Prime Minister Justin Trudeau promised the new legislation earlier this month to address the housing crisis and affordability crunch.

Set to open in Q4 2024, the 379,000-square foot centre was designed to be zero-carbon ready, as is being developed and constructed by Broccolini.

The report finds the processes add between $21,000 and $58,000 annually to the cost of renovations and infill building projects, and add more than 30 days on top of the city’s service-standard targets.

The seven-storey building will feature 256 long-term care beds and 57 affordable rental homes for seniors, as well as ground-floor non-residential space.

The residential sector propelled the monthly decline, with investment values there falling for the fifth month in a row.