Smaller cities tempt boomers, millennials: Phil Soper

RENX  Residential  •  Homes, Human Resources  •  National

Both millennials and baby boomers would consider moving from major cities to secondary cities across the country as housing costs escalate, says Phil Soper, president and CEO of brokerage Royal LePage and its parent company Bridgemarq Real Estate Services (BRE-T).

Calgary, Edmonton CRE investment rises during 2018: Altus

RENX  Residential, Commercial  •  Hotels and Resorts, Office, Apartments, Land, Industrial, Investment, Retail  •  Calgary, Edmonton

CRE investment activity improved in Calgary and Edmonton last year, but economic uncertainty remains in both cities. “People are waiting and seeing,” said Altus Group manager Ben Atterton, who compiled Q$ and year-end transaction statistics for the Alberta cities.

Office towers to reshape Toronto and Vancouver

Commercial  •  Globe and Mail

In Vancouver and Toronto, the centre is getting stronger. A pair of development companies are planning office towers that will reshape the downtowns of those two cities – and, with architecture by Bjarke Ingels Group, mixes up office space with infrastructure.

Marriott to open 1,700 hotels by 2021

Commercial  •  Reuters

Hotel chain Marriott International, Inc.. on Monday mapped out a three-year plan to open more than 1,700 hotels around the world, return up to $11 billion to shareholders and make a full-year profit of as much as $8.50 per share by 2021.

Value: Weighed and Measured › Do we accurately gauge economic cost of long commutes?

John Clark: Vice President , The Regional Group of Companies Inc

Farhi transforming former GM Trim’s Windsor property

Commercial  •  Windsor Star

London-based developer Farhi Holdings is moving forward with a plan to transform the 60-acre former GM Trim property from an industrial wasteland into an ambitious $59-million project comprised of 387 homes, a hotel and commercial space.

Oakville’s bill for Glen Abbey fight approaching $9M

Commercial  •  Toronto Star

The Town of Oakville has now spent almost $9 million on consultants and lawyers in its fight to preserve the Glen Abbey Golf Club, according to a Freedom of Information Act request filed by a local resident.

Vancouver to review Pacific Centre entrance plan

Commercial  •  Vancouver Courier

Cadillac Fairview’s plan to develop a two-storey pavilion building to replace the existing Pacific Centre Mall rotunda is among projects that go before the Urban Design Panel on March 20. It’s the UDP’s second review of the project.

Ontario unveils 10-year, $30B infrastructure plan

Commercial  •  Construction Canada

The Ontario government has announced a 10-year, $30-billion infrastructure funding program under the multi-party Canada Infrastructure Program. The funding will cover four streams: Rural and Northern; Public Transit; Green; and Community, Culture and Recreation.

Timbercreek launches second Irish property fund

Commercial  •  Globe and Mail (Subscription required)

Canadian real estate fund Timbercreek Asset Management is launching its second Irish property fund to take advantage of the Brexit chaos, which is driving companies out of the United Kingdom and into cities such as Dublin.

PSP, QuadReal join Unibail on London PRS scheme

Commercial  •  IPE Real Assets

Unibail-Rodamco-Westfield has partnered with Canadian institutions Public Sector Pension Investment Board and QuadReal Property Group to develop a Cdn$1.14 billion London private rented sector (PRS) scheme. PSP Investments and QuadReal will each take a 37.5 per cent share in the partnership,

Understanding Brookfield-Oaktree $500B colossus

Commercial  •  Globe and Mail (Subscription required)

Brookfield Asset Management Inc. is spending nearly US$5-billion to buy 62 per cent of Oaktree Capital Group LLC. Don’t necessarily call it a “controlling” stake, however, with Brookfield taking just two of 10 Oaktree board seats.

Vancouver apartment parking stalls underused

Residential  •  Western Investor

The recent Parking Facility Survey and Household Survey by Metro Vancouver and TransLink found in strata apartment buildings, parking supply exceeds use by 42 per cent; and in mixed-tenure apartment buildings, parking supply exceeds use by 41 per cent.

Cricket Property Management adds Toronto location

Commercial  •  Globe Newswire

Cricket Property Management is expanding its reach with a new location in Toronto. This will enable the company to directly service landlord and tenant clients in the GTA and support property management franchisees throughout Ontario and Eastern Canada.

Ottawa Board of Trade unhappy with LeBreton Flats plan

Commercial  •  Ottawa Business Journal  •  Ottawa Citizen

The Ottawa Board of Trade is urging the National Capital Commission to return to the negotiating table with previous bidders on the LeBreton Flats redevelopment in hopes of salvaging a grand vision for the long-vacant land.

REOC financial results:

Commercial  • 

Firm Capital American Realty Partners Corp., (FCA-U-X), Globe Newswire

Firm Capital Property Trust, (FCD-UN-X), Globe Newswire

Genesis Land Development Corp. (GDC-T), Canada Newswire

Invesque Inc., (IVQ-U-T), Canada Newswire

The finalists for the 2019 Homeowners’ Choice Awards

Residential  •  Newinhomes.com  •  Globe Newswire  •  Globe Newswire

Tarion Warranty Corporation has announced the finalists of the 2019 Homeowners’ Choice Awards, which recognizes the best in the new home building industry with regards to customer service and customer satisfaction.

Homebuyers focused on stress test: Brokers

Residential  •  Globe and Mail  •  Toronto Star  •  Financial Post

It happens every time, she says. The first thing Vancouver mortgage broker Patricia Collins gets asked when she sits down with clients is, “Can I pass the stress test?” “The first question used to be about rates.”

Vancouver-area foreclosures on the rise

Residential  •  Vancouver Province

With recent home sales in the Lower Mainland showing some dramatic price declines, there has been an uptick in foreclosures as owners are unable to make mortgage payments.

Airbnb-type rentals a $70M business in N.S.

Residential  •  CBC

Numbers released by Statistics Canada peg the revenue generated last year by private short-term rentals such as Airbnb in Nova Scotia at about $70.8 million, a 45 per cent increase over 2017.