SUBJECT: BIRD AWARDED CANADA’S TALLEST MODULAR BUILD
Bird Construction Inc. (TSX: BDT) announced today that it has been awarded a construction management services contract for BC Housing's Permanent Supportive Housing Initiative, located on East King Edward Avenue in Vancouver, BC. The 14-storey modular project is valued at approximately $50 million.
The project is part of a joint agreement between the City of Vancouver, BC Housing, and the Canada Mortgage and Housing Corporation (CMHC) to deliver a minimum of 300 permanent supportive homes on five city-owned sites. The East King Edward Avenue building will consist of 109 studio homes, with the base of the building holding a commercial kitchen, dining room, multi-purpose room, and tenant laundry. The building will be collaboratively operated by Vancouver Native Housing Society and Vancouver Aboriginal Friendship Centre Society.
The project design was supported by Bird's pre-construction design services, with the final design delivered by Stantec and Bird's Stack Modular business. The seamless exterior design will include elements that represent Coast Salish and Urban Indigenous Peoples, with the facade highlighted by timber-like panels and blank exterior wall space for culturally themed murals. It will follow the Passive House green building design standard, and the prefabricated modular construction method will reduce construction waste, expedite the construction process, and reduce costs.
As the first modular project of this height in Canada, the volumetric steel modular tower offers 14 floors of quality units on a rapid, repeatable scale. At the same time, it allows for customization to meet the community's needs and creates a look and feel comparable to current purpose-built apartments. With off-site design and construction of the units, the modular approach substantially reduces construction time, facilitating faster occupancy than traditional builds and reducing the impact on the local community during construction, while ensuring strict quality control, rigorous safety standards, and significant energy performance in line with Passive House standards. These benefits position modular construction as an efficient solution to Canada's housing crisis and long-term care capacity challenges, as well as for the delivery of other vital infrastructure with repeatable requirements.
"We are proud to be selected to provide our forward-leaning accelerated construction method to communities in need of housing. Modular construction is gaining considerable momentum in North America and our Bird Stack team has been actively demonstrating the benefits to build more efficiently and fast-track delivery of important infrastructure to the market," said Mr. Teri McKibbon, President and CEO of Bird. "The strong design partnership, coupled with early engagement and collaboration between the project partners and the community, has ensured this vital housing initiative will move forward."
This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to materially differ from those expressed or implied by the forward-looking information.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information, contact:
T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122
About Bird Construction Bird (TSX: BDT) is a leading Canadian construction company operating from coast-to-coast and servicing all of Canada's major markets. Bird provides a comprehensive range of construction services from new construction for industrial, commercial, institutional, and civil infrastructure markets; to industrial maintenance, repair and operations services, heavy civil construction, and mine support services; as well as vertical infrastructure including, electrical, mechanical, and specialty trades. For over 100 years, Bird has been a people-focused company with an unwavering commitment to safety and a high level of service that provides long-term value for all stakeholders. www.bird.ca