First Nations land top development executive

First Nations land top development executive

Over the last three years, a trio of First Nations has been involved in some of the biggest B.C. land deals this decade – acquiring six Metro Vancouver properties totalling 160 acres and worth $1 billion. Now they’ve hired the executive who helped make it happen. David Negrin, the president of Aquilini Investment Group and Aquilini Development and Construction since 2007.

Business in Vancouver

Malls need to diversify as destinations for shoppers

The rise of online shopping is forcing Canadian malls to diversify and become destinations that offer a range of services including entertainment and sporting venues in addition to traditional clothing stores. “The mall has to become more interesting,” said Eric Foster, a real estate consultant who helped develop the large, mixed-use DIX30 shopping complex on Montreal’s south shore.

Canadian Press

The greenest option for 564 Beatty Street

The greenest office building is the one that doesn’t get built. The act of tearing down an office tower to erect a new one in its place eats up a lot of resources and creates a lot of waste, said Colin Scarlett, an executive vice-president with Colliers International in Vancouver.

Property Biz Canada

Calgary real estate buoyed by Toronto, Vancouver developers

The real estate market in Calgary’s core is being buoyed, in part by outside investors, an analyst says.  Matthew Boukall with Altus Group says Calgary is still seeing major development applications and developers buying up land. But much of that is coming from Toronto and Vancouver, he says.

CBC

Calgary developer bullish on DT residential market

A developer with a 50 per cent stake in a proposed residential tower project that would occupy a full city block downtown says he remains bullish about the Beltline’s real-estate market. Sam Gordon, principal at Wexford Developments LP, said he expects energy prices will improve over time and that demand for new large-scale housing projects will pickup. 

Calgary Herald

GVA regional growth strategy a victim of drive-by planning

Notwithstanding its boost to the Tsawwassen First Nation economic development and the retail landscape, this mall is a travesty of common-sense planning . The last few weeks have been punctuated by three transportation developments that lead to one question: has the Metro 2040 regional growth strategy been fatally crushed by oncoming traffic?

Business in Vancouver

Delta Rise tower to pave way for more high-rises

As Delta’s tallest tower nears completion, the 37-storey building is expected to become a catalyst for much-needed redevelopment in an important section of North Delta, according to developer Satish Sharma and Delta Mayor Lois Jackson. Delta Rise is a residential and office condo tower near Delta’s boundary with Surrey expected to be complete by March 2017.

Vancouver Sun

SmartREIT acquires retail-office centre in Pointe Claire, Quebec

Smart Real Estate Investment Trust  (SRU.UN-T) is pleased to announce its acquisition of a mixed-use retail-office centre in the heart of Pointe Claire, Quebec. The 382,000 square foot mixed-use centre is 99% leased and incorporates a fully leased 62,000 square foot six-storey office building.

Marketwired

Canadian golf courses targets of hot real estate market

Real estate prices in the Toronto and Vancouver areas have skyrocketed to such an extent that the Canadian government has raised concerns. In Vancouver, the British Columbia government has imposed a tax on foreign buyers. The Bank of Canada is also concerned about the overheated real estate markets. One sector that’s been feeling the pressure for a couple of years is golf courses.

WBFO.org

Does the Surrey RCMP need a surveillance camera database?

Sometime between April and July, Surrey’s director of Public Safety Strategies was spending another evening listening to people. Terry Waterhouse was at a community forum collecting ideas for his comprehensive safety strategy when a business owner started to speak. After a couple of sentences, Waterhouse knew the man was on to something.

CBC

Shoppers Drug Mart formally applies to distribute marijuana

Shoppers Drug Mart has applied for a licence to dispense marijuana to patients with a prescription, a potentially significant source of revenue for the drugstore giant. In a statement, spokeswoman Tammy Smitham said the chain of drugstores has officially applied to be a licensed producer of marijuana. The company plans only to distribute it, not grow it.

Financial Post

Oxford Properties, Crown extends lease with NBA

Not to be outdone by MLB’s announcement last week of a 400,000-square-foot lease at 1271 Sixth, the National Basketball Association (NBA) has signed a 175,000-square-foot lease extension through 2035 at 645 Fifth Ave. in New York City. Olympic Tower, owned by Oxford Properties and Crown Acquisitions, is a 21-story, 419,000-square-foot, 4-Star office and residential tower built in Midtown Manhattan’s Plaza District submarket.

CoStar Group

CPPIB invests in fund Chinese gateway city development

Canada Pension Plan Investment Board (CPPIB) today announced an investment of US$375 million in Raffles City China Investment Partners III (RCCIP III) that will invest in prime integrated developments in gateway cities in China. CPPIB’s investment represents a 25% stake in the investment vehicle.

