Triovest buys run-down city block in Calgary

Triovest buys run-down city block in Calgary

A rundown but historic downtown Calgary block  has been targeted for revitalization by a developer.  The five buildings on the 100 block of 7th Avenue S.W., a shabby but busy commuter strip on the south side of the CTrain tracks, have been sold to Calgary-based property company Triovest.

Calgary Herald

Google opens retail space in Vancouver

In a North American first, Best Buy stores in four Canadian cities, including one in Vancouver are now home to large-scale (670-square-foot) Google shops, where consumers can purchase or test-drive the company’s products like the new Pixel phone, the Daydream View virtual headset and Chromecast Ultra video streaming device.

Vancouver Sun

Commercial property shows signs of slowing

Canada is on pace for a record-setting year for commercial property deals, but there are signs that lenders are curbing their appetite for the country’s real estate market. Commercial real estate activity this year is poised to exceed the $32-billion record set in 2007, brokerage CBRE said in a new survey.

Globe and Mail

Robson among world’s priciest shopping streets

Vancouver’s Robson Street has been named the seventh most expensive shopping street in the Americas in a new report by Cushman and Wakefield, but retail property experts say the fast-fashion street appears to be in a down-cycle as luxury brands seek nearby locations on Alberni and Burrard streets.

Vancouver Sun

Alcohol sales in supermarkets a boost to asset values

Commercial real estate experts say that adding alcohol sales to supermarkets is a no-brainer that will boost asset values and sales for companies that secure the highly-coveted licences. The sale of wine in grocery stores was launched in October in Ontario joining British Columbia which has permitted wine sales in grocery stores since April 2015.

Property Biz Canada

Builders come together to create Wateridge Village

The largest chunk of undeveloped land left in Ottawa’s core begins its transformation into a residential community as sales officially open this weekend at Wateridge Village. Set on 310 acres of rolling land that made up Canadian Forces Base Rockcliffe will ultimately see an influx of some 9,500 residents in about 5,300 homes and condos over the next 15 to 20 years.

Ottawa Citizen – Marketwired

Group unveils Ottawa’s CFB Rockcliffe development

Plans for a new residential community at CFB Rockcliffe were unveiled Monday afternoon when the development group — including Canada Lands Company, the Algonquins of Ontario and three local builders — presented the official plan for a sustainable 310-acre community that will house 10,000 residents.

Ottawa Citizen

Ottawa Hospital board rejects proposed site for new Civic

The future site of a new Civic hospital is up in the air after the hospital board said no to Tunney’s Pasture Tuesday. Citing concerns about access, costs and timeline, the board of governors of The Ottawa Hospital rejected Tunney’s Pasture as a potential site for a new $2 billion Civic hospital.

Ottawa Citizen – Ottawa Citizen

Walton lists 300-acre south Kanata property up for sale

After spending several years pushing the city to open up a massive swath of land in southwest Ottawa for development, Walton Ontario has put a 300-acre parcel up for sale. Walton’s 300-acre parcel is located between Eagleson and Old Richmond roads, immediately south of the Bridlewood community.

Ottawa Business Journal

Edmonton calls dibs on land Beaumont just annexed

The Town of Beaumont has won its legal fight to annex a good chunk of Leduc County land that separates the bedroom community from Edmonton. But Edmonton isn’t surrendering its claim. The province may have awarded those 585 hectares to Beaumont. But Edmonton’s mayor says this isn’t over.

Edmonton Journal

Henrik Slipsager joins Impark Board of Directors as Chairman

Imperial Parking Corporation announced the appointment of Henrik Slipsager as Chairman of the Board of Directors. From 2000 to 2015 Henrik Slipsager served as President and CEO of ABM, a provider of integrated facility solutions including parking management to commercial real estate, healthcare, aviation, education, and other industries.

Canada Newswire

Château Laurier revised plan deemed ‘inappropriate’

The proposed expansion of the Château Laurier should not be allowed to go ahead in its current form, Heritage Ottawa says. The critique comes a little more than a week after the owner of the hotel and its team of architects unveiled a revised design following an original plan.

