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Recent Articles

Graywood joins KingSett to develop midtown T.O. tower

2 years ago

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Graywood Developments has added another high-rise development site to its pipeline, acquiring an interest in 29-39 Pleasant Blvd. The property near Toronto’s Yonge St. and St. Clair Ave. is slated for a 35-storey condo in partnership with a KingSett Capital fund.

RENX   •   • 

Becoming the largest industrial owner in Quebec City almost overnight has been a “pleasantly surprising” experience for  Pure Industrial, says Charlie Deeks, the company’s chief investment officer.

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Three Sisters Mountain Village Properties Ltd. says the Land and Property Rights Tribunal of Alberta’s ruling in favour of two projects, rejected by the Town of Canmore over environmental concerns, paves the way forward following three decades of wrangling.

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In the latest plans, CKF Rail Development Limited Partnership plans to build 11 towers from 12 to 70 storeys, more than 5,750 residential units and retail space at Rail Deck Park site, a roughly 20-acre plot that divides the heart of downtown Toronto.

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The Fonds immobilier de solidarité FTQ is teaming up with Immeubles Must Urbain on Le Wellington at 81-83 Wellington Sud., in Sherbrooke, Que. The seven-storey development will consist of 68 apartments and 2,300 square feet of commercial space with completion slated for spring 2023.

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Morin Heights, a small town in Quebec’s Laurentians, approved an interim bylaw to temporarily halt certain forms of development and give itself time to rewrite its urban-planning bylaws and reframe development. Nearby Sainte-Anne-des-Lacs has responded in a similar way.

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The Montreal suburb of Saint-Bruno-de-Montarville, in Montérégie, has moved to preserve its single-family character. On Tuesday evening, elected officials adopted an amendment to the zoning bylaw to limit the height of new buildings in the city centres to two storeys.

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Multi-storey industrial buildings, though still rare, are winning converts as prime land becomes scarce in hot markets. However, they also are a boost to corporate sustainability goals and growing local government interest in environmentally friendly, compact building forms.

CMLS

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Business bankruptcies in Canada moved closer to pre-pandemic levels in the first quarter of 2022, jumping almost 34 per cent year-over-year in what some experts warn could be the start of a growing wave of failures.

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Simons confirmed that it will open a new location in Nova Scotia’s capital city. Located in the Halifax Shopping Centre, the largest shopping centre in the Maritimes, the 17th Simons store will open in the spring of 2024.

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Menswear disruptor Psycho Bunny is accelerating its North American expansion with the opening of four locations in Canada this year – CF Toronto Eaton Centre, Toronto Premium Outlets, Yorkdale Shopping Centre and CF Carrefour Laval in the Montreal area.

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Extendicare (EXE-T), Sienna Senior Living (SIA-T) and Chartwell Retirement Residences (CSH-UN-T) CEOs all made more in 2021 than in 2020. All firms have had deaths among their long-term care residents and have seen widespread illness among their staffs during the health crisis.

Aeropark Boulevard

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Ontario Teachers’ Pension Plan Board is considering opening an office in India as part of its expansion into emerging markets. The $242-billion fund could open an office in the subcontinent as soon as next year, CEO Jo Taylor says.

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Apollo Global Management Inc. is planning to lend about $1 billion to developers in India this year, betting on a recovery in the residential property market as the pandemic eases.

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Link REIT has agreed to purchase a portfolio of three warehouses in the Yangtze River Delta for $179 million Cdn as Asia Pacific’s largest listed trust returns to mainland China for its second-ever logistics acquisition.

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Flagship Communities REIT (MHC-U-T) will acquire two manufactured housing communities in Florence, Ky., for a purchase price of approximately US$22.5 million. The communities are about 70 per cent occupied.

Colliers Capital Markets

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10Block Studio has proposed a 17-storey luxury condo building at 65 George St. in Toronto’s Old Town area. The Core Architects-designed building would include only 16 residential units – one unit per floor – on 2,691-square-foot floor plates.

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Canada’s housing downturn will act as a headwind to economic growth this year. This follows a period when real estate powered the economic recovery from COVID-19, but was characterized by fervent speculation and worsening affordability amid ultra-low interest rates.

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Metro Vancouver home prices are falling, according to Oakwyn Realty broker Steve Saretsky. He is seeing homes in areas such as Coquitlam’s Westwood Plateau selling for 15 per cent less than similar neighbouring houses a few months ago.

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Metro Vancouver’s housing committee says its $100-million, 10-year plan to build affordable housing has been hit by dramatically rising construction costs over the past two years. Since January 2020, there has been an annual increase of 15 per cent in construction costs.

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