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Vancouver office space shortage could occur sooner than you think
Van. office space shortage could occur sooner than you think
What’s one of the biggest threats facing Vancouver’s office market? In a few years, the market could return to critically low vacancy, especially in the city’s stock of class-AAA inventory, according to Mark Trepp, executive vice-president of JLL in Vancouver.
Bonnis cancels 17-storey Vancouver CRE building
Bonnis Properties is no longer moving forward with the redevelopment of 800-876 Granville St., which would have seen a new commercial building reaching 17 storeys, due to its office component no longer being viable.
 | The People Space Board comings, goings at Killam, CDPQ, Altus...Don WilcoxManaging Editor, RENX |
Unrest in CRE has settled, IMCO CEO hopes
Investment Management Corporation of Ontario (IMCO) CEO Bert Clark says he is hopeful the turmoil in commercial real estate has bottomed out after losses on investments in the sector dragged down otherwise solid performance from the pension-fund manager last year.
Laurentian Bank sells retail brokerage to iA Financial Group
Laurentian Bank of Canada (LB-T) is exiting the retail brokerage business with the sale of $2 billion of assets under administration to Montreal-based financial services giant iA Financial Group (IAG-T).
Reserve, Westdale's proposed 99-storey tower moves forward
Toronto city council adopted a settlement offer in late March that pushes plans forward for Reserve Properties' and Westdale Properties' flagship 99-storey condo tower at 19 Bloor St. W. The Arcadis-designed tower would comprise nearly 1,300 condo units.
Choice's mixed-use resubmission doubles height
Choice Properties REIT has doubled the heights of a mixed-use resubmission at 985 Woodbine Ave. to 10 and 35 storeys, respectively. The superkül-designed complex would comprise 646 affordable rental/condo units and 22,593 square feet of retail.
Most downtown Edmonton surface parking lots must go
Katz Group can keep its parking lots north of Rogers Place for five more years, city council decided this week, but Edmonton will crack down on property owners who have more than 100 illegal surface lots around downtown.
nidus3D builds N. America’s first 3D-printed 3-storey building
nidus3D, a Kingston, Ont.-based company which constructs buildings via 3D printing, says it has set a new milestone with North America’s first three-storey residential building. The four-unit dwelling also includes a 3D-printed basement.
WestUrban's The Magdalena rental complex reopens
WestUrban Developments Ltd., announced the successful completion of remediation and retrofitting work at The Magdalena, a 64-unit rental community located in Duncan, B.C. The renovations include structural enhancements and modernization of common areas.
$1.5B rental protection fund long overdue: Advocates
The federal government's creation of a $1.5-billion rental protection fund is long overdue, affordable housing groups say, because the country is losing lower-cost rental properties – to renovictions, tenant turnover and demolitions – far faster than it can build them.
Ontario commits $1.3B to build or expand 60 schools
Ontario is spending $1.3 billion to build or expand 60 schools across the province, including a number in the Greater Toronto Area, Education Minister Stephen Lecce announced Thursday. The funding was included in the government’s 2024 budget.
Dollarama reports 24% profit boost in Q4
Dollarama Inc. (DOL-T) reported a 24 per cent increase in profit in the fourth quarter, as Canadians feeling the sting of inflation continue to visit discount retailers to purchase everyday needs such as food, cleaning products, and personal care items.
Down year for Canadian Tire, no bonuses for executives
Canadian Tire Corp. Ltd. (CTC-T) gave its top executives no cash bonuses for 2023 – a rarity in corporate Canada – as consumers pulled back on discretionary purchases and the retailer’s results came in well below expectations.
Can Vancouver's Chinatown survive revitalization?
CITY SPACE PODCAST: How did Canada's largest Chinatown come to be?
Real estate podcasts
Jonathan Gitlin, RioCan REIT: How to stay ahead in today’s market, CRE Podcast
Jen Tindle, AllAboutCRE.com: CRE and CRE technology, Tenant Experience Network
Bernard Leblanc, La Maison Simons: Paying homage to Halifax’s maritime heritage, The Interview Series
Oaktree funds JV on Park Hyatt Zurich acquisition
A joint partnership among Trinity Investments, funds managed by Oaktree Capital Management and funds managed by UBS Asset Management’s Real Estate & Private Markets Multi-Managers has acquired Park Hyatt Zurich, a 138-key luxury hotel with ancillary office and parking elements.
CRE lenders turn to insurance industry for funding
As traditional bank lending remains depressed amid high interest rates, some commercial real estate lenders are turning to another source of fresh capital — insurance companies.
Pressure grows to cut federal office space faster
While the effects of the pandemic on private sector office usage have become increasingly clear, the fate of millions of square feet of federal office space is an unanswered question worth billions of U.S. taxpayer dollars.
China’s correction may only be halfway done: KKR
China’s real estate troubles are likely far from over and industry problems need to be addressed quickly if overall GDP growth is to pick up significantly, according to a report released Thursday by global investment firm KKR.
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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