RC113 JulyAugust 2024 - Magazine - Page 17
ELLISDON
While costs related to constructing with mass timber are trending downward,
insurance remains a significant challenge, with builders’ risk insurance premiums
significantly higher compared to concrete and steel projects.
structures reveals a nuanced picture. It’s not merely about swapping
one material for another; rather, it involves considering various design elements and their associated costs. Factors such as acoustics and
moisture management can increase the cost of building with mass
timber, while some expenses can be o昀昀set within the interior. For instance, with exposed timber, fewer 昀椀nishes are required, contributing
to potential cost savings.
Overall, there’s still a premium associated with mass timber compared to traditional materials, but this gap has been narrowing over
the past decade. Several factors contribute to this trend, including
the decreasing cost of timber, growing familiarity with mass timber
design and construction, and the emergence of more suppliers.
While costs related to constructing with mass timber are trending
downward on average, insurance remains a signi昀椀cant challenge,
with builders’ risk insurance premiums signi昀椀cantly higher compared
to concrete and steel projects. Additionally, light wood frame and
mass timber are insured in the same way, despite being very di昀昀erent
products with distinct risk pro昀椀les. Despite this hurdle, e昀昀orts are
being made within EllisDon by our team of insurance experts as well
as throughout the industry to advocate for mass timber and educate
insurance companies to mitigate this cost burden, fostering greater
a昀昀ordability and accessibility for mass timber construction.
Building with confidence
To e昀昀ectively promote the adoption of mass timber as a construction
technology, transparency is key. It’s essential to candidly discuss
both its advantages and disadvantages when compared to traditional materials like structural steel and precast concrete. By openly
addressing these factors, stakeholders can make well-informed
decisions that drive the industry forward. Highlighting the similarities between mass timber and conventional materials not only eases
clients’ concerns but also builds con昀椀dence in its e昀케cacy. However,
acknowledging the di昀昀erences is equally important for a comprehensive understanding of each method’s strengths and weaknesses. This
balanced approach fosters innovation and encourages sustainable and
e昀케cient construction practices, ultimately bene昀椀ting the industry in
the long term.
Celebrating 30 years of improving
the world around us.
RENEWCANADA.NET
JULY/AUGUST 2024 – RENEW CANADA 17
