Data tracks 60 years of change in Cdn. housing sector

RENX  Residential  •  Condominiums, Apartments, Homes  •  National

Housing starts in Canada averaged 201,000 a year during the past decade — mirroring the 2000s and tied for the second-best on record after the 1970s — according to an Altus Group report. Housing starts ranged from about 188,000 in 2013 to almost 220,000 in 2017.

WSP, Altus to join forces on geomatics firm

Commercial  •  Globe Newswire

WSP Global (WSP-T) and Altus Group (AIF-T) announced they have agreed, subject to definitive documentation, to combine their respective geomatics business units. The combined entity will be comprised of approximately 750 employees, with offices in Western Canada and Ontario.

Feds driving trends in Ottawa office market: Reports

Commercial  •  Ottawa Business Journal

With the dust settled on the 2019 federal election, commercial real estate watchers are keeping a close eye on how Public Services and Procurement Canada will shape Ottawa’s office market in 2020. Colliers and CBRE painted slightly different pictures of the market.

Downtown Van. office vacancy rate lowest in 11 years

Commercial  •  Daily Hive

New office supply built in the region is unable to keep up with soaring demand, and this is clearly evident in a new market report by CBRE indicating there is an 11-year vacancy low in the downtown Vancouver office market.

Top 10 largest construction project starts in Canada

Residential, Commercial  •  Daily Commercial News

The accompanying table records the 10 largest construction project starts in Canada in December 2019. Also included is the latest trend graph on starts. This looks at 12-month moving totals of the civil and non-residential building categories in Canada.

Deal cut to repay some Hi-Rise syndicated mortgages

Residential  •  Globe and Mail (Sub. required)

A deal has been struck to partially repay 654 investors in a mortgage registered to a failed downtown Toronto condominium. The deal impacts only one group of investors who placed their trust in construction development mortgages fashioned by Toronto-based Hi-Rise Capital.

Real Estate Wealth Insights › Active vs. passive investing: Which is a better fit for you?

Greg Placidi: Chief Investment Officer & Portfolio Manager, Equiton Capital

Edmonton moving to scrap minimum parking requirements

Residential, Commercial  •  Edmonton Journal

Edmontonians may soon see a reduction in the number of parking stalls at their local shops with the removal of minimum on-site parking requirements. The city is forging ahead with a move to open option parking for homeowners and businesses.

U.S. fintech Tipalti opening Vancouver office

Commercial  •  Business In Vancouver  •  Business In Vancouver

Talent continues to be in high demand with another American tech company entering Vancouver to hire workers. Tipalti Inc. plans to build up a roster of more than 50 employees for a new downtown office set to launch Feb. 1.

Carlton Cards, Papyrus shuttering 76 Canadian stores

Commercial  •  CTV

Schurman Retail Group, the owner of greeting card retailers including Carlton Cards and Papyrus, is closing all of its stores in North America, including 76 Canadian locations. Most of the closures will take place over the next four to six weeks.

Overhauled Méga Parc Amusement Centre marks 1 year

Commercial  •  Retail Insider  •  RENX

Les Galeries de la Capitale, a 1.5 million-square-foot shopping complex in Quebec City owned by Oxford Properties, recently celebrated one year of re-opening its Méga Parc, which attracted more than two million visitors following a $52-million redevelopment.

High taxes a major problem: Montreal hearings

Commercial  •  Montreal Gazette

When it comes to retail space, Montreal is in a peculiar situation, notes Michel Leblanc, president of the Board of Trade of Greater Montreal. Its economy is booming, unemployment rates are low and retail stores have been faring well.

Calgary spends $30M on property tax rebates

Commercial  •  Calgary Herald  •  CBC  •  Calgary Herald

Council must fund another year of property tax rebates in 2020 to avoid having business owners storm the steps of city hall again, Mayor Naheed Nenshi said Tuesday before a proposal passed to spend $30 million on rebates for businesses.

Darwin seeks more units for West Vancouver tower

Residential  •  Business In Vancouver

Darwin Properties is seeking to add 35 more units to an already approved but not-yet-built tower project in the District of West Vancouver, bordering the District of North Vancouver. The earlier successful rezoning included 141 units in a 26-storey tower.

Don’t tear down St. Lawrence Centre: Opinion

Commercial  •  Globe and Mail (Sub. required)

In the 1960s, the federal government built Centennial Projects in cities across the country. Toronto’s St. Lawrence Centre for the Arts opened in 1970. TO Live, the city’s theatre agency, has a scheme to replace it with a new centre.

Regina permits take 8 times as long as Saskatoon

Residential, Commercial  •  CBC

A new report by Regina administration looks at how the city can improve its building permit process, which can take more than eight times longer – 43 days compared to five – than Saskatoon’s on average.

772-unit subdivision proposed for Guelph

Residential, Commercial  •  GuelphToday

A numbered company has filed an application with the City of Guelph to build 772 townhouse and apartment units, a park, urban square, stormwater management facility and retail on the former Lafarge lands, which total 41 acres.

Desjardins acquires La Capitale mortgage portfolio

Residential  •  Canada Newswire

Desjardins Group announced it is acquiring the mortgage portfolio of La Capitale. The transaction, which will see 6,376 mortgages transferred to Desjardins, will close on Feb. 1.

New West offers $4M in free land for affordable housing

Residential  •  CBC

The City of New Westminster is requesting proposals for an affordable housing project on Fenton Street. The successful bidder will get the four plots of land worth around $4 million “at no charge.”

Moncton hopes new bylaw prompts development

Residential, Commercial  •  CBC

Moncton approved a new bylaw Monday the city hopes will help kick-start development in hard to access parts of the city that needs new, and costly infrastructure. The new Development Charge Bylaw sets out mechanisms to pay for new infrastructure.