Primaris REIT gets down to business after H&R spinoff

RENX  Commercial  •  Retail  •  National

“It’s a little surreal, I’d have to say, but it’s good” is how Primaris REIT (PMZ-UN-T) CEO Alex Avery described his feelings after the trust was spun off by H&R REIT as an independent publicly traded entity on Dec. 31.

Parallax proposes 79-storey, 1,118-unit Bloor tower

Residential  •  Urban Toronto

Parallax has proposed a 79-storey tower that would replace several low-rise buildings at 83-95 Bloor St W. The IBI Group-designed tower would rise 890 feet and include 1,118 residential units in a mix of 444 studio, 377 one-bedroom, 184 two-bedroom and 113 three-bedroom suites.

Wesgroup’s 28-storey Van. tower proposal proceeds

Residential, Commercial  •  urbanYVR

Wesgroup is proceeding with a development application for a 28-storey tower at 3480 E. Kent Ave. S. in Vancouver’s River District. The design, by Boniface Oleksiuk Politano Architects, calls for a 300-foot tower with 314 units and ground-floor retail.

$300M aquatics centre touted for Ottawa transit hub

Commercial  •  Ottawa Citizen

A $300-million recreation complex could anchor future development on government-controlled Ottawa land. Engineer Peter Lawrence and a team of supporters propose a National Aquatics Complex and he’s been having conversations with the National Capital Commission about land near Hurdman Station.

CentreCourt condo project honours Edwardian master

Residential  •  Daily Commercial News  •  RENX

Toronto-headquartered CentreCourt, along with  IBI Group and GBCA Heritage Architects, are taking significant steps to honour the legacy of renowned Edwardian-era architect John M. Lyle at their new 54-storey, 681-unit 252 Church condo project, which is scheduled to launch soon.

Lifetime launches 19-storey XO2 Condos

Residential  •  Urban Toronto

Lifetime Developments, in partnership with Pinedale Properties, has announced XO2 Condos, the second building of its development project in Toronto’s King West neighbourhood. The second phase, with 410 suites and 19 storeys, will stand northeast of the first phase — XO Condos.

Desjardins Group key figure in Quebec architecture

Commercial  •  Globe and Mail  •  REMI Network  •  Montreal Gazette

Financial-services cooperative Desjardins Group‘s network of Caisses populaires, or credit unions, has had a direct hand in Quebec’s emergence of bold architectural statements in the modernist vein and helped nurture a cohort of promising homegrown architects.

Equitable Bank quantifies Scope 3 GHG emissions

Commercial  •  Sustainable Biz Canada

Alberta Canada’s top growth province in 2021: U-Haul

Residential, Commercial  •  CTV  •  Vancouver Sun

U-Haul has named Alberta as the country’s top growth province for 2021 as it netted more one-way truck customers than any other province, followed by British Columbia and Ontario, according to the company’s collection of migration trends for the year.

Cineplex temporarily lays off 6,000 part-time workers

Commercial  •  Globe and Mail (Sub. required)  •  Toronto Star

Cineplex Inc. (CGX-T) is temporarily laying off 6,000 part-time employees due to mandated closures of its venues amid surging COVID-19 cases caused by the Omicron variant, the Canadian cinema operator said on Thursday.

Grocery leaders share their outlooks for 2022

Commercial  •  Canadian Grocer: Part II  •  Canadian Grocer: Part I

Canadian Grocer reached out to Longo’s president and CEO Anthony Longo and The Sweet Potato’s chief executive officer Digs Dorfman and asked them to share their outlooks for the year ahead.

Real estate podcasts

Residential, Commercial  • 

Ray Wong, Altus Group: 2021 year-end biggest deals, CRE Podcast
David Cohen, consultant, author: The great resignation, REALtalk Episode 30
Dave Earle, BC Trucking Association: Supply chain challenges, The Construction Record Episode 148

CBRE to buy $4.9B industrial portfolio

Commercial  •  CP Executive

In a milestone deal, CBRE Investment Management is set to acquire a $4.9 billion global logistics portfolio from Dallas-based Hillwood Investment Properties. Comprising 57 assets across 28.4 million square feet, the portfolio includes assets in both the U.S. and Europe.

Flex operators benefit from office market shifts

Commercial  •  Bisnow

Flexible office operators WeWork and Launch Workplaces said they experienced strong growth last year as the hybrid work shift led office tenants to seek more flexible options. Experts believe that demand will continue to surge in 2022.

Office cleaning costs and upgrades on the rise

Commercial  •  REMI Network

While the cost of office cleaning and maintenance dropped significantly earlier in the pandemic when workers went remote en masse, 2022 is likely to see that cost increase again as more and more employees head back to the office.

Construction sectors move into 2022 at differing pace

Residential, Commercial  •  Daily Commercial News

The construction economies of the U.S. and Canada are moving on a forward trajectory but at different speeds, according to a series of 2022 economic outlooks. Canada is expected to trail the U.S. construction recovery largely due to supply chain issues.

B.C. condo owners see jump in assessed value

Residential  •  REMI Network  •  Business In Vancouver

The average assessed value of condominiums jumped by anywhere from seven to 29 per cent across 19 jurisdictions of British Columbia’s lower mainland in the 12 months between July 1, 2020 and 2021. Notices are now in the mail to property owners province-wide.

Record-breaking 2021 for Ottawa housing market

Residential  •  CTV  •  Ottawa Business Journal  •  Ottawa Citizen

Ottawa’s real estate market set new price and sales records in 2021 despite a December slowdown. The average residential sale price in Ottawa in 2021 was more than $719,000, a 24 per cent increase from 2020, the Ottawa Real Estate Board said Thursday.

Will Montreal home prices keep rising?

Residential  •  Montreal Gazette  •  Globe Newswire  •  Globe Newswire

According to Michaël Simard, a senior economist responsible for market analysis at the Quebec Professional Association of Real Estate Brokers, Montreal housing affordability has become a serious concern that may put a cap on how much higher prices can go.

T.O. homebuyers find ‘the perfect fit’

Residential  •  Globe and Mail

Toronto’s real estate market wafted toward the end of 2021 at a gentle pace. However, as the whirling subsided, buyers and sellers were reaching agreements – even on Christmas Day, says Elli Davis, an agent with Sotheby’s International Realty Canada.