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Recent Articles

Bloor-Yorkville Canada’s priciest retail corridor

5 years ago

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Toronto’s Bloor-Yorkville neighbourhood contains the fifth most expensive retail corridor in North America and several factors are keeping it that way. “Bloor-Yorkville is representative of what is happening in the Toronto urban market and high-street retail,” said JLL’s Tim Sanderson.

RENX   •   • 

With two condominiums completed, three under construction and another nearing its sales launch, Toronto’s North Drive has carved a niche in the city’s development industry. Jordan and Taylor Morassutti, along with Robert Fidani, are the driving forces behind the company.

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Canada’s office market posted positive absorption of nine million square feet in the 12 months ending June 30 – significantly more than the nearly six million square feet absorbed in the prior 12-month period, says Avison Young’s Mid-Year 2019 Global Office Market Report.

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Clayburn Industries, one of B.C.’s oldest companies, is selling a 361-acre mining site in Abbotsford that could be redeveloped with almost 90 acres possible for residential development. The “guidance price” is $45 million, said Michael Farrell, a principal with Avison Young.

Community Trust

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The federal government has opened three co-working offices across Ottawa with plans for two more in the National Capital Region as the city’s largest employer embraces a global trend towards flexible workspaces.

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The Canada Green Building Council (CaGBC) wants the federal government’s 2020 budget to include three investments it believes will drive the transition to a low-carbon economy.

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Officials in Hamilton are celebrating a record-breaking, economic milestone — hitting $1 billion in building permits in just eight months – the fastest the city has ever reached the figure. The 4,719 projects range from residential and institutional to commercial and industrial.

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Amazon continues to expand its network across Canada with several new or soon-to-complete distribution centres in Calgary, Edmonton and Ottawa. That likely represents either convenience for customers and landlords, or a disaster for bricks-and-mortar retailers and competing industrial tenants.

Stewart Title

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While Metro Vancouver’s residential sector struggles, its commercial real estate market is holding firm, with vacancy rates extremely low, according to a monthly analysis by commercial market intelligence company CoStar Group.

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The Brookfield name has been attached to a head-spinning number of deals over the past year, either through Brookfield Asset Management (BAM-A-T) or one of the alternative asset manager’s four publicly traded operations. How should investors approach this multi-headed behemoth?

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The same factors making life difficult for renters are generating higher revenues for apartment REITs. Through Aug. 19, units of CAPREIT (CAR-UN-T) have surged about 57 per cent. InterRent (IIP-UN-T), Killam Apartment  (KMP-UN-T) and Minto Apartment REIT (MI-UN-T) are also hot.

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R&R Real Estate Investment Trust, (RRR-UN-X), Sedar

Pattison ONESTOP

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Boyuan Construction Group, Inc., (BOY-T) today announced six new construction projects, including five residential and one commercial in China’s Zhejiang Province and Hainan Province, with combined contract values of $247 million Cdn.

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SNC-Lavalin Group Inc. (SNC-T) was cut to junk by S&P Global Ratings, the latest blow for the Canadian engineering firm. S&P cut the Montreal-based company by one level to BB+, the highest non-investment grade rating.

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Here are two fearless predictions on the Hudson’s Bay Co. (HBC-T) takeover battle: Richard Baker and his allies will increase their $1-billion offer for the department store chain, and they will do it with other people’s money.

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Canada Pension Plan Investment Board CEO Mark Machin says his fund is ready to take advantage of economic instability. “We like to be able to take advantage of the opportunities that happen when everyone else is stressed,” he said Tuesday.

BOMA

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Marcus & Millichap Inc. is making the case for investors to buy into Ottawa’s purpose-built rental market on the belief the city’s recent surges in rent prices still have a ways to go.

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As a builder with offices in Toronto and Palm Beach, Fla., Brennan Custom Homes identified the need for something different in the Eastern Ontario town of Gananoque, but it was a discovery that was made almost by accident.

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The city’s urban planning committee voted Tuesday in favour of creating a business licence bylaw for short-term rental hosts in Edmonton. Hosts would have to apply for a business licence, which could include a property inspection. The proposed fee is $92.

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The Newfoundland and Labrador housing market is clogged up with places for sale, but real estate experts say it’s going to get better soon — just in time to face new challenges from the province’s dwindling population.

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