Good morning, everybody.

My name is Darrell Searles. I'm the president of Lodestar Structures and the co-inventor of the Lodestar building system.

I would like to thank, first of all, the team at Lodestar for entrusting me with this meeting, and I would like to thank the committee members for having me here today. It's a great honour for me to be able to share my perspective on the housing crisis that's gripping our nation and that is causing so much of our population to come under stress.

Lodestar is a company driven by a mission to transform the building industry. The mission is rooted in our belief that every human being deserves a warm, safe, affordable place to call home. Our core values emphasize responsibility, and we are committed to developing scalable building solutions that not only address our current challenges but also foster resilient and inclusive communities.

At Lodestar, we are laser focused on a first principle design approach and on the use of advanced manufacturing. Our goal is to enable every community with the opportunity to have access to high-quality, rapidly produced housing solutions.

As we confront the pressing housing crisis in Canada, we must do so responsibly, protecting our environment and driving down costs, committing to the highest bars regarding environmental and social governance.

Recent government initiatives, including the national housing strategy, have laid the groundwork for addressing these issues through strategic plans and supportive legislation. Unfortunately, we're not seeing a sufficient increase in progress nationwide, affirming that much more is needed from our leaders.

With millions struggling to find adequate housing, current processes and methods of construction are inadequate to supply the demand. Of the millions in need of adequate housing, many of these would be considered gainfully employed citizens, which means the crisis cannot be solved with just more homes. It has to reduce costs.

If we are going to successfully solve this crisis, an immediate and aggressive approach to implementing rapid housing solutions is critical. The growing demand for affordable housing is compounded by rising material and labour costs and shortages. Our skilled workforce is depleting, and the need is growing. Therefore, our response must be multi-faceted.

Lodestar's innovative building system directly addresses these challenges. Our projects prioritize affordability and responsibility. By utilizing our building system, we can collapse construction time by up to 60% and can reduce costs, making it possible to deliver affordable housing solutions at a scale that could solve Canada's housing crisis within three years with the proper support. Systems like Lodestar are the solution, and without them, we don't stand a chance.

Moreover, we are committed to environmental stewardship. Our approach reduces greenhouse gas emissions, minimizes waste and reduces energy consumption, aligning with Canada's broader goals of sustainability. Through eco-friendly materials and efficient construction practices, we are setting a new standard for what it means to build responsibly.

Government support has been pivotal in our efforts. Past bills and strategies have paved the way for some innovations in housing, but a different approach is needed. We must ensure that regulatory frameworks evolve to embrace advanced technologies, making it easier for companies like ours to implement innovative solutions.

The future of homebuilding must embrace advanced technologies and innovative practices. Traditional construction methods are no longer sufficient to meet the growing demands of our population. We envision a paradigm shift towards modular prefabricated systems that allow for quicker on-site assembly and reduced labour costs. This will give regulatory confidence, allowing for a vast reduction in government interference. For this shift to occur, collaboration among government, industry and stakeholders is essential. We must invest in creating new jobs and training the workforce to support these new technologies.

In conclusion, Lodestar and other advanced technologies represent viable solutions to the housing crisis we face. By investing in and by adopting innovative building systems, we can responsibly enhance housing affordability, availability and sustainability for all Canadians.

Most Canadians are aware of the current state of our housing market. Some are benefiting, and some are not. Those who are benefiting are doing so greatly, and those who are not are experiencing struggles that were not thought possible in this great country. This makes me not only sad but also very determined. I would like to encourage this committee to join in my determination to use every influence that you have, every means that we have, to solve this situation and to help Canadians get into homes.

Thank you.