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Federal government unveils over $21B for rental housing, infra
Federal gov't unveils over $21B for rental housing, infra
UPDATED: The federal government has unveiled plans to invest over $21 billion in new funds into apartment construction financing, infrastructure and other programs to alleviate the country's housing crisis. It pushes for more, faster and more dense housing options.
Some provinces reject feds' $6B housing infra program
Some provinces, including Quebec and Ontario, have quickly rejected the federal government's multi-billion-dollar fund to pay for infrastructure needed to build housing, bypassing provinces that object to the requirements to deal directly with municipalities as an intrusion into their jurisdiction.
Developers team up, propose huge 12-tower project in Halifax
A proposed mixed-use development could add 12 buildings with 3,656 housing units and commercial space in Halifax’s Strawberry Hill area. Three different developers have pooled three adjacent properties for the proposal.
INVESTIIR Group to build Phase IV at $250M Pine Hill Domain
INVESTIIR Group, an initiative of the Gibault Group, announced the just-commenced fourth phase of the Pine Hill Domain in the Laurentians. The recreational-tourism destination represents a major investment of over $250 million.
Vancouver zoning update unlocks industrial opportunities
Changes to Vancouver’s updated I-2 zoning regulations aim to maximize industrial land-use amid low vacancy by allowing certain kinds of tenants to occupy the upper floors of light and medium industrial buildings.
Downtown Vancouver poised for growth amid challenges
Data shows downtown Vancouver continuing to recover from the pandemic-era slowdown, though challenges remain, according to a State of Downtown report by Downtown Van, which notes increases in pedestrian traffic and transit use are positive signs for business owners.
Lufa Farms opens greenhouse atop Montreal shopping centre
Lufa Farms Inc. has opened its first rooftop greenhouse farm atop a shopping centre, bringing 127,000 square feet of urban agriculture space to Montreal. The greenhouse is located on the roof of the Marché Central Walmart and Decathlon building.
Six-storey mixed-use could replace vacant Winnipeg store
A six-storey building with 99 new residential units could replace a vacant convenience store at 1131 Nairn Ave. in Winnipeg. The proposed mixed-used structure would also include street-level commercial space and an underground parking structure, if the project is approved.
Allied completes acquisitions of Vancouver, Toronto towers
Allied Properties REIT (AP-UN-T) announced it has completed the acquisition of a 90% ownership interest in 400 West Georgia St. in Vancouver and an increase in its ownership interest in 19 Duncan St. in Toronto from 50% to 95%.
Indigo agrees to go private following sale
Indigo Books & Music (IDG-T) has agreed to be taken private after agreeing to a sweetened offer. Trilogy Retail Holdings and Trilogy Investments will pay $2.50 per share in cash for the stake in Indigo they do not already own.
Holt Renfrew Toronto flagship store marks 45 years
The Toronto Holt Renfrew store at 50 Bloor Street West is marking 45 years of operations. When it opened in March of 1979, it was met with considerable celebration and marked a milestone as its largest store location.
U. of Waterloo, Caivan launch Future Cities Institute
The University of Waterloo and Ontario land development and homebuilding company The Caivan Group are launching The Future Cities Institute to tackle the greatest challenges facing urban spaces now and in the future.
Major Homes focuses on sustainability, wins Maverick Award
Winning the inaugural Built Green Canada Transformational Maverick award acknowledges a fundamental shift in focus by Major Homes, says the chief operating officer of the family-operated Vancouver-based custom homebuilder.
Flawed Broadway Plan prioritizes density — not affordability
OPINION: Vancouver’s former chief planner Larry Beasley said the Broadway Plan ticks all the right technical-planning boxes, but it neglects the public’s need for neighbourliness, community visioning and housing that is affordable for middle incomes.
U.S. office vacancy reaches record 19.8%: Moody’s
U.S. office vacancies rose to a record 19.8% in Q1 2024, from 19.6% in Q4 2023, Moody’s Analytics said in a preliminary report Monday. Moody’s said the early data still points to a stable quarter for commercial real estate.
Ares sells $113M Denver office mortgage for ‘land value’
Cress Capital, a real estate investment manager, said it acquired a $113 million mortgage on a Denver office tower from an Ares Management Corp. affiliate for the equivalent of the land cost.
PREIT emerges from bankruptcy once more
PREIT has emerged from its latest bankruptcy, which it declared in December, and will transition from a publicly traded mall owner to a private company. As part of the reorganization plan, PREIT reduced its debt by about $835M.
Hilton acquires NoMad Hotel brand
Hilton Worldwide Holdings Inc. (HLT-N) is acquiring a controlling interest in hospitality firm Sydell Group in a deal to expand the NoMad Hotels brand and add to Hilton’s luxury offerings.
Tropicana Las Vegas casino’s final day has arrived
After welcoming guests for 67 years, the doors to Tropicana Las Vegas, Las Vegas Strip’s third-oldest casino, were shuttered at noon Tuesday. Demolition is slated for October to make room for a $1.5-billion Major League Baseball stadium.
India's Embassy REIT plans to raise up to $400M
India's largest real estate investment trust, Embassy Office Parks, plans to raise up to $400 million from investors, two sources said, as it looks to meet demand for office space from global and local giants.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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