its work encompasses the power, alternative energy, petrochemical, “AZCO is known as one of the top full-service industrial contractors and metal fabricators in the country.”Next >