Immostar builds $130M MU ‘rental condos’ in Que. City

RENX  Residential  •  Apartments  •  Quebec City

So-called “rental condos” are the way to go in the Quebec City area according to André Pelchat, president and founder of Immostar, one of the provincial capital’s major residential developers.

Moody Centre redevelopment a step closer

Residential, Commercial  •  Business In Vancouver

Nine property owners have submitted an application to amend the community plan for the 20-acre neighbourhood adjacent to Port Moody’s Moody Centre SkyTrain station. The project would include up to 4,135 new homes as well as commercial and office components.

Surrey approves $692M worth of development

Residential, Commercial  •  Business In Vancouver

Surrey council has approved more than $692 million worth of development projects covering high-rise residential towers, rental apartments, townhouses and industrial warehouses. “It’s clear that there is no shortage of confidence in developing and building in Surrey,” Mayor Doug McCallum said.

Choice buys Toronto West Block, Weston Centre

RENX  Commercial  •  Office, Retail  •  Toronto / GTA

Just a week after reiterating it’s in the market for acquisitions, Choice Properties REIT (CHP-UN-T) will spend $206 million to acquire two Toronto office and retail properties from Wittington Properties Ltd.; the Weston Centre and the West Block.

Concord plans 42-storey tower in Burnaby

Residential  •  urbanYVR

Concord Pacific is planning a 42-storey tower in Burnaby’s Central Park neighbourhood. The IBI Group-designed tower will be accompanied by a six-storey, non-market rental apartment building. The tower will contain 314 market residential units, and 52 non-market rental units in the low-rise.

Qualex-Landmark plans 31-storey Burnaby high-rise

Residential, Commercial  •  urbanYVR

Qualex-Landmark is planning a 31-storey high-rise and a five-storey, non-market rental apartment building in Burnaby. The tower will include 247 strata units, and the low-rise will include 32 non-market rental units. The non-market housing component will be operated by the YWCA.

Concert submit plans for Phase 3 of The Kip District

Residential  •  Urban Toronto  •  RENX

The latest phase of Concert Properties‘ project in The Kip District community calls for one condominium and one rental building rising atop a shared underground garage, with combined total gross floor area of 608,000 square feet and 792 residential units.

Victoria’s industrial heart finds a new beat

Commercial  •  Victoria Times Colonist

Workers are repairing the old brick smokestack rising out of the historic Powerhouse building near Rock Bay in Victoria. Developer Chris Le Fevre is also working on his new Ironworks development, with 85 condominiums plus commercial space.

Small businesses call for rent relief changes

Commercial  •  Toronto Star  •  Montreal Gazette  •  Financial Post

The Canadian Federation of Independent Business is calling for changes to the Canada Emergency Commercial Rent Assistance (CECRA) program, which it says is leaving many small businesses out thanks to its reliance on landlord participation and high criteria for eligibility.

Most Que. restaurants won’t survive much longer

Commercial  •  Montreal Gazette  •  Globe and Mail

SURVEY: Fully 61 per cent of the 580 restaurateurs responding to a survey by the Association Restauration Québec (ARQ) in early July said they would be unable to carry on for longer than six months under current government-mandated conditions imposed by COVID-19.

REIT second-quarter financial results

Commercial  • 

Morguard North American Residential REIT, (MRG-UN-T), Canada Newswire

RioCan REIT, (REI-UN-T), Globe Newswire

Slate Retail REIT, (SRT-U-T), Business Wire

REIT/REOC business updates

Residential, Commercial  • 

H&R REIT, (HR-UN-T), Canada Newswire

Sienna Senior Living Inc., (SIA-T), Globe Newswire

Walmart to impose new fees on suppliers

Commercial  •  Globe and Mail (Sub. required)

Product manufacturers, food suppliers and packaged goods companies are concerned fee increases from retailers could be on the way after Walmart Canada (WMT-N) announced new fees to help offset $3.5 billion in planned investments in its stores and e-commerce network.

Amazon expands grocery service in U.K. supermarket battle

Commercial  •  MarketWatch  •  BBC  •  The Guardian

Amazon (AMZN-Q) is expanding its online grocery service in a major offensive aimed at winning more customers in the fiercely competitive U.K. grocery market. Amazon will increase capacity into more homes and offer free delivery to Prime members from Tuesday.

Starbucks ‘steadily recovering’ as stores reopen

Commercial  •  Reuters

Starbucks Corp.’s (SBUX-Q) business is “steadily recovering” worldwide as most of the coffee chain’s stores have reopened with the easing of coronavirus-led restrictions, it said on Tuesday. Shares of the Seattle-based company rose about 6.5 per cent in extended trading.

McDonald’s shares fall as sales miss expectations

Commercial  •  Reuters  •  Toronto Star

McDonald’s Corp. (MCD-N) on Tuesday reported a bigger-than-expected drop in global same-store sales as the burger chain’s restaurants across the world were shut because of the COVID-19 pandemic, limiting operations to only drive-thru and delivery.

Is real estate forecast too optimistic?: Soper

Residential  •  YouTube / Financial Post  •  Toronto Star

PODCAST: The Financial Post’s Larysa Harapyn speaks with Phil Soper of Royal LePage, and Don Kottick of Sotheby’s Canada, about the real estate forecast for Canada, and whether it’s realistic considering the continuing economic slowdown caused by the pandemic.

Small B.C. landlords call for help as expenses mount

Residential  •  Business In Vancouver

After months of missed rent payments from his tenants, Prince George landlord John Stiles is feeling the pinch, dipping into his line of credit to pay the mortgage, taxes and utilities of rental property he and his business partner own.

Quebec City June sales up 46.9% YOY

Residential  •  Montreal Gazette

Quebec City saw the biggest growth of any Canadian city with June residential real-estate sales up by 46.9 per cent to 924 dwellings from 629 in June 2019, according to data from the Canadian Real Estate Association (CREA).

New Brunswick seeing record sales numbers

Residential  •  CTV

New Brunswick’s real estate sales in June were the highest in the province’s history. According to the New Brunswick Real Estate Association, 1,230 units were sold in June, up nearly 25 per cent year-over-year. The average price was up 14 per cent to $199,327.