CPPIB News Release – IPE RealEstate – Benefits Canada

San Fancisco’s Millennium Tower is sinking and leaning

When residents of San Francisco’s Millennium Tower plunked down the cash (sometimes as much as $10 million) to live the 58-story building, they were probably expecting their new home to be packed with amenities and luxuries to make their lives as easy as possible. But the odds are, what they weren’t expecting was the need to question whether or not their new living arrangements were safe.

BDC Network

Growing appetite for risk by capital providers for German property

According to FAP founder and managing partner Curth Flatow, “The formula is simple – capital is seeking deals. We are in a booming market with a positive outlook. The search for alternative investments is intensifying and capital providers are increasing their appetite for risk and/or lowering their ROI requirements.”

ReFire Online

Market Trends and Research

Fitch affirms CMLS Financial Ltd.’s servicer ratings

The primary and master servicer ratings reflect CMLS‘s experienced management group, dedication to developing internal servicing technology providing the company with strong reporting and research capabilities, limited but sufficient internal control environment, and the financial condition of CMLS Financial.

Businesswire

Hydro One rates vary widely across the province

Ontario electricity bills are the new weather. Everyone loves to talk about how high theirs is, how their respective utility must be the worst, most expensive in the province. But not everyone can have the highest bills in Ontario. So who really pays the most?

Financial Post

Container traffic slated to grow in Halifax

Bigger than any other container ship to ever call here, the CMA CGM Tage docked at the Port of Halifax earlier this month.

The Chronicle Herald

Real Estate Companies

Centre for Geography and Exploration moves to 50 Sussex Dr.

By next year, you may be able to experience the view from the Rocky Mountains or the Canadian Arctic Archipelago, without ever leaving Ottawa. Canada’s Centre for Geography and Exploration is moving into the former Canada and the World Pavilion at 50 Sussex Dr., the National Capital Commission announced Monday.

CBC

Real Estate Investment Trusts

Beaten up, analysts say it may be time to buy RioCan REIT

The largest real estate investment trust in the country is finally cheap enough to buy, says a new report. Raymond James analysts Ken Avalos and Johann Rodrigues have raised their rating on RioCan REIT (REI.UN-T) from market perform to outperform with a six to 12 month target price of $29.

Calgary Herald

Retail

Target plays up value for the holiday season

From a Broadway-style marketing campaign to more exclusive toys, Target wants to lure shoppers during the final critical months of the year. More importantly, though, it needs to convince shoppers that it’s the place for deals. The Minneapolis-based retailer is heading into holidays a little bruised after seeing drops in customer traffic and a key revenue measure.

The Chronicle Herald

New Development

Expected city hall showdown over Hamilton LRT

Tuesday’s showdown over LRT at city hall is shaping up like a good day for those in favour of the $1 billion project and a day to regroup and re-think strategy for councillors opposed to the project. But the meeting, which will present the views of more than 1,000 citizens and hear a comprehensive update on the project from staff.

CBC

Sports Venues

New Mosaic Stadium: ‘The house that Durant built?’

Lets face it. Old Mosaic Stadium is a dump, it’s the fans that make it what it is. The century old park has one game left before it’s retired by the Roughriders who are moving to the New Mosaic Stadium, and a lot of players will tell you it’s long overdue.

CBC

City staff advise against appointing councillors to Northlands board

Edmonton city councillors are being advised by city administration to no longer sit on the board of directors for Northlands in order to avoid a “potential conflict of interest.”  Currently, three of the city appointees on the 20-member board are members of council.

CBC

Infrastructure

Canadian cities push back on plans for infrastructure bank

Canada’s municipalities are pushing back against plans for a $40-billion federal infrastructure bank, warning Ottawa that it should not be capitalized with the billions of dollars promised cities for transit, bridges and other projects. Finance Minister Bill Morneau’s advisory council on economic growth released a report last week calling for the creation of a new infrastructure development bank.

Globe and Mail

Human Resources

Plaza Retail REIT announces officer appointment

Plaza Retail REIT (PLZ.UN-T) is pleased to announce that Peter Mackenzie has been appointed Executive Vice-President and Chief Investment Officer (CIO), commencing January 1, 2017.  Mr. Mackenzie will be primarily focused on property acquisitions, divestitures, specific leasing initiatives and sourcing development/redevelopment projects.

Stockhouse

Alison Beddard of Cushman & Wakefield Commerce to lead CREW Network

The Commercial Real Estate Women (CREW) Network announced the new members of the Board of Directors, which will be led in 2017 by President Alison Beddard of Cushman & Wakefield Commerce based in Utah, Nevada.

Marketwired

Other

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