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Recent Articles

Comparing apt. sectors in Calgary, Edmonton, Vancouver

5 years ago

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Canada’s three largest Western cities are divided by the Rocky Mountains, and a mountain of difference describes conditions between Vancouver and its Alberta counterparts Calgary and Edmonton. So panelists at the Western Canada Apartment Investment Conference had plenty to discuss.

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The Yonge Sheppard Centre in north Toronto was built in the 1970s as the quintessential suburban mall. Customers would arrive by car, park in one of its nearly 1,700 underground spaces and emerge on shopping floors where storefronts faced interior corridors.

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A proposed condo project in Toronto’s Etobicoke neighbourhood will be the first in Canada developed solely by women. Taya Cook of Urban Capital and Sherry Larjani of Spotlight Development have built the team which will design and develop Reina.

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Crombie REIT (CRR-UN-T) will sell majority non-managing interests in 15 additional Canadian grocery store-anchored retail properties to Chicago’s Oak Street Real Estate Capital for $193 million. This is the second sale in recent weeks as Crombie recycles funds for redevelopment projects.

Marcus & Millichap

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The Port of Quebec today announced its intention to build a $ 775-million deep-water terminal capable of serving the American Midwest. The Quebec Port Authority (QPA) said it has partnered with Hutchison Ports and Canadian National.

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BTB REIT (BTB-UN-T) has entered into an agreement for the acquisition of two properties on the South Shore of Montreal. The properties, generating a net operating income of approximately $4.6 million, are being sold for an aggregate purchase price of $62.6 million.

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Despite being ordered by the provincial government to rein in rising hospital expenses, the McGill University Health Centre has nonetheless run up an accumulated deficit of at least $4.1 million in an office building it manages in Notre-Dame-de-Grâce.

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A casino will not be part of development plans for Ontario Place, the Ontario government said on Tuesday as it officially put out a call to the private sector for proposals to revitalize the derelict theme park.

CBRE Land Services

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Ottawa-based UTG Digital Media has put some pep in a new set of steps at CF Toronto Eaton Centre, installing a specialized LED staircase as part of recent renovations. The project is valued at more than $200,000.

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Eight months after announcing a strategic review of its power plants business, Canadian Utilities Ltd. (CU-T) has struck a deal to sell its entire Canadian fossil fuel-based electricity generation portfolio for about $835 million.

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Shares of Vancouver-based biotechnology company Burcon Nutrascience Corp. (BU-T) were on fire Monday, several days after the company revealed it plans to build a $65-million pea- and canola-protein production plant somewhere in Western Canada.

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High-rise condo projects, which carry significant risk for developers and construction lenders, comprised the largest proportion of postponed developments, according to Urban Analytics, which tracks pre-sale condo data.

Atlantic Real Estate Forum

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Hundreds of rental apartments have been demolished in Burnaby in recent years, while few new ones have been built. Now, the city has passed an ambitious plan to turn the tide – rental-only zoning.

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One of the last pieces of Great Gulf‘s 76-storey One Bloor East puzzle was officially recognized on Friday morning, with the official dedication ceremony for the project’s public art installation – designer and architect Ron Arad’s “Safe Hands“.

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For 25 years, Grenville Castings in Perth has crafted aluminum parts for GM, Tesla and other automakers. But it no longer makes financial sense to build those parts in Ontario, leaving workers – and the town itself – staring into an uncertain future

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Alcanna Inc. (CLIQ-T) announced the Canadian Liquor Retailers Alliance Limited Partnership will acquire the underlying assets of 28 stores currently operating as Solo Liquor and three additional leased locations that have not yet been opened.

CoStar

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Home Capital Group Inc. (HCG-T) could become an attractive takeover target if the company’s stock continues to trade below book value, a research analyst with M Partners said Monday.

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A six-bedroom, 9,700-square-foot house on Vancouver’s chi-chi West Side has been on and off the market for the past two-and-a-half years. It was originally listed in September 2016 for $21,898,000. It just fetched $9.8 million – 55 per cent less than its 2016 asking price.

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A developer that owns several dozen properties along 17th Avenue S.W. has been granted permission to build condos on one of Calgary’s busiest corners. Arlington Street Investment purchased the corner, along with about 40 other buildings.

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On a May morning, good things are happening inside the Carrot Coffeehouse on 118th Avenue. A community hub in the truest sense, the place is bustling. Alberta Avenue residents gather in the art-filled space, enjoying conversation and the folksy vibe.

Industry Events

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