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Townline adapts to 'frozen' market, but continues developing

13 hours ago

Townline adapts to 'frozen' market, continues developing

Nearly two years ago, the leadership team at Townline set a plan to maintain its pipeline of development projects amidst a period of challenging market and economic conditions in British Columbia. 

Crestpoint acquires 24-property portfolio of retail, office

UPDATED: A Crestpoint Real Estate Investments fund has acquired a portfolio of two office buildings and 22 retail properties comprising approximately 1.35M square feet of space. Meanwhile, vendor H&R REIT has provided a significant update on its portolio.

Forum fights $15.5M in DCCs for student housing project

Should a for-profit student residence leasing University of Guelph land receive the same fee exemptions from the city as an on-campus project, leaving city taxpayers to foot the bill? That’s the question put to the Ontario Land Tribunal this week.

British developer Grosvenor doubles down on Vancouver

OPINION: British developer Grosvenor has been selectively building in B.C. for more than 70 years, beginning with the industrial park on Annacis Island and in more recent years, the downtown luxury tower The Pacific. 

Hullmark buys Spadina Road retail property for $21.7M

Toronto-based developer Hullmark recently acquired the retail complex at 446 Spadina Rd. in the Forest Hill Village neighbourhood, continuing to add to its portfolio of assets. The mixed-use building is fully leased,

Killam completes $29.6M, 109-unit acquisition in Halifax

Killam Apartment REIT (KMP-UN-T) has completed its acquisition of Forrest Green Apartments, a 13-storey, 109-suite apartment building located in the Clayton Park neighbourhood of Halifax. The acquisition closed on January 27, for a gross purchase price of $29.6M. 

Virtus Diversified REIT expands Northern Ontario portfolio

Virtus Capital Corporation, the asset manager for Virtus Diversified REIT, has announced the strategic acquisition of a multifamily residential property with 23 residential units, located at 38-52 Pearl St. in Sudbury for $3.3 million.

Canada’s most livable cities

For the past few years, The Globe and Mail has ranked Canada’s Most Livable Cities. Our goal was to move beyond the typical discussion of housing prices and real estate and ask: What actually makes a place good to live?

Ontario town offers funds for new housing development

The Municipality of Lakeshore is offering up to $80,000 in funds to incentivize developers and individuals to build missing middle housing, joining other municipal governments in moves to increase supply.

40-storey tower proposed to replace Midtown lowrises

In Midtown Toronto, plans call for a 40-storey residential tower designed by Studio JCI for Zucker (Duplex Holding) that would replace two existing three-storey rental apartment buildings. The site is north of Eglinton station.

London looks to spur development of contaminated lots

London's Planning and Environment Committee wants to know how much municipal money is tied up in unused grants that help developers clean up contaminated lands, and is looking at possible ways to make sure developers either use it or lose it. 

588-unit proposal to be discussed at public meeting in Ajax

Ajax residents will get a long look at a seven-building, 588-unit development planned for the Salem Road and Rossland area at a public meeting on February 17. 

Serverfarm to expand Toronto data centre

Serverfarm has confirmed the closure of a US$3B credit facility to fund its hyperscale data centre expansion across North America. The developer, backed by Manulife Investment Management, plans to add 4MW of capacity to its existing Toronto site. 

Carrier Connect acquires data centre assets in N.B.

Carrier Connect is acquiring data centre assets owned and operated by managed services provider Carbon60 in New Brunswick. The acquired facility totals 500kW across three data halls, fully built out and serving more than 20 customers.

Industrial warehouse development proposal in Brampton

A more than 37,000-sq.-ft. two-storey industrial warehouse with office space on both floors is being proposed in northeast Brampton. The city is reviewing an application by Fotenn Planning Design on behalf of 2832948 Ontario Inc.

Brookfield secures $435M for Virgina retail centre

Brookfield Asset Management has secured a US$435 million fixed-rate commercial mortgage loan for Tysons Galleria, a 740,847-square-foot super regional mall in McLean, Va. Completed in 1988, Tysons Galleria is a three-storey property spanning a 24-acre site.

BDT & MSD near $1B deal, includes Disney Four Seasons

BDT & MSD Partners is close to acquiring a Four Seasons resort in Orlando from Host Hotels & Resorts Inc. in a rare deal for a hotel located on a Walt Disney Co. property. 

How powered land plugs CRE into the data centre boom

Data centre developers are increasingly running up against a growing tide of community and legislative pushback. But major CRE companies are investing now to safeguard possibilities for development later. 

ICE begins buying ‘mega’ warehouse detention centres

Despite protests in small towns and cities, the Trump administration is pushing ahead with the purchase of warehouses it plans to convert into immigration jails in what could be the largest expansion of such detention capacity in U.S. history.

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