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Recent Articles

RioCan, Metropia, Capital to launch 11 Yorkville

5 years ago

RENX   •   • 

Three of Canada’s leading developers will launch sales this fall for one of downtown Toronto’s most significant condominiums, the 62-storey 11 Yorkville. Partners RioCan Living, Metropiaand Capital Developments will develop the project, which will feature 593 suites from 400 to 1,140 square feet.

RENX   •   • 

Montreal has the ingredients to outpace other Canada and Northeastern U.S. cities in data centre growth, says David Cervantes of CBRE. “We have low power costs, generally low real estate costs, and access to a good tech workforce.”

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Robert Fung, president of Vancouver-based The Salient Group, has been watching over construction of his 60-unit rental project that will bring micro-suites this winter. In September, he seeks approval from the City of Victoria for a 101-unit rental building.

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The Kwoks, who built Sun Hung Kai Properties Ltd. into Hong Kong’s largest developer, control a US$38 billion fortune that’s by far the city’s biggest. The family also has significant ties to Vancouver through ASPAC Developments, which they wholly own.

Marcus & Millichap

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The project to create Canada’s largest urban park has drawn lawsuit threats from the owners of private land working on a 5,500-unit residential development. “You need patience and persistence and vision,” Mayor Paola Hawa said about protecting green spaces.

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Walmart Canada  announced the appointment of Horacio (Haio) Barbeito to the position of president and CEO, effective in October. Barbeito joined Walmart nearly 25 years ago and developed his career through leadership roles in Argentina, the U.S., Puerto Rico and Chile.

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Toys “R” Us Canada’s president has resigned from the top post after more than two decades with the company. A spokeswoman says Melanie Teed-Murch tendered her resignation to accept a new opportunity, which has not been disclosed.

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Smart building technologies are giving companies a green edge, saving construction contractors time, energy costs, and the need to redo some tasks. PCL Construction has adopted the concept extensively, creating its own Job Site Insights platform.

CBRE Land Services

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Innovative technology is the answer for bricks-and-mortar store owners seeking to lure shoppers bedazzled by the ease of online shopping. At the Sport Chek on Vancouver’s Robson Street, a hologram creates the illusion a running shoe is on fire.

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Sleep Country Canada Holdings Inc. (ZZZ-T), Canada’s leading sleep retailer, announced its newest and 275th location within Kingsway Mall in Edmonton. With the addition of this new store, Sleep Country can be found within 11 shopping malls across the country.

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Asian grocer Sungiven Foods Canada, a subsidiary of Xiamen Sungiven Foods Holding of Xiamen, China, is expanding to Canada. Sungiven opened its Canadian head office in Burnaby in early 2019 and will open three stores this winter in Greater Vancouver.

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U.S. hypermarket chain Costco Wholesale Corp. (COST-Q) was forced to shut its first store in China early on its opening day on Tuesday after large crowds flocked through the door and caused traffic jams in the Shanghai neighbourhood.

Real Trends - 2019

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A Cape Breton hotel that once hosted Alexander Graham Bell and U.S. presidents has a new owner. David Strang, who is originally from Sydney, N.S., but now lives in Calgary, purchased the 6,490 square-foot hotel for $700,000.

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Commercial real estate lawyers are seeing a growing business in international property purchases as large Canadian investors exhaust their domestic interests and look further afield in a world that is becoming increasingly smaller.

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With “CAVE people” (Citizens Against Virtually Everything) holding back rental construction and renovations in Metro Vancouver, some investors are solving the issue by looking to other urban markets. The multi-family sector is doing fine in the Thompson Okanagan, for example.

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A developer has filed an application for a new 21-storey, 116-unit high-rise in Centretown. Applicant RLA Architecture, working with property owner Upscale Homes, is looking for a zoning bylaw amendment to allow a proposed high-rise residential development.

Harbour Equity

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Toronto’s short-term rental regulations won’t solve the city’s housing crisis but they will help stabilize the supply of homes and reduce the nuisance issues of noise, garbage and parking afflicting residential neighbourhoods a senior city planner said Monday.

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More and more homes across the country are sitting empty, shows a report from Point2 Homes.  The report found that between 2006 and 2016, the proportion of “ghost homes” doubled in Grande Prairie, Leduc and Fort Saskatchewan, Alta.

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As a region, we must act collectively if we are to improve the availability of three-bedroom apartments for growing families. The Metro Vancouver Housing Book confirms just five per cent of all new units constructed between 2001 and 2016 had three bedrooms.

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Neighbours were stunned to learn a city-owned property in Vancouver’s West End intended for affordable housing was advertised on Craigslist at a price decidedly unaffordable even for average renters, let alone the low-income families for whom the home was intended.

Industry Events

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