Greater retail spending and cluttered homes are increasing demand for self-storage facilities

"Storage Wars" and similar shows drove awareness of self-storage in the U.S.; customer demand in Canada has created a need for places to house all the stuff people collect but have no space to store.
By Frank Melo (https://www.summitsteelbuildings.com/getting-to-know-frank-melo)

Modern living is all about managing clutter. North Americans are spending more time living and working at home and purchasing more retail goods while living in smaller urban apartments and condominiums. The situation is creating a storage crisis. Fortunately, self-storage businesses are rising to meet the demand - albeit just not fast enough. The result is a boom for new and existing self-storage space in Canada, especially in metropolitan areas.

DOWNTOWN APARTMENTS AND CONDOS ARE GETTING SMALLER
A Globe and Mail article about the growing opportunity and the popularity of self-storage companies (especially among those living in high-rise apartments and condos in metropolitan areas) referred to a study from Ontario's Municipal Property Assessment Corporation (MPAC) that found people are living in smaller spaces.

The stats were startling:
• Self-storage in Ontario grew by 9%, or 4.2 million square feet, in the last three years to a total of 37.3 million square feet.
• Key drivers for storage growth are downsizing, clearing space to allow for more work-from-home options, and smaller living spaces.
• The average Ontario condominium in 2022 is 35% smaller than it was 25 years ago.
• Units built in the 1990s ranged between 1,200 to 1,400 square feet; units are now typically 650 to 850 square feet.
• Tens of thousands of new condo apartments have been added to Ontario cities in that time; the smaller unit size has created new markets for off-site storage.

It's no coincidence the self-storage industry is seeing its most rapid growth in the same areas across Canada and the U.S. that are also experiencing a similar rise in new high-rise apartment building construction. Rising per-square-foot rents and property costs mean affordable living spaces are smaller, and most buildings are being built with fewer basement lockers and less storage space for tenants.

So, what do people usually need to store? According to statistics compiled by one Toronto-based storage company, large furniture and appliances account for 16% of stored stuff, 15% are large boxes and 12% of items are storage bins (banker box size or less). Winter and summer tires make up 5%. A surprisingly large volume of other space is needed for sports gear, such as hockey bags, golf bags, bicycles and skis.

From a philosophical perspective, the article raised an important question about why people need more storage space: "Do Canadians living in new high-rise apartment buildings have too much stuff, or are the new high-rises too small to contain the stuff Canadians are accumulating?"

ALL THIS STUFF CAN BE EASILY AND SAFELY STORED OFF-SITE
The result of a lack of storage space creates an immense opportunity for entrepreneurs and companies in the storage area to grow their businesses across Canada and the U.S. As more companies continue to invest into the sector, they soon realize the most reliable, durable and cost-effective building solution is to work with pre-engineered steel facilities.

Summit Steel Buildings (https://www.summitsteelbuildings.com/) engineers, supplies and constructs self-storage facilities that are durable for long-term use. We've designed and constructed self-storage facilities to provide the strong security and convenience access that businesses need to succeed.

Our designs are custom designed for each business' specific needs and location and are built affordably and quickly. If your enterprise is looking to get into the self-storage space, or already exists and looking to expand, contact our team at 877-417-8335 to and we'll provide you with a free quote and preliminary drawings.
https://www.summitsteelbuildings.com/greater-retail-spending-and-homes-filled-with-clutter-are-increasing-demand-for-self-storage-facilities

Summit Steel Buildings
970 Burrard Street, Unit 244
Vancouver, British Columbia, Canada V6Z 2R4
Office: 877-417-8335
info@summitsteelbuildings.com
https://www.summitsteelbuildings.com/
Press contact: Paul Mitchell, Marketing Director (paul.mitchell@summitsteelbuildings.com)

Summit Steel Buildings is a premier manufacturing and construction supplier in the pre-engineered building industry. Their engineering team provides full stamped engineered drawings for permit and construction across North America. They fabricate their commercial and industrial steel buildings throughout multiple factories strategically located around the continent to ensure they are able to deliver inland and to any port on the east and west coasts. Please visit https://www.summitsteelbuildings.com/.

This release was published on openPR.