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Burnaby’s Metrotown ripe for (re)development
Burnaby’s Metrotown ripe for (re)development
Burnaby is trying to shed its reputation as Vancouver’s suburban cousin with a new, bold plan to transform its burgeoning Metrotown neighbourhood into a downtown core that could eventually rival downtown Vancouver. The controversial Metrotown Downtown Plan, approved unanimously by city council in late July, signals to developers and investors that Burnaby’s Metrotown is ripe for more large, mixed-use towers, more business and more people.
InterRent buys Montreal, Hamilton apartment buildings
InterRent Real Estate Investment Trust (IIP.UN) will spend $65 million to purchase two neighbouring high-rise apartment buildings in Montreal and a mid-rise apartment complex in Hamilton. “We are extremely pleased to announce these two acquisitions,” said InterRent CEO Mike McGahan in a release announcing the purchases. “In Montreal, one of the REIT’s core growth markets, this property is amongst the best locations, right in the heart of downtown.”
Slate ends busy summer with ninth U.S. shopping centre
It’s been anything but a quiet summer at the lake for executives at Slate Retail Real Estate Investment Trust (SRT:U). In the past three months, the trust has purchased nine U.S. shopping centres, including its announcement Friday of the purchase of North Lake Commons in Chicago. Four of the purchases are of individual properties, while the other consists of a five-asset portfolio. In all, Slate has spent about US$168 million this summer.
Is the seniors housing market finally sexy?
As baby boomers hurtle into retirement, Canada faces one of the largest demographic waves in history. Statistics Canada predicts that the senior population, aged 75 and over, will grow by 53.33% between now and 2034. In fact, by 2030, there will be 3.7 million Canadians who will need to relocate to a retirement community. The seniors housing market needs to grow with this wave.
Courses to kick-start Passive House in Canada
Canada should be leading North America in Passive House implementation for larger projects, but hasn’t advanced as quickly as it should, according to a leading practitioner in the field. “The climate is good for this type of building,” said Adam Cohen, the Roanoke, Va.-based founder and technical director of Build SMART and a board member of the non-profit Passive Buildings Canada.
Six months ago: 2017 looks bright, RealCapital panelists say
The U.S. economic and political uncertainty around the election of Donald Trump, Brexit and the future of the European Union might have some real estate executives pulling in their horns. Not so the four executives providing their insights at the closing panel of the RealCapital conference in Toronto this week.
One year ago: For Alberta craft brewers, location matters
Alberta’s economy may be down in the dumps, but that combined with recently introduced government policies have contributed to a boom for the province’s craft breweries. “The elimination of production limits in Alberta is what started the growth of craft beer in Calgary,” said Colliers International Calgary vice-president Michael Massing.
| Property Biz Canada, Tuesday, August 29, 2017 |
| Calgary’s CrossIron Mills shopping centre ‘wild success’ Property Biz Canada, August 29, 2017 |
| Morrassutti on cap rates, foreign investment, Donald Trump Property Biz Canada, August 29, 2017 |
| Wilkinson Project: East Port’s new green building Property Biz Canada, August 29, 2017 |
| Edmonton CRE investment tops $1B so far in 2017 Property Biz Canada, August 29, 2017 |
| Cominar to sell all non-core real estate Property Biz Canada, August 29, 2017 |
| Six months ago: Empty office tower skews New West vacancy rates Property Biz Canada, August 29, 2017 |
| One year ago: For Alberta’s craft brewers, location matters Property Biz Canada, August 29, 2017 |
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