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Mattamy breaks ground on 3 GTA condo developments
Mattamy breaks ground on 3 GTA condo developments
Mattamy Homes’ Greater Toronto Area (GTA) Urban Division officially broke ground on three condominium developments in late January: Westbend on Bloor Street West in Toronto; Mile & Creek in Milton; and Martha James in Burlington.
SmartCentres set to build on 'strong recovery' in 2022
SmartCentres REIT (SRU-UN-T) had a very solid 2022 and expects that positive momentum to continue this year, executives revealed during a Feb. 9 conference call to discuss its Q4 and year-end financial and operating results.
Ban on foreign homebuyers hits CRE deals
Canada’s foreign homebuyer ban is wreaking havoc on commercial real estate deals because the law’s definition of residential property includes land that is zoned for residential use or mixed use, which covers huge swaths of commercial land across the country.
Bed Bath & Beyond Canada closing 54 stores
Bed Bath & Beyond's (BBBY-Q) Canadian operations are going out of business, two days after the retailer staved off a U.S. bankruptcy. The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent.
Indigenous-run developments taking shape in Winnipeg
It takes imagination to see a neighbourhood rising from an expanse of fields in southwest Winnipeg. However, Whelan Sutherland paints a picture of the biggest urban reserve in Manitoba, with schools, thousands of homes, green space and commercial zones.
New Deloitte office stands tall in downtown Vancouver
Deloitte Summit, Deloitte’s new 24-storey office tower, is the latest energetic addition to the area next to Library Square, and kitty-corner from Amazon’s The Post redevelopment, which together represent the latest eastward expansions of Vancouver's Central Business District.
Oneida, Aecon to begin 250MW energy storage facility
Construction on Canada’s largest energy storage facility, a 250-megawatt project near Nanticoke, Ont., is set to begin after the Oneida Energy Storage LP announced Friday it has executed an agreement with Ontario's Independent Electricity System Operator (IESO).
First Capital proposes 25-, 35-storey towers in Scarborough
First Capital has proposed 25- and 35-storey towers at 2650 Lawrence Ave. E. in midtown Scarborough. The Diamond Schmitt Architects-designed towers would include 773 new residential units and 350 parking spaces and 604 bicycle parking spots.
First Capital REIT remains committed to optimization plan
First Capital REIT has reaffirmed its commitment to its enhanced capital allocation and portfolio optimization plan, including the implementation of its normal course issuer bid in May 2022 and the approval and implementation of the optimization plan in September 2022.
Air Products opens new offices in Buffalo and Edmonton
Air Products (APD-N) announced plans to broaden its Americas presence by establishing two new Project Delivery offices in Edmonton and in Buffalo. The Edmonton office is very close to Air Products' two Edmonton hydrogen production facilities.
Top-10 largest construction project starts
The accompanying table records the 10 largest construction project starts in Canada in December 2022. Also included is the latest trend graph on starts. This looks at 12-month moving totals of the civil and non-residential building categories.
Ivanhoe, Mapletree launch $2.5B India tech venture
Canada’s Ivanhoe Cambridge is upping its bets on India’s CRE sector with the announcement of a $2.5 billion-plus partnership with Singapore’s Mapletree Investments to develop, acquire and operate workplaces for the country's burgeoning tech sector.
Google paying $500M to reassess global footprint
“In the first quarter of 2023, we expect to incur approximately $500 million of costs related to exiting leases to align our office space with our adjusted global headcount look,” Google CFO Ruth Porat said in its earnings call.
Remote work is costing Manhattan more than $12B a year
Manhattan workers are spending at least $12.4 billion less per year due to about 30% fewer days in the office, according to a Bloomberg News analysis using exclusive data from Stanford University economist Nicholas Bloom’s WFH Research group.
Walmart pushes back as suppliers ask for higher prices
Walmart Inc. (WMT-N) is warning major packaged goods makers that it can no longer stomach their price hikes, pitching its own private-label products to shoppers as less-expensive alternatives to suppliers’ name-brand goods.
Pent-up demand for housing could lead to a crisis
Royal LePage CEO Phil Soper says there was too much pent-up housing demand going into the pandemic, so the longer the market sits dormant the more demand is building on top of that residual appetite for housing.
Rental fraud grows amid rise in fake tenant applications
Criminal groups are increasingly using fake tenant applications to commit real estate fraud, at a time when a growing number of prospective renters are also falsifying information to gain an edge in a hyper-competitive market.
GTA home prices to tick upwards this year: TRREB
The Toronto Regional Real Estate Board expects the average price of a home to edge upwards as 2023 progresses but end on a lower note than last year as buyers get off the market’s sidelines and make long-awaited purchases again.
Regina most affordable city for single-income earners
Of the five most affordable cities for single-income earners, Regina comes out on top, says a new report from Zoocasa. The average home price there is $311,500 and the income required to qualify for a mortgage is $48,450.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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