“We’ve also been received very well by that market, because our prefabricated systems are a natural fit,” he adds. “We’re able to fabricate a building much faster than conventional or traditional building methods, enabling our clients to accelerate unit turnover and achieve a rapid return on investment. This has created substantial opportunities for us in the market.” Currently, Skyrise has four rental buildings “in the books” with upwards of more than 1,500 rental units combined. That number is a good demonstration of the heavy demand for new rental properties in Ontario and Canada – and that demand shows no signs of abating. To help meet that demand, Skyrise has also started looking beyond the Greater Toronto Area, where they are based. For example, they recently identified Ottawa as being an “underserviced market when it comes to prefabrication” and an area that “still has huge potential for growth.” They also identified Atlantic Canada as a region in need of their services, as there’s a lot of immigration and migration from the east, but a limited labour pool available to build housing for those migrants. Accordingly, Skyrise launched their first projects in Ottawa and Halifax late last year both geared towards the rental market. Within the past few years, Skyrise has also proven their suitability in the affordable housing market. According to Royston, they made an effort to “tap into the government at all levels” to showcase how prefabricated panels can build homes faster and can get families into housing quicker than alternative methods. As a result of these engagements, they secured an affordable MARCH 2025
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