GTA new homes sales plunge 40 per cent in 2018: Altus

RENX  Residential, Commercial  •  Homes, Investment  •  Toronto / GTA

Investment property sales in the Greater Toronto Area had their second-highest year ever at $21.1 billion, but the figure drawing the most attention in Altus Group’s Flash Greater Toronto Area Report is a 40 per cent decline in new homes sales during 2018.

Growing tech firm? Canada’s office markets offer best value

RENX  Commercial  •  Office, Technology  •  National, Toronto / GTA

Canadian central business district (CBD) office markets present the best value in North America for technology companies, from both labour and occupancy cost perspectives, according to research conducted by Cushman & Wakefield. A low Canadian dollar further emphasizes that advantage.

The Apartment Building Expert › Canadian apartment developers look to U.S. for future of amenities

Derek Lobo: Founder and CEO , SVN Rock Advisors Inc.

Amid record immigration, Bentall Kennedy betting on rentals

Residential  •  Bloomberg

Bentall Kennedy LP, the real estate arm of insurer Sun Life Financial Inc., is boosting its exposure to rental apartments as immigration in Toronto booms. The firm plans to increase multi-residential investments to about 15 per cent of its portfolio.

Vancouver moves forward on $3.8B subway extension

Commercial  •  Toronto Star  •  CBC

Vancouver city council endorsed a $3.8-billion plan to extend a subway line all the way to UBC, but promised to not repeat mistakes of the past when it comes to rampant land speculation and impact on businesses.

Port of Montreal proposes $500-million expansion

Commercial  •  Montreal Gazette

Canada’s largest Eastern port will consider tapping bond markets as it races to keep up with five straight years of record demand. The Montreal Port Authority will need about $500 million for a proposed expansion of container facilities.

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Is Calgary losing its status as a hub for office HQs?

Commercial  •  CBC  •  JWN

The number of employees working in head offices has dropped, as has the number of headquarters that call Calgary home. However, Calgary Economic Development says the city is still punching above its weight as a centre for corporate power.

Mixed-use to ease into GGH suburban office parks

Residential, Commercial  •  REMI Network

Suburban office parks could be opened up for modest amounts of mixed-use development if a proposed new policy is enacted in the Growth Plan for the Greater Golden Horseshoe (GGH).

How Toronto sunk its own little Venice

Residential, Commercial  •  Globe and Mail (Subscription required)  •  Toronto Sun

The first load of landfill broke the choppy, bluish-green surface of Lake Ontario in October 1969.  A few days before it opened on May 22, 1971, 2,500 schoolchildren were unleashed onto architect Eberhard Zeidler’s futuristic, 38-hectare, white-city-on-the-water to “test” its facilities.

Toronto looks to acquire Hearn generating station

Commercial  •  Globe and Mail  •  Toronto Star

Toronto City Council has voted to start talks aimed at acquiring the mothballed waterfront Richard L. Hearn Generating Station to preserve it for public use. Ontario Power Generation sold the site to a private developer for $16 million last year.

McGILL Commercial joins forces with ENGEL & VÖLKERS

Commercial  •  Canada Newswire

Quebec commercial real estate agency McGILL Commercial (specialized division of McGILL real estate) announced it is joining forces with world luxury giant ENGEL & VÖLKERS, founded in Germany 40 years ago. 

Brookfield to acquire Australia’s Healthscope for $4.1B

Commercial  •  Reuters

Australian hospital operator Healthscope Ltd said Friday it had recommended a $4.1 billion Cdn takeover offer from Canadian investment firm Brookfield Business Partners (BBU-UN-T), taking its shares to an eight-month high.

NorthWest acquires $1.2B Australian hospital portfolio

Commercial  •  Canada Newswire

NWH Australia Asset Trust, an entity of NorthWest Healthcare Properties REIT (NWH-UN-T), has entered into agreements to acquire 11 freehold hospital property assets from ASX-listed Healthscope Limited for approximately $1.2 billion Cdn as part of a sale and leaseback transaction.

AHIP completes US$4.2M renovations at two U.S. hotels

Commercial  •  Canada Newswire

American Hotel Income Properties REIT  (HOT-UN-T) announced it has substantially completed approximately US$4.2 million of renovations at the 100-room Staybridge Suites Tampa East in Tampa, Fla., and the 131-room Residence Inn Baltimore White Marsh in Baltimore.

Private pot shops in Ontario won’t be able to sell online

Commercial  •  CBC  •  CBC  •  Calgary Herald

The Ontario cannabis retail regulator says private pot retailers will not be able to offer a click-and-collect service that would allow consumers to buy online and pick it up at the physical store.

B.C.’s biggest housing spike occurring in Revelstoke

Residential  •  CBC

When Gary Sulz moved to Revelstoke, B.C., nearly 30 years ago, the Interior community along the Trans-Canada Highway had the same profile as many small towns around the province. However, the demographics of Revelstoke have changed.

Look beyond GTA to build housing plan: City of Ottawa

Residential  •  CBC  •  Financial Post

The City of Ottawa is urging the province to look beyond the Greater Toronto Area as it seeks solutions to Ontario’s affordable housing shortage. The Progressive Conservative government is currently developing an action plan to encourage more home building.

Ontario may allow disclosure of prices in bidding wars

Residential  •  CTV  •  Toronto Star

Ontario home buyers may soon be able to find out the prices and conditions of other offers in bidding wars. Currently, if there are multiple bids on a home, the broker can only disclose the number of competing offers.

New Quebec association of real estate brokers launched

Residential  •  Canada Newswire

The Quebec Professional Association of Real Estate Brokers (QPAREB) was formed on Jan. 1, bringing together more than 12,500 real estate brokers and agencies. The Greater Montreal, Quebec City and Laurentides real estate boards voted in favour of a merger.