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Adi shifting development focus from condos to apartments
Adi shifting development focus from condos to apartments
Burlington, a city of 200,000 people at the western edge of the Greater Toronto Area on the Lake Ontario shoreline, has grown in popularity with condominium developers over the years. For Adi Developments, however, that focus is changing.
Loblaw to open 80 stores in 2025 as part of $10B investment
Loblaw (L-T) says it’s planning to open 80 stores this year, about 50 of which will be discount grocers. The company says the new locations are part of an approximately $10B investment over the next five years.
Feds commit $3.9B for design phase of high-speed-rail line
The federal government has selected a group called Cadence to move ahead on the design phase for a high-speed-rail line covering roughly 1,000 kilometres between Quebec City and Toronto. This initial phase will receive federal funding of $3.9 billion.
GWLRA to build 605,000-sq.-ft. warehouse for Princess Auto
GWL Realty Advisors will develop a design-build warehouse for Princess Auto Ltd. at its Stoney North Logistics Centre in Balzac, located in Rocky View County just outside Calgary.
AtkinsRéalis to buy 70% stake in Portland-based David Evans
Montreal-based engineering firm AtkinsRéalis is on solid enough financial footing to resume acquisitions, its CEO said, after the company announced it had made a US$300-million deal to expand its footprint in the western United States.
Mayrand sells distribution division for $51.5M
Mayrand, a company that owns four large warehouse-style supermarkets, is selling its distribution division. The assets related to its food distribution activities were acquired by Quebec-based Groupe Colabor including three warehouses in Drummondville, Anjou and Quebec City.
Building conversions meet construction circularity
Empty class-B and -C commercial buildings represent stranded assets that property owners can ill afford, leaving two options. Either the building is repurposed or it is demolished and replaced by a new structure more appealing to tenants.
Competition Bureau probes use of software in setting rents
The federal Competition Bureau is investigating the use of algorithmic pricing in the country’s home rental market, targeting a practice that some Canadian politicians and renter advocates say is inflating monthly rents.
Developer Ashcroft Homes forced into receivership
One of Ottawa’s leading developers, the Ashcroft Homes Group, has been forced into receivership by a group of creditors who lost confidence in the company’s managers and their turnaround plan.
Home listings soar as tariff uncertainty weighs on sales
Uncertainty around tariffs and a potential trade war with the United States were the likely culprits behind home sales falling off during the last week of January, according to the Canadian Real Estate Association.
Gairloch breaks ground on Craft Residences in Toronto
Gairloch and Tenblock have started construction at Craft Residences in the west end of Toronto. The boutique eight-storey, 87-unit project is the third for the developer in the Junction neighbourhood.
Preliminary approval given for 366-unit project in Moncton
Moncton council has given preliminary approval to developer Noky Group's proposal for four six-storey buildings with a mix of apartments and commercial space along the edge of the Vision Lands. The plans call for a total of 366 residential units.
Court grants sale of retailers Ricki’s, Cleo to Putman
An Ontario court has granted Comark Holdings approval to sell its Ricki’s and Cleo banners to the owner of Toys “R” Us Canada and HMV and laid the groundwork for the ailing company to off-load its Bootlegger brand.
Costco aims for late-2025 opening on west edge of Winnipeg
A fourth Costco store is in the works for the Winnipeg area. Commercial real estate firm Shindico announced the 167,000-square-foot store in the Westport Festival development is underway, targeting a late-2025 opening.
Ackman doubles down on new Howard Hughes offer
Billionaire Bill Ackman’s Pershing Square Capital Management has tendered a new offer to Howard Hughes Holdings, this time offering to acquire 48 per cent of the company by buying 10 million newly issued shares for US$90 each.
Disney's new NYC HQ was built for grown-ups
The 1.2-million-square-foot office building, which opened in December, is an all-electric, solar-powered, high-performance building which brings together Disney’s news, editorial, streaming and live production divisions under one roof on Hudson Square.
NYC life sciences projects worth $1B get green light
New York City Council has voted to approve the Science Park and Research Campus Kips Bay and Innovation East life sciences projects, as announced by the New York City Economic Development Corp.
Chicago office market faces a bumpy start in 2025
Chicago’s office market ended 2024 with few positive outlooks. New construction was muted, while overall asset values declined. Although office utilization remained low, high-quality space was still in demand, as highlighted by some significant lease deals.
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Feb 25 2025
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