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Developers in Langley, B.C. eager to launch condo projects
Developers in Langley, B.C. eager to launch condo projects
There’s a baseline of presale home demand that remains attractive to developers in the Langley area of Metro Vancouver, stoked by more affordable prices, a rising population and improved regional connections, says one of the community's busiest developers.
Bank of Canada trims 50 BPS, takes interest rate to 3.25%
The fifth consecutive rate cut by the Bank of Canada - 50 BPS to an overnight interest rate of 3.25 per cent - will likely stimulate increased homebuying in 2025, but condo buyers are waiting for more, real estate insiders say.
 | Design, Policy and Canadian Cities Government-owned land: An opportunity we can’t afford to missNaama BlonderArchitect, Urban Designer, Urban Planner | B.Arch, OAA, RPP, MCIP |
Toronto office vacancy will peak next year: CBRE
Toronto’s office vacancy rate is expected to reach its peak in early 2025, paving the way for the market to recover after a destabilizing few years as companies adjusted to remote work.
$50M returned to private sector after Lion's Mirabel sale
Groupe Mach, the Saputo Foundation and their partners will pocket the $50 million raised by Lion Électrique for the sale of a complex in Mirabel. The consortium had a guarantee when it bailed out the struggling company in 2023.
Dev. fee error on Amazon warehouse cost Waterloo $13.7M
The Region of Waterloo is out $13.7 million after an error was made in calculating development charges for a project in Cambridge where an Amazon fulfilment centre was later built.
Thind facing foreclosure on Burnaby Maywood project
Another project being developed by Burnaby-based real estate developer Thind Properties is now facing insolvency proceedings, according to filings in the Supreme Court of British Columbia, adding to the embattled developer's litany of financial trouble.
Bylaw cracks down on illegal parking lots in Edmonton
Edmonton is cracking down on illegal outdoor parking lots in the city’s core. Property owners will need to get development permits and a suite of upgrades to continue their businesses, as the city moves to spur sites to development.
Leyad acquires third mall in Prince Albert, Sask.
Henry Zavriyev, CEO of Leyad, has announced the purchase of South Hill Mall in Prince Albert, Sask. A well-established retail hub in the region, South Hill Mall joins Leyad's growing portfolio, which already includes Cornerstone and Stockyards in Prince Albert.
Retail sector resilient despite challenges: Colliers
As Canada’s economy shows signs of stabilizing with easing inflation and potential rate cuts, the retail sector is navigating a mix of opportunities and challenges, says an executive for real estate company Colliers.
Holt Renfrew brings menswear back to Bloor flagship
After nearly a decade apart, Holt Renfrew has brought its menswear department back to its flagship store at 50 Bloor St. W. in Toronto. This marks a significant milestone, ending the chapter of the standalone men’s store at 100 Bloor St. W., which opened in 2014.
VICI enters master lease agreement with IGP
Real estate investment trust VICI Properties (VICI-N) announced Tuesday an amendment to its master lease agreement with operator Pure Canadian Gaming Corp. in response to the acquisition of that company’s operating assets by Indigenous Gaming Partners (IGP).
Asking rents decline to 15-month low, report says
A new report says average asking rents fell on a year-over-year basis to $2,139 in November, marking a 15-month low. The monthly report from Rentals.ca and Urbanation finds average asking rents across Canada were down 1.6 per cent.
3-tower project in Port Moody headed to public hearing
Beedie Living’s massive three-tower project for Moody Centre is headed to what will likely be a divisive public hearing early next year. Beedie is proposing 32, 34, and 38-storey towers on Spring Street and Electric Avenue.
Real estate podcasts
Zev Kershman, DashQ: DashQ’s Impact on multifamily landlords, CRE Podcast
Cory Wright, William Wright Comm.: Commercial momentum building, VCREP
Brookfield fund buys $1.25B student-housing portfolio in U.S.
A Brookfield Asset Management property fund bought a group of U.S. student-housing communities for C$1.25 billion. The 14 properties have a total of roughly 8,700 beds and serve schools including Texas A&M University and Dartmouth College.
120 JCPenney stores set to hit the market, sales could top $1.3B
The owner of 120 JCPenney stores across the U.S. is planning to put the for-sale signs on their “cherry-picked” locations next year as part of the retailer’s 2020 bankruptcy process.
Sail Tower commands $522M in Austin's largest 2024 office sale
In what will likely be the largest office trade in Austin, Texas, this year, Cousins Properties has acquired 601 W. Second St., also known as the Sail Tower, for more than US$521.8 million.
NYC’s five-star Pierre Hotel near Central Park is on the market
The Pierre, a five-star hotel overlooking Manhattan’s Central Park, is up for sale. A buyer would acquire the Pierre’s 189 hotel rooms plus its retail space and restaurants, according to sources who asked not to be named.
Blackstone buys defaulted London office project at big discount
Blackstone Inc.’s iQ Student Accommodation business has bought a plot of central London land out of receivership after its previous owner defaulted on a loan from the billionaire Reuben Brothers.
Industry Events
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Canada Real Estate Auctions
Jan 01 2025
to Dec 31 2025
Canada
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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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