Toronto to top residential rental rate hikes

RENX  Residential  •  Apartments  •  National  •  January 3, 2019

Average rents across Canada will increase six per cent in 2019 according to Rentals.ca’s National Rent Report. “People tend to want to separate the sales market from the rental market, but they’re connected,” said analyst Ben Myers.

Vancouver’s 2019 CRE outlook: Positive, packed and pricey

Commercial  •  Western Investor  •  Western Investor

Metro Vancouver’s commercial and industrial real estate sector is coming into 2019 with arguably Canada’s best market conditions. It is witnessing a rare confluence of among the lowest vacancy rates in North America, record high prices and sustained development.

Yorkdale mega-mall defying all the odds

Commercial  •  Toronto Star  •  RENX

Yorkdale, Canada’s first shopping centre and its most successful, is on a major roll, fuelled by its luxury fashion strategy. At two million square feet with 270 shops and services, the Toronto mall is the most profitable in Canada.

The People Space › People Space: Goodman leaves Dundee, Ehrlich retires as CAPREIT CEO

Don Wilcox: Managing Editor

Economic bust: Fort McMurray’s new normal

Residential, Commercial  •  CBC

On a recent Wednesday afternoon, a customer browses Fort McMurray’s Popeye’s Supplements, the store to himself. Owner Brad Malley is used to customers competing for his attention in a store stocked with protein bars and canisters of fitness powder.

Mont-Tremblant’s only five-star hotel remains independent

Commercial  •  Montreal Gazette

Sean O’Donnell and Stephen Courey, the owners of Mont-Tremblant’s only five-star hotel, say being independent has its advantages. Hôtel Quintessence’s affiliation with a large hotel chain would limit their ability to offer their personalized experience, they say,

Quebec movie chain Guzzo readies Western expansion

Commercial  •  Globe and Mail (Subscription required)

Quebec cinema chain Guzzo is making a push into Alberta in a bid to offset exposure to its home province as the North American movie-theatre industry scrambles to hold its ground amid volatile attendance levels.

Deadline looming for Quebec landlords to ban cannabis

Residential  •  CBC

The deadline is quickly approaching for Quebec landlords who want to restrict cannabis smoking on their properties — by Jan. 15 tenants need to be advised that their lease is changing to include a ban.

HBC closes Lord & Taylor flagship store

Commercial  •  Toronto Star

After 104 years, Lord & Taylor’s flagship store on Fifth Avenue locked its doors forever. Hudson’s Bay Co. (HBC-T),which has owned the brand since 2012, said it was closing the flagship due to an “increasing focus on its digital opportunity . . .”

Department store executive Blake Nordstrom dead at 58

Commercial  •  CP 24

Blake Nordstrom, who led the upscale department store chain Nordstrom as co-president with his brothers Erik and Peter, has died. He was 58. The Seattle-based company said Nordstrom passed away unexpectedly early Wednesday.

NorthWest Healthcare Properties’ outlook favourable

Commercial  •  Seeking Alpha

Although macroeconomic conditions appear to be uncertain in 2019, NorthWest Healthcare Properties REIT (NWH-UN-T) should do OK, as healthcare industry is generally recession resilient. The REIT also has several development projects that should reach completion in 2019.

You should buy diversified H&R REIT

Commercial  •  Motley Fool

H&R (HR-UN-T) is one of Canada’s largest and most diversified REITs. The company’s third-quarter results were mixed, however, I still believe H&R is a buy for several reasons including its growth prospects.

True North Mortgage seeking banking licence

Residential  •  Globe and Mail (Subscription required)

One of Canada’s largest mortgage brokerages, True North Mortgage Inc., has applied for a licence to open a bank in a bid to expand its range of products. The Calgary-based brokerage seeks create Think Bank.

Up to 10% drop in value for detached Vancouver homes

Residential  •  CBC  •  Vancouver Sun

After years of dramatic increases, new assessment numbers show homes in Vancouver, the North Shore, South Surrey, White Rock, South Delta and Richmond are showing decreases in value of five to 10 per cent.

Calgary home sales hit 20 years-plus lows: Realtor

Residential  •  CBC  •  Global News

Calgary’s housing market continues to contend with more supply than demand and in 2018 saw the lowest sales numbers in over 20 years, according to a Jim Sparrow with Royal LePage Solutions.

The Saskatchewan Edge › If it’s not -30C for a week or more, things just aren’t right…

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

The small towns that refuse to die

Residential  •  Financial Post

Jay Patel decided about four years ago he wanted to buy a motel. He was living in Brampton and working as a machine operator in a warehouse, a job he had done since immigrating to Canada from India in 2000.

The juicy history of NYC’s famed Cartier Mansion

Commercial  •  Hodinkee

It’s possible to walk by the Cartier Mansion, on the corner of 52nd Street and Fifth Avenue in New York City, without much of an idea of what it represents. A lot of people undoubtedly do.

Qatar approves plans for Microsoft global data centre

Commercial  •  Reuters

Qatar’s cabinet approved the establishment of a Microsoft global data centre in the small Gulf country, state news agency QNA reported Wednesday. Azure announced plans to expand into the Middle East for the first time last year.