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Grosvenor's huge Mayfair West development gets new timeline
Grosvenor's huge Mayfair West dev. gets new timeline
A Vancouver council decision to approve new development timelines for Grosvenor to complete the massive Mayfair West housing development was driven by change in ownership and market realities, according to one of the company's senior executives.
Starlight acquires new, 12-storey GTA apartment building
Starlight Investments has acquired a newly constructed, 227-suite apartment building in the Greater Toronto Area city of Pickering as the investor continues to expand its Canadian multiresidential portfolio.
Alberta gov't fires AIMCo board and CEO, to ‘reset focus’
The Alberta government has removed the entire board of the Alberta Investment Management Corporation (AIMCo) citing ballooning costs. AIMCo CEO Evan Siddall, previously CEO of CMHC, and three other top executives are out according to finance minister Nate Horner.
Alberta to open Crown land for all-season resort dev.
In a bid to attract more all-season resorts to the province, the Alberta government is preparing legislation that would open up Crown land to resort developers, opening the door to possible future development in places like Kananaskis Country.
New 29-storey hotel proposed for Vancouver's West End
A 29-storey hotel could rise in downtown Vancouver potentially adding to the inventory of much-needed hotel rooms. Developer Marcon is proposing the hotel at a site occupied by Rosellen Suites at Stanley Park, a four-storey hotel built in 1959.
New renderings for Heather Lands by FN in Vancouver
The Heather Lands redevelopment of the former B.C. RCMP headquarters campus in Vancouver's Cambie Corridor, owned by the First Nations MST Development Corp., has taken another step forward with submission of applications for the first two phases of the project.
58,000 new homes in Vancouver's development pipeline
The final tally is now in for the number of net new homes built within the City of Vancouver’s jurisdiction during the first year of the provincial government’s legislated Housing Targets Order under the Housing Supply Act.
Vancouver airport reconsidering use of unfinished parkade
Travelling by car or SkyTrain to or from Vancouver International Airport, a partially built new parkade structure is impossible to miss. At a Vancouver event the CEO said the airport is planning a strategy for completion and revised uses.
30-acre Surrey site to be used to fabricate SkyTrain segments
Although this major vacant industrial site in Campbell Heights is 10 kilometres from Fraser Highway, it will play a critical role in the construction of the Surrey-Langley SkyTrain extension.
ETRO becoming 'go to' company for B.C.'s big projects
ETRO Construction is making its mark by winning some of B.C.'s biggest projects — like BC Place’s upcoming renovation. The Burnaby-based company will do around $200M in revenue this year and plans to move into a new Vancouver space.
Sifton Properties to convert offices to homes in London
The City of London announced Sifton Properties Limited will receive $3.29 million to convert office space at 195 Dufferin Ave. into 94 residential units, the second office-to-residential conversion to receive funding through its Office-to-Residential CIP Incentive Program.
Plans filed for CreateTO's 40-storey Merton Street project
Building plans have been submitted for a midtown rental development to be constructed on City of Toronto-owned land by CreateTO. The 40-storey mixed-use development would deliver 494 purpose-built rentals, 30 per cent of which would be affordable.
82 more rental units added to Kelowna development
There has been a change to plans around the Ledge on Lakeshore development on the former Hiawatha Mobile Home Park site. The change will see the three towers rise to 12, 12 and 17 storeys, adding 82 units.
Rent prices decline year-over-year for first time since 2021
A new report says average asking rents declined across Canada on a year-over-year basis for the first time in over three years. The report from Rentals.ca and Urbanation found average asking rents sat at $2,152 in October.
Royop honours leaders who built up development business
Royop held a huge celebration recently to honour the retirement of Harvey Thal, Brian Kowall and Melvin Foht, who built the company into such a successful development business — yet they haven’t really left.
Harrison Street sells nearly $900M of U.S. student housing
Harrison Street sold nearly US$900 million of student housing properties to investors including the Scion Group. The portfolio totals more than 8,700 beds at schools including University of Arkansas, Texas A&M University and the University of Missouri.
Blackstone to pay $4B for west coast shopping centre REIT
Blackstone is expanding its presence in the U.S. shopping centre sector with the US$4B purchase of Retail Opportunity Investments Corp., a San Diego-based REIT that owns 93 grocery-anchored properties in major California cities and Seattle.
CoreWeave prepares for IPO after $10B Microsoft deal
New-Jersey-based artificial intelligence cloud startup CoreWeave is continuing to rapidly grow its data centre footprint and bring in more money ahead of an expected initial public offering filing next month.
Trump victory elicits fear In D.C’s downtrodden CRE industry
The change in power following this week's U.S. election could have long-lasting implications on the nation’s capital and the surrounding region. The federal government is D.C.’s largest office occupier and employer, and it draws ancillary demand from other sectors.
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