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$90M in renovations coming to Calgary's Suncor Energy Centre

1 week ago

$90M in renovations for Calgary's Suncor Energy Centre

Calgary's downtown Suncor Energy Centre office complex is set for $90-million in renovations and upgrades, including a new performing arts centre and a food hall, to reposition the property into a mixed-use destination.

GWLRA looks at immigration policies and real estate

Updated Canadian government policies to reduce new non-permanent residents and lower new permanent immigration over the next few years shouldn’t have a major impact on the Canadian real estate industry, according to a report from GWL Realty Advisors.

BoC expected to deliver big cut, despite currency concerns

The Bank of Canada is expected to deliver another oversized interest-rate cut on Wednesday, although policy makers will have to weigh the need for economic stimulus against the risk of a weaker loonie.

Ottawa pledges up to $240M for Cohere to build data centre

The federal government will provide up to $240-million to help Toronto artificial intelligence company Cohere and its partners build a multibillion-dollar data centre in Canada that will power AI models and applications.

Hudson’s Bay selling junk bonds to finance Neiman deal

Hudson’s Bay Co., the owner of luxury retailer Saks Fifth Avenue Inc., is tapping the junk-bond market to help finance its acquisition of Neiman Marcus Group. The $2.8 billion, five-year bond was reportedly launched on Monday.

3 months after opening, Royalmount quieter than expected

Royalmount's grand opening in September attracted its share of curious onlookers, but three months later, retailers admit they were expecting more "madness," while many employees expected to serve more customers.

New shopping centre in the works for Edmonton

A new shopping centre coming to Edmonton's outskirts is set to bring approximately 85,000 square feet of retail space. Led by EVER Real Estate Developments, it will include 10 buildings, including a 34,500-sq.-ft. grocery or big-box store.

Toronto names former Hamilton official its new planning chief

Toronto has a brand-new planning chief, as city hall announced former Hamilton planning manager and consultant Jason Thorne will be handed the reins to an ever-growing and changing metropolis.

R2 Capital acquires office building in Saint John

R2 Capital has acquired Place 400, a 160,000-sq.-ft. office building in Saint John, N.B. Purchased at $17.50 per sq. ft. — well below replacement cost — the investment highlights R2 Capital's confidence in the city's office market.

New office building approved in Olds

Olds council approved a development permit for a proposed office building on a lot just west of Cam Clark Ford at 52nd Avenue. The approximately 5,061 square-foot, two-storey building is proposed for local chartered accountant Krystal Stoutenberg.

Plan set for northeast Olds commercial, industrial land

Olds town council has approved an area structure plan (ASP) for a big chunk of land on the northeast side of Olds. The 655-acre chunk will have commercial developments along the nearby highways and industrial properties in the interior.

Van. developer pays $8.5M for 99-year school site lease

The Vancouver School Board has awarded a 99-year, $8.5-million lease to Vittori Developments, which plans a mixed-use commercial and rental building on a former school property.

Vaughan slashed dev. fees, other GTA cities need to follow

OPINION - Following a move to cut development charges in Vaughan by up to 47 per cent, mayor Steven Del Duca proclaimed “development charges are an unfair tax on new home buyers” and urged other GTA municipalities to follow suit.

Inside the battle between Peterson and Create Properties

With the Burnaby Lake Village project being placed under creditor protection last week at the request of the lender, what had been a private conflict between Peterson Group and Create Properties has now been pushed into the public eye.

$417M Toronto hotel, ent. project delayed 7 more years

Hotel X opened for operations in 2018, but over six years since the 27-storey tower welcomed its first guests, a planned second tower and attached entertainment remain unbuilt — and it will stay that way for seven years to come.

Proposed tariffs reflected in Prologis downgrade at BMO Capital

Investment bank BMO downgraded industrial REIT Prologis, one of the world’s largest logistics facilities owners, amid slowing demand for industrial space and the potential impact of tariffs proposed by president-elect Donald Trump.

Hudson Valley Property Group acquires 22-property portfolio

Hudson Valley Property Group (HVPG), a national affordable housing preservation company, has acquired a 22-property portfolio comprising 4,768 units across the western United States. The move expands HVPG's reach to 87 communities with 15,414 units.

Brookfield seeks extension for $505M New England mall loan

A US$505M loan tied to New England's largest mall has been transferred to special servicing after the owner ran into issues maintaining some retail tenants. Owner Brookfield Properties faced issues with the loan after losing a major tenant.

Barnes & Noble CEO on the race for space as store demand grows

In a sign of just how much the retail world has changed, one of the biggest challenges facing Barnes & Noble CEO James Daunt is competing for store space with other expansionist U.S. retailers.

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