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Recent Articles

Scarborough Centre ripe for development; this site could start it

3 years ago

RENX   • 

Scarborough Centre is ripe for major development and Colliers is marketing a property zoned for a high-density project which could get the ball rolling. The Progress Ave. site is in an area anchored by the 1.6-million-square-foot Scarborough Town Centre mall.

RENX   • 

Housing developer Maître Carré, building on the success of its first Mellem rental housing development in Brossard, plans two additional purpose-built rentals under the brand in Montreal and Gatineau.

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Reliance Properties has acquired the 147,302-square-foot Upper Harbour Place buildings in Vic West. Sun Life Assurance Company of Canada had listed the class-A office space for sale through Colliers Macaulay Nicolls Inc. since April. Financial terms were not disclosed.

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A proposed deal that would have seen Toronto developer Starlight Investments rejuvenate the Portage Place mall in downtown Winnipeg appears to be dead. Lawyers for Starlight have said that they are unable to proceed with the purchase of the mall.

650 Allandale Road

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Siemens Transportation Group‘s 84-acre Pasqua Business Park, just north of Regina’s city limits, will include a terminal for Kindersley Transport as well as a 40,000-square-foot warehouse. Siemens is subdividing the rest of the land into 20 lots starting at $180,000 per acre.

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DHL Express officially opened its doors to its new facility at the John C. Munro Hamilton International Airport. The company invested $100 million to build the new facility, four times the size of the original building located at the airport.

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Vandyk Properties announced PCL Construction as the official construction manager of record for the master-planned, transformational community of Grand Central Mimico, a two-million-square-foot-plus mixed-use development marking the first binding agreement between Metrolinx and a developer.

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Streetcar Developments has proposed a 12-storey mixed-use building at 21 Broadview Ave. in Riverdale. The proposal, designed by Danish architecture firm CEBRA in conjunction with Kasian, also includes 15 three-storey townhouse units. ground-floor retail and a 5,015-square-foot public park.

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Numerous construction cranes are swinging over Halifax as the hot construction pace continues. Duncan Williams, president of the Construction Association of Nova Scotia, says residential construction, sometimes with retail and office components, is a major driver for the boom.

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With the cruise industry shut down in Canada, the Greater Victoria Harbour Authority saw a near $9-million hit to its cruise-ship revenue ­leading to a $1.1-million loss for the ­fiscal year ended March 31. The authority owns and operates waterfront properties.

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Bed Bath & Beyond Inc. (BBBY-Q) plunged after a slowdown in store traffic and unrelenting supply chain challenges led the home-goods company to cut its forecast, an ominous sign for the retail industry ahead of the all-important holiday shopping season.

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Robot waiters that lease for less than $1,000 a month have rolled into B.C. restaurants from Richmond to Vancouver Island as the hospitality industry reacts to a severe staff shortage. The new robot server at Nanaimo’s Driftwood Restaurant has big round eyes.

Panattoni

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Good Sportsman Marketing has inked a new lease at Brookfield Properties’ Passport Logistics Center in Irving, Texas. The company will occupy Building 200, a 494,238-square-foot facility within the class-A 1.2-million-square-foot-plus business park.

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FirstService Corporation (FSV-T) announced FirstService Residential, a North American property management leader, has acquired the Condominium Association Management Division of Atlantic | Pacific Companies, a fourth-generation real estate organization in South Florida. Terms were not disclosed.

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Analysts are concerned knock-on effects of the power crisis could affect the wider Chinese economy, potentially dwarfing any problems resulting from the collapse of real estate giant Evergrande, which has dominated headlines in the last month.

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In an attempt to shore up confidence in its business, beleaguered Chinese real estate giant Evergrande has made several posts on its official social media accounts over the last week, claiming work is resuming on its unfinished construction projects.

Romspen

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The people piling into Canada’s red-hot housing market fastest already own a home. In the 12 months through June, the number of people adding a fourth mortgage or more surged 7.7 per cent, more than doubling the increase for first-time borrowers.

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When the pandemic upended the lives of Canadians, many city dwellers fled to small, charming towns, while suburbanites traded their backyard swimming pools for lakeside cottages. This summer, some are taking stock of their lifestyles and surroundings once again.

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OPINION:  Realtors recommending the “Bank of mom and dad” sounds harmless and all-in-the-family, but the large-scale transfer of inter-generational wealth is a sign this country is reverting to the harsh class system that once dominated Britain, France and Russia.

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A recent study by housing market analyst Will Dunning found, for those who are able to secure a sufficient down payment, it is more financially beneficial to buy a home in Canada than to rent over the long term.

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