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Massive redev. planned in Kelowna's downtown north
Massive redev. planned in Kelowna's downtown north
Holar Developments is working on a conceptual plan to develop Kelowna's 44-acre former Tolko sawmill site into a high-density mixed-use neighbourhood. Current plans suggest up to 16 towers, plus additional buildings and features for the site.
New leasing buoys Edmonton's downtown office sector
Edmonton office vacancy declined in the third quarter, buoyed by two major downtown leases and raising hopes for change in a market that has languished since 2018.
Taking a peek at Phase 1 of Carbonleo's Royalmount
Phase 1 of Carbonleo's Royalmount megamall is taking shape in the Town of Mount Royal’s industrial sector, near the intersection of Highways 15 and 40. Opening of the $7-billion retail and lifestyle centre is scheduled for summer 2024.
Nine-building Victoria project to go to public hearing
Focus Equities' long-planned Roundhouse project – which will go to a public hearing in Victoria – proposes nine buildings ranging in height from 10 to 32 storeys, with 1,870 residential units, a day care and 60,000 square feet of commercial space.
Yonge and Bloor isn’t dead — it’s in transition: Insiders
At the place where two of the country’s most prominent thoroughfares meet, lies an intersection in disarray. Empty storefronts, scaffolding and construction, and over it all, the looming half-built luxury condo development The One, recently put into receivership.
Millennium proposes two towers in Burnaby’s Brentwood
Millennium Properties Ltd. is proposing a 62-storey residential strata building and a 54-storey market and non-market rental building above a podium with a 280-room hotel and ground-oriented retail in Burnaby's Brentwood Town Centre.
Enbridge, Blackstone to get CIB funding for retrofit program
Enbridge Sustain and Blackstone Energy Services Inc. will receive $200 million from the Canada Infrastructure Bank (CIB) toward a $300-million decarbonization retrofit program aimed at Ontario's municipalities, post-secondary institutions, hospitals and multiresidential buildings.
GTA industrial market continues trend to moderation: JLL
According to JLL’s Industrial Report, the GTA industrial market continues to trend toward relative moderation. Vacancy rates have seen gradual increases paired with smaller quarter-over-quarter increases in average net asking rents.
Adonis to open new store in Ontario
A new Adonis Mediterranean Market is coming to London, Ont. The Metro-owned Middle Eastern grocer will open a 45,000-square-foot location in the newest phase of the Westwood Power Centre (developed by Southside Group).
Eataly's 3rd T.O. location coming to CF Shops at Don Mills
Large-format Italian food marketplace Eataly will open its third Toronto location next year at the CF Shops at Don Mills, following the opening of a second storefront in the city on Nov. 2 at CF Sherway Gardens.
Indigo CEO unveils new store and vision
Indigo Books & Music Inc. (IDG-T) CEO Heather Reisman showed off a new store last week that represents her vision – but she continued to refuse to answer questions about recent high-profile departures and allegations of mistreatment by a former board member.
Eight-day St. Lawrence Seaway strike is over
Unifor and St. Lawrence Seaway Management reached a tentative agreement Sunday night, ending an eight-day strike that halted shipments of western wheat, road salt and other commodities on the waterway that links the North American heartland with global markets.
Virtus acquires Ontario apt. building for $22.8M
Virtus Diversified REIT announced the acquisition of Parry Sound Place, an apartment building in Parry Sound, Ont., for $22.8 million. The building features 70 apartment units and three commercial units. The sale is expected to close in November.
B.C.’s Airbnb crackdown will devastate some investors
ANALYSIS: British Columbia’s new legislation that would ban short-term rental in secondary investment properties will cause a whole lot of pain – and without producing the desired affordable housing, says Kelowna property manager Amanda Van Der Lee.
Rental control is a blunt tool: Landlords group
“Rent control is a flagship political tool and a promise that is far more complex than it first appears. It is not the comprehensive form of tenant protection it is billed to be,” Landlord B.C. CEO David Hutniak wrote.
Renting in Canada is starting to look like a steal
The cost of buying a home in Canada versus renting is facing one of the most extreme price discrepancies since the early 2000s. Monthly mortgage payments for the average-priced home are now well over double the nation’s average monthly rent.
Healthpeak, Physicians Realty Trust enter $21B merger
Healthpeak Properties (PEAK-N) and Physician Realty Trust (DOC-N) have entered into a definitive agreement to combine in an all-stock merger valued at $21 billion. The new company will operate a portfolio of 52 million square feet of health-care facilities.
Realty Income acquiring Spirit Realty Capital for $9.3B
Realty Income (O-N), will acquire Spirit Realty Capital (SRC-N) in an all-stock transaction valued at $9.3 billion. The combined company is expected to have an enterprise value of $63 billion and will position Realty Income for further growth.
CBRE making $150M in cuts, targeting brokerage business
CBRE, the world’s largest CRE services firm, is making another large round of cost reductions, targeting its core brokerage business, after a worse-than-expected Q3 performance. CBRE cited a slowdown in leasing and sales due to a challenging capital markets environment.
U.S. retail vacancy at lowest level since at least 2005
U.S. retail availability nationwide fell to 4.8 per cent in the third quarter, at least an 18-year low. That number, a 10-basis-point drop from Q2, is the lowest level reported since CBRE began tracking the market in 2005.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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