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Recent Articles

Montreal industrial CRE sector hits record heights

5 years ago

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Montreal’s industrial market has hit new benchmarks, with record prices for transactions, and land on the island becoming a rare commodity speakers said at the Montreal Real Estate Forum. Prices are “day and night compared to a year ago,” said Stéphane Robillard of JLL.

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Steve Bamford is concerned about the future of Etobicoke’s Ontario Food Terminal, which sees more than $3 billion of wholesale produce pass through every year, making it the biggest fruit, vegetable and flower market in Canada.

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The Canadian government is spending $277 million to renovate the Arthur Meighen Building in midtown Toronto to make it as energy-efficient as possible and more accessible to people with disabilities, a federal cabinet minister said on Tuesday.

RENX   •   • 

Zev Mandelbaum comes from a line of developers, and knew his career path from an early age. That path has led to forming his latest company: Altree Developments. Mandelbaum’s grandfather started H&R Developments in 1952; father Mark co-founded Lanterra Developments.

CMLS

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The cost of the St. Lawrence Market north redevelopment project has climbed by another $14 million, bringing the total bill to $116.3 million. Toronto council approved a $75-million budget in 2008 for the redevelopment.

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The future of K-Days and the amount of public funding are questions surrounding the redevelopment of the 220-acre Northlands site as Edmonton moves forward on a plan centred around two “transit villages” and a mix of residential and commercial space.

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A nearly 500-page Lake Louise Ski Resort draft plan, posted this month by Parks Canada, details long-range ideas for new lodges, ski runs, animal protections — and giving up half of its leasehold, amounting to 30 per cent of its ski area.

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The City of North Vancouver is adding a new “brewery district” to Lower Lonsdale. Council voted to rewrite part of the zoning bylaw to make it easier for a host of new breweries to open lounges in the industrial area.

Centurion

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A $10-million new terminal building is nearing completion  at the Langley airport and a near-$40 million expansion of Langley Memorial Hospital is underway as infrastructure attempts to keep pace with one of the fastest-growing regions in B.C.

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Investors will receive a partial payout on the syndicated mortgage loan they provided for the James condominium project in Toronto, launched by Toronto developer Brad Lamb in partnership with troubled Fortress Real Developments Inc.

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A lawyer for buyers in the cancelled Cosmos condos in Vaughan has asked an Ontario court to rule against “unlawful contracts” that allow developers to kill projects if they don’t consider the financing conditions satisfactory without disclosing those conditions.

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A new 74-unit apartment building to house the homeless, or people at risk of becoming homeless, will open in downtown Calgary next fall. The land was sold to charitable real estate developer HomeSpace at a $3.8-million discount by the city.

Community Trust

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Lululemon Athletic Inc. (LULU-Q) says it will focus efforts to double revenue from men’s products and digital revenue, and quadruple international revenues by 2023. Lululemon says growing its men’s line will be part of its ongoing product innovation.

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Vornado Realty Trust (VNO-N) has made a handful of moves to put funds at its fingertips this year, most recently the transfer of a 45.4 per cent common equity interest in its Upper Fifth Avenue and Times Square retail portfolio.

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The government of Malaysia said it plans to resurrect Bandar Malaysia, the country’s biggest ever real estate development, which it terminated in May 2017 after a dispute with a consortium made up of Iskandar Waterfront Holdings and China Railway Engineering Corp.

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Eyeing that can of pop in the supermarket cooler? A camera could be watching you. However, it’s not there to see if you’re stealing. These cameras want to get to know you and what you’re buying.

BOMA

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The New Brunswick government may take an even firmer approach to encouraging people to relocate their homes outside flood zones, Premier Blaine Higgs said as water levels from the St. John River in the Fredericton area surpassed last year’s.

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Residential real estate markets throughout much of Atlantic Canada are poised for solid growth in 2019 as economic performance ramps up, unemployment rates decline, and first-time buyer incentives at both provincial and federal government levels take hold, according to RE/MAX.

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New infill projects in Edmonton may be subject to stricter rules in the coming years after councillors reviewed a recent report showing citizen complaints about infill went up 51 per cent in 2018, from 820 cases to 1,240.

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Selling a house in Calgary is still a challenge, with oversupply driving down prices, according to the Calgary Real Estate Board. If you’re a high-end buyer, here are the top 10 priciest properties listed on MLS in Calgary:

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