Ottawa Citizens

Vancouver architect Joe Wai, a dragon with deep sense of history

Some say architect Joe Wai’s political sensibilities must have been sparked when his grandparents’ Strathcona house was expropriated by the federal government in the late 1950s for urban renewal.  It wasn’t until his late 20s Wai said, that he joined the Strathcona Owners and Tenants Association to fight further expropriation and a freeway that would go right through Chinatown.

Vancouver Sun

CRE tech firms VTS, Hightower to merge

Two of the biggest names in commercial real estate technology are joining forces. VTS and Hightower would merge to form the industry’s leading leasing and asset management platform under the VTS name. The combined company will manage a portfolio totaling more than five billion square feet.

Globe St.

GID secures construction funding for massive Manhattan project

In one of the largest real estate financing transactions since the Great Recession, a partnership headed by privately held General Investment & Development Cos. (GID) closed $2.4 billion in debt and equity financing for the construction of Waterline Square, a three-building, 1,132-unit residential mega development on Manhattan’s Upper West Side.

CoStar Group

Featured Column

We can’t afford to keep treating public infrastructure as a public asset

The Liberals want to create an “infrastructure bank.” We won’t get the full details until the 2017 budget, but we do know this much: This bank will operate at arm’s length from government.

Read more

Why is world capital attracted to Vancouver Real Estate?

Real estate has traditionally been considered an illiquid asset. But in Vancouver’s red-hot market, that’s changing. Let’s look specifically at commercial real estate.

Read more

Market Trends and Research

Border strategy has had little impact: auditor general

A high-profile strategy to ease the flow of travellers and trade to the United States and boost border security has had little impact, a new report says. The “Beyond the Border Action Plan” was unveiled in December, 2011 to much fanfare to boost trade and eliminate border bottlenecks.

Toronto Star – Globe and Mail

Real Estate Companies

Mainstreet Health Investments acquires memory care communities

Mainstreet Health Investments Inc. (TSX: HLP-U) has entered into an agreement to acquire a portfolio of three memory care communities comprising 171 units for an aggregate purchase price of US$44.3 million.

Canada Newswire

Real Estate Investment Trusts

Nobel REIT reports results for the third quarter

Nobel REIT, NEL.UN-X

Canada Newswire

Automotive Properties REIT acquires Montreal area dealerships

 Automotive Properties REIT (APR.UN-T) has entered into an agreement with an unrelated party to purchase an automotive dealership property located at 1905 and 1917 Boulevard Sir Wilfred Laurier in St. Bruno, Quebec  within the Greater Montreal Area, for a purchase price of approximately $14.3 million.

Canada Newswire

Plaza Retail REIT redemes convertible unsecured subordinated debentures

Plaza Retail REIT (PLZ.UN-T) will issue a redemption notice on November 30, 2016 to the holders of its 7.00% convertible unsecured subordinated debentures due December 31, 2017, providing for the redemption in full of all the currently outstanding Series C Debentures.

Canada Newswire

Restaurants and Eateries

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New Development

Editorial: Montreal stores can’t win

Woe to the small business owner who sets up shop in Montreal. As if it weren’t tough enough pouring one’s heart, soul and life savings into opening a businesses, proprietors in certain hot Montreal neighbourhoods have come under attack in recent months, apparently by anarchists blaming them for gentrification.

Montreal Gazette

Resorts

Ski resort to open with $6.5M shortfall after fraud case

Jay Peak ski resort owner and president ccused by the Securities and Exchange Commission of massive fraud months ago is set to open for the season with what a federal receiver overseeing it says is a $6.5 million shortfall.   He said the resort typically loses money during the off-season but a prudent operator would have a cash reserve.

Winnipeg Free Press

Renovation and Restoration

Ottawa Art Gallery receives donation for expansion project

Ottawa Citizen

Infrastructure

Champlain Bridge safe to use until replacement ready, officials say

The Champlain Bridge will be safe to use until its replacement is ready in 2018, the federal bridge corporation says. Officials gave a briefing Tuesday to explain the nature of the work that was done over the last year, and what needs to be done in the coming year.

CBC

Evergreen Line late but under budget

The long-anticipated Evergreen Line train to Coquitlam, which will begin operating on Friday, came in under budget. During a technical briefing on Tuesday, the B.C. government said the project had a budget of $1.431 billion, and will end up costing $70 million to $85 million less.

Vancouver Sun

Other

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