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905 supplants 416 as market of choice in GTA's slow condo sector
905 supplants 416 as market of choice in GTA's condo sector
The 905 has supplanted Toronto proper as the region’s hub of condominium development, largely owing to the latter’s exorbitant land costs and surging tax regimes. Stubbornly elevated interest rates aren’t helping the 416, either.
Boardwalk acquires 3 Calgary apartment bldgs. for $118.2M
Boardwalk REIT has announced a series of apartment building acquisitions in Calgary comprising 324 units for $118.2 million. The largest of the properties is Elbow 5 Eight, an under-construction mid-rise with 255 apartments.
Trio of project settlements to transform Danforth and Main
Transformation is on the horizon at the southeast corner of Danforth Avenue and Main Street in Toronto's east end, as city council approved a settlement offer package involving three abutting sites.
Greater density coming as Delta adopts new OCP
Council gave final approval to Delta's new Official Community Plan (OCP) Monday, allowing greater density in most residential and commercial areas of the city. The new OCP incorporates three major changes intended to support development.
Burnaby will need 22 million sq. ft. of commercial space
As Burnaby continues its work on Burnaby 2050, an official plan to guide growth over the next 25 years, the city commissioned a study using employment growth projections for 2051, which found employment space needs to increase 26.9 per cent.
Van. retail space demand strong despite economic uncertainty
The Vancouver retail market is seeing increased demand even with economic uncertainty. Limited availability and rising rents are driving retailers to secure leases quickly, says a new market report by commercial real estate firm JLL.
Buyer found for Vandyk’s King’s Mill site under receivership
One of 10 Vandyk Group sites in the Toronto area approved for sale by Ontario courts in March due to receivership has found a buyer. The King's Mill is a partially constructed, 10-storey mid-rise.
Canada’s single staircase regulations under review
As more multi-level residential developments are built to meet a global housing shortage, the question arises regarding whether buildings over a certain height should have two separate staircases. In Canada, changes to single egress staircase restrictions are under discussion.
Housing development planned for Stanfield's Truro, N.S. site
Stanfield’s is looking to expand beyond underwear and into housing. A development application submitted to Truro's Planning Advisory Committee outlines plans for a mixed-use development with 523 dwellings and 5,165 square metres of office and commercial space in seven buildings.
Platinum Group proposing 30-storey tower in Surrey, B.C.
As construction continues on the Surrey-Langley extension of the Expo Line SkyTrain, the pace of development along the Fraser Highway corridor will undoubtedly continue picking up, particularly with the province's transit-oriented development legislation (Bill 47) also now in effect.
Gay Lea finds buyer for N. Ont. Thornloe Cheese factory
Supporters of the Thornloe Cheese factory in Northern Ontario's Timiskaming district are optimistic now that it's about to have a new owner, after shutting down most of its operations last fall.
$1B committed to refurbish hydroelectric generating stations
Ontario has committed almost $1 billion in investment to refurbish eight hydroelectric generating stations in Eastern Ontario. This infrastructure program would secure 1,617 megawatts (MW) of clean electricity generation, equivalent to powering 1.6 million homes.
Port, rail line upgrades boost northern Manitoba’s prosperity
The Arctic Gateway Group has made significant strides in its revitalization of the Hudson Bay Rail line and Port of Churchill. The rail line suffered from many years of neglect and it needed significant improvement.
$200M Holdom overpass to start construction in Burnaby
Relief is in sight for drivers and cyclists who get stuck behind trains at Douglas Road in Burnaby. The Vancouver Fraser Port Authority plans to begin construction on the Burnaby Holdom overpass project late this year.
Howard Marks: 70% office discount might not be enough
Howard Marks has built his billions on bargain hunting, but the steep discounts in the office market still aren't enough to convince him. “Let's say you are getting 70 per cent off. Is that enough?” Marks told Bloomberg.
U.S. commercial property crash to deepen pain elsewhere
Distressed investors see one of the best opportunities in a generation to buy troubled U.S. real estate assets, as the commercial property crash continues. Private equity firms are positioning for advantage, with billions ready for property investment targetting North America.
Distressed properties see 43% average valuation drop from issuance
Conditions are getting tighter in U.S. commercial real estate. The Mortgage Bankers Association said outstanding commercial mortgage debt grew in the first quarter of 2024 and fewer loans are getting paid off or refinanced, leaving debt sitting on the books.
W. P. Carey announces departure of president John Park
U.S net lease REIT W. P. Carey (WPC-N) has announced John Park will step down as president of the company effective Sept. 30. Park will continue to serve as a senior advisor through February 2025.
Supermarket values misunderstood, sector's big investor says
The institutional property investment market is mispricing large supermarket assets because of a misunderstanding about the key metrics of rental and capital values, according to the sector’s major specialist investor.
U.K. builder Bellway makes C$896 million takeover bid for Crest
Bellway has made a new offer to buy Crest Nicholson Holdings in what would be one of the U.K.’s biggest homebuilder acquisitions. The offer, which values Crest at C$896 million, comes after it rejected Bellway’s previous offer.
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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