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Recent Articles

Development rush in Halifax as new Centre Plan looms

5 years ago

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Halifax Regional Municipality’s decision to create a “Centre Plan” to update development regulations sparked a slew of applications which would see almost 20 new buildings containing hundreds of apartments and housing units, commercial and public spaces.

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The Rose Corporation is best known as a developer and operator of purpose-built rental properties, but it is also about to launch the first major new condominium development in Newmarket in more than 30 years.

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Housing in Canada is in “well-balanced territory” after a government tightening of mortgage-lending rules intended to cool a market that had become overheated, Royal Bank of Canada chief executive officer Dave McKay said.

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Calgary-based West Coast Olefins intends to build a $5.6-billion petrochemical plant on Prince George, B.C.’s BCR Industrial Site. CEO Ken James said the facility could be up and running by the end of 2023 on a 300-acre parcel of land.

Romspen Commercial Lender

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Small town life has been good to Tyler Martin, a mountain-biking enthusiast and former urban dweller who now commutes to Vancouver from his new home in Squamish, B.C. He and his wife, Emily, are part of a growing trend.

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Vancouver’s regional mayors voted, some grudgingly, to go ahead with a plan to build only the first, seven-kilometre phase of a SkyTrain line from Surrey to Langley, using the $1.63 billion that had previously been committed for more extensive light-rail lines.

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At a time when Sino-Canadian diplomatic tensions run high, China’s largest gold miner, Shandong Gold Group Co., gathered several dozen bankers, lawyers, local mining executives and media at a downtown Toronto hotel to celebrate the company’s new Bay Street office.

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At last week’s Toronto Design Review Panel, during a joint session with the University of Toronto Design Review Committee, the Centre for Civilizations, Cultures, and Cities (CCC) made its first appearance in front of the experts.

CMLS Commercial Mortgage Commentary

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David Caplan, a familiar face to Ontario construction stakeholders, long considered an infrastructure champion, has died. Ontario Premier Doug Ford reported Caplan’s passing in a tweet on Thursday.

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A Cape Breton golf resort that underwent millions in renovations is operating under a new name. Ben Eoin Development Group purchased the financially troubled Lakes Golf Course, as well as the neighbouring Birches at Ben Eoin Country Inn last year.

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George Weston Ltd.’s (WN-T) second-quarter profit jumped to $184 million, up from $28 million last year, as it benefited from acquiring direct ownership of a controlling stake in Choice Properties (CHP.UN-T) from its subsidiary.

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The special committee of Hudson’s Bay Co.’s (HBC-T) board examining a $1-billion privatization bid led by the retailer’s chairman has invited other shareholders to talk about the contentious proposal as well as any alternatives.

Harbour Equity

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The overall market for public storage and warehouse facilities is projected to rise to over $28 billion in the next four years. WPT Industrial REIT  (WIR-U-T) is well-positioned to profit from this explosive growth.

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Starbucks Corp (SBUX-Q) attracted more customers in the latest quarter on an expanded line up of beverages and food offerings in the United States and China, leading the coffee chain to raise its fiscal 2019 profit forecast.

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Amazon’s cloud computing business will occupy an entire office building measuring nearly 270,000 square feet in Northern Virginia, roughly 21 miles west of the company’s planned second headquarters campus in Arlington.

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Blackstone (BX-N) is selling a portfolio of more than 4,500 apartments in 10 Japanese cities in an offering tipped to fetch up to $1.5 billion US. The vendor is calling for expressions of interest through its advisers, JLL and Mizuho Trust & Banking.

Canadian Apartment Investment Conference

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For the first time, politicians for Edmonton, its bedroom communities and surrounding counties have pitched a formal growth boundary that would set an official limit for one of the most rapidly spreading city regions in the Canadian Prairies.

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Sales of new construction homes rose significantly in June year-over-year while home prices remained flat, with the market and industry continuing to adjust to the mortgage stress test that pushed some consumers out of the market since its January 2018 introduction.

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There is a severe disconnect between B.C. housing starts – which are up 18% through 2019’s first six months – and the resale housing market, where sales are sluggish and prices are declining, particularly in Metro Vancouver.

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