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Recent Articles

Brivia launching Vancouver, Montreal developments

2 years ago

RENX   •   • 

Brivia Group has launched the second phase of its $1.2 billion 1 Square Phillips development in downtown Montreal and hopes to launch what it says will be the world’s tallest Passive House building this fall in downtown Vancouver’s West End.

RENX   •   • 

Boardwalk REIT (BEI-UN-T) has acquired two multiresidential properties, in Canmore, Alta., and Brampton in the Greater Toronto Area, adding 300 rentals to its portfolio for a combined price of $117.5 million.

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Ontario says it will provide a $40-million loan to the Centre for Commercialization of Regenerative Medicine for its planned $580-million Hamilton facility where life-science companies can develop and commercialize cell and gene therapies.

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Burnaby has released a proposed master plan for the Edmonds neighbourhood that could see five towers with as many as 2,818 new homes. Burnaby is looking to partner with BC Housing on four properties slated for redevelopment.

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Fundraising charity VGH & UBC Hospital Foundation has entered the real estate investment market, acquiring a 1.4-acre Vancouver property for $100 million. The site comprises the 14-storey, 207-bed long-term care facility Windermere Care Centre and a three-storey, 26-unit rental apartment building.

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The Fraser Valley Regional District has approved an official community plan for the Hemlock Valley, which lays out a 15- to 20-year $1.5 billion growth plan for Sasquatch Mountain Resort near Harrison, B.C.

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B.C. is making changes that would allow for the purchase of land along transportation hubs for housing, schools, commercial services and other mixed-use development. Currently, the BC Transportation Financing Authority is only able to buy land for transportation projects.

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Dream Residential REIT has filed, and obtained a receipt for, a preliminary long-form prospectus from the securities regulatory authorities in each of the provinces in Canada in connection with the proposed initial public offering of units of the REIT.

CMLS

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They fled the Nazis and then built a real estate empire that transformed Toronto skylines. However, ever since the Reichmanns’ commercial real estate business went broke, their legacy has been marred by a web of increasingly complex and bizarre lawsuits.

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Suncor dragged Quebec to court and scorched the Caisse de dépôt et placement du Québec and the Société de transport de Montréal in the process over the expropriation of three of its gas stations on the island of Montreal.

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BTB REIT (BTB-UN-T) has acquired an industrial property at 1100 Algoma Rd. in Ottawa. The property, 100 per cent leased to Ontario Medical Supply, was acquired for $12.5 million, houses 46,400 square feet of leasable area and is well-located in Saint-Laurent industrial park.

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A downtown office building designed by Green Blankstein Russell and Associates, one of Winnipeg’s most prominent architecture firms, is listed at $2.4 million. The two-storey building has two 4,500-square-foot spaces and one 1,500-square-foot space available to lease for $14 per square foot.

Aeropark Boulevard

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Pace Canada, a U.K. company specializing in green energy, is moving its corporate Canadian headquarters from B.C. to Calgary. Pace has two solar projects in development in the province — a 47-megawatt project and an eight-megawatt project.

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Visual effects company Wētā FX is headed to Vancouver, launching its first satellite studio outside of Wellington, New Zealand. The company’s first step: to hire 75 employees, with plans to add more down the road.

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Ingenium, the Crown corporation that oversees three national museums in Ottawa, has just launched a new program where. corporate partners are given access to the museums’ spaces to hold collaborative meetings, off-site retreats, team-building sessions or industry conferences.

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There are several reasons for highlighting upcoming large projects. Such jobs have often received a fair amount of media coverage. Therefore, people in the industry are on the lookout for when job-site work actually gets underway.

Romspen

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The Quebec Professional Association of Real Estate Brokers says last month’s Montreal home prices crept up by an average 17 per cent from last year as sales fell by almost 10 per cent.

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Much of the urgency in the Ontario market in April appears to be coming from the sellers. In the Greater Golden Horseshoe, the zone that curves around Toronto, listings are rising ahead of the upcoming Easter and Passover holidays.

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The average price of a home in Ottawa rose to $853,615 last month, another record as low inventory continues to drive prices higher. That represents a 13 per cent increase year-over-year and is $16,000 higher than February, says the Ottawa Real Estate Board.

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Saskatoon lawyer Mike Russell says he didn’t know what he would find when he first started looking into Epic Alliance Real Estate Inc. which went belly up in January — but he quickly became “concerned.”

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