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Recent Articles

REALPAC Sentiment Survey: Increased confidence in CRE

5 years ago

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Senior executives’ confidence in the commercial real estate industry is higher in Canada than the U.S., according to the Q1 2019 REALPAC/FPL Canadian Real Estate Sentiment Survey. “It’s still business as usual,” said REALPAC president CEO Brooks.

RENX   •   • 

As Edmonton’s downtown and ICE District prepare for thousands of new residents during the next few years, it is also attracting new retailers. Loblaws CityMarket will be the retail anchor tenant at Block BG, the former bus terminal.

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The two promoters competing for Montreal’s coveted Peel Basin lands are now discussing a common development project, including a new baseball stadium. “The desire to work with the Bronfman team is there,” says Serge Goulet, president of Devimco.

RENX   •   • 

Toronto-based WPT Industrial REIT (WIR-U-T) will increase its portfolio almost 15 per cent by acquiring 13 industrial buildings in major U.S. markets for US$226 million. In addition to the 13 buildings (2.2 million square feet), the portfolio includes three parcels of land.

Energy Profiles Limited

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Allen Le Nam has big plans in a city he has good memories about. The Vietnam-born developer has emerged to take on the redevelopment of the former James Street Baptist Church into a high-rise condo project.

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A couple blocks west of Square One Shopping Centre in Mississauga, construction is progressing well at the site of Wesley Tower at Daniels City Centre, the latest phase in The Daniels Corporation’s City Centre community.

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Plans continue to evolve for Oxford Properties‘ proposed office tower – known as The HUB – at Bay and Harbour Streets in Toronto’s South Core. The plan has now appeared for the second time before the Waterfront Toronto Design Review Panel.

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A new Revera Living development on Toronto’s Broadview Avenue a couple blocks north of the Danforth is looking to uncover a forgotten heritage gem, and bring an 18-storey seniors residence to the area.

CBRE Land Services

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A Winnipeg neighbourhood will be transformed after city hall approved plans that pave the way for the demolition of five, three-storey apartment buildings. Towers Realty Group plans to build a five-storey, 100-unit residential complex on the site.

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The largest residential development in decades in Selkirk was announced on Monday, kick-starting a project that could eventually amount to $55 million worth of investment in Manitoba’s steel city. GRG Investments plan to develop 103 single-family lots and two multi-family properties.

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The El Mirador apartment building has been an oddball on Edmonton’s architectural scene since it went up decades ago on 108 Street, just north of Jasper Avenue. The white stucco facade and red tile roof are a local rarity.

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Two former residents of Ottawa’s Heron Gate Village are suing Timbercreek, claiming the development company ignored repeated maintenance requests, resulting in water in the basement, mould and other problems in their unit as their leaky basement went unrepaired.

Montreal Real Estate Forum

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Just weeks after Tier REIT jumped into the Atlanta office market with a notable Buckhead purchase, it is now merging forces with Cousins Properties. Cousins and Dallas-based Tier plan to form a new company with a market capitalization of $7.8 billion.

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The Royal Inland Hospital Patient Care Tower project in Kamloops, B.C., has been named the 2018 North American Social Infrastructure Deal of the Year. The $288-million project is being built solely by EllisDon under a design-build-finance-maintain model.

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The 2019 finalists of the 39th annual BILD Awards have been announced. The BILD Awards highlight the best of the best in the Greater Toronto Area’s new home industry, from builders, developers, marketing and design to people, sales, and sustainability.

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February saw a large jump in sales of new single-family homes in the Greater Toronto Area, but a decrease in sales of new condominiums, a new study from the Building Industry and Land Development Association (BILD) has found.

CoStar

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Canadian mortgage-holders are the unexpected beneficiaries of some of the gloom hovering over Canada’s economy. Fixed mortgage rates have been falling precipitously in recent weeks, as the cost of financing those loans has gotten cheaper.

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Vancouver is trying yet another unique experiment to entice developers into building rental apartments. This one will require 20 per cent of the units in the building be rented at prices far below current rates: $950 for a studio.

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An author of a new report on the risk of money laundering in Toronto’s real-estate market says British Columbia should take a closer look at the role of private lending.

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