New stores, more e-commerce: Empire’s $2B plan

RENX  Commercial  •  Industrial, Retail  •  National

Empire (EMP-A-T), the owner of the Sobeys, FreshCo and Farm Boy banners, plans to spend $2 billion during the next three years to grow its store network, build new e-commerce fulfillment centres and “win” the battle for online grocery market share.

Moncton OK’s Cordova’s eight-building development

Residential, Commercial  •  CBC

Moncton council has approved Cordova Realty‘s plans to build six multi-unit apartment buildings and two townhouse buildings on a 13.2-acre site in the city’s booming northwest. Two of the multi-unit buildings would include commercial space.

Van. approves controversial 28-storey rental tower

Residential  •  Business In Vancouver  •  CBC  •  Vancouver Sun

Vancouver city council has approved Jameson Development Corp.‘s proposal for a controversial 28-storey rental tower to be built on West Broadway that pitted neighbours opposed to its height against people on moderate incomes searching for a place to rent.

GWL VP Wendy Waters discusses future of office

Commercial  •  REALtalk: Episode 7  •  RENX

PODCAST: On this episode of REALtalk, Wendy Waters, vice-president, Research Services & Strategy at GWL Realty Advisors, joins REALPAC CEO Michael Brooks to discuss returning to the workplace, the near future, overcoming pinch points, and a post-COVID world.

Altree revises two-building Scarborough project plan

Residential, Commercial  •  Urban Toronto

Altree Developments has revised its plans for a two-building condominium development at 1625 Military Trail. The revised proposal maintains the eight-storey buildings but the number of units has been reduced from 620 to 578 and the gross floor area from 424,000 to 399,000 square feet.

Revised plan submitted for Fashion District tower

Residential, Commercial  •  Urban Toronto

A proposed condominium development in Toronto’s Fashion District has evolved. The planned architectsAlliance-designed tower remains 19 storeys, but the number of units have been reduced from 139 to 136 and the gross floor area has been reduced from 114,000 to 104,000 square feet.

Value: Weighed and Measured › 9 lessons from the pandemic; or, the more things change…

John Clark: Vice President , The Regional Group of Companies Inc

Azure proposes to add to planned mixed-use tower

Residential, Commercial  •  Ottawa Business Journal

Azure Urban Developments is seeking to add two extra floors to an earlier proposal to build a 23-storey mixed-use tower on a vacant Ottawa lot after acquiring additional property near the original site. The original proposal called for 241 residential units.

Quest carbon capture facility ahead of expectations

Commercial  •  Sustainable Biz Canada

The Quest carbon capture and storage facility near Fort Saskatchewan, Alta., has captured hundreds of thousands of tons more carbon than forecast, and operates at a 35 per cent lower cost than anticipated, according to Shell Canada Ltd., data.

BIA joins fight against 12-storey Calgary development

Residential, Commercial  •  Calgary Herald  •  Calgary Herald

The Inglewood BIA has joined thousands of others in opposing Rndsqr’s proposed 12-storey mixed-use building that would be approximately double the height currently allowed by land use bylaws in the neighbourhood. The development would be known as RNDSQR Block.

Granite an outperforming REIT with a double-digit gain

Commercial  •  Globe and Mail (Sub. required)  •  RENX

Granite Real Estate Investment Trust’s (GRT-UN-T) unit price is up 11 per cent year-to-date. The REIT offers investors a yield of four per cent and has a conservative payout ratio and healthy balance sheet.

REIT second-quarter financial results

Commercial  • 

Choice Properties REIT, (CHP-UN-T), Canada Newswire

Canada No. 5 on global transparency index

Residential, Commercial  •  REMI Network

Ranked fifth out of 99 countries, Canada once again places in the top tier of “highly transparent” nations in the 2020 edition of the JLL/LaSalle Global Real Estate Transparency Index, plotting the comprehensiveness, consistency and accuracy of reporting requirements and options.

Distress mounts in U.S. CRE market

Commercial  •  Bloomberg

U.S. transactions fell 68 per cent in the second quarter across all CRE property types compared to 2019 as potential buyers and sellers remained far apart on the prices of buildings, according to data released Wednesday by Real Capital Analytics.

WeWork rival Knotel trying to raise $100M

Commercial  •  Forbes

Flexible office startup and WeWork rival Knotel is attempting to raise as much as $100 million, according to three sources. The company, which has previously been valued at a reported $1.6 billion, faces a decimated real estate market, particularly in the U.S.

Eldorado, Caesars Entertainment close $17B merger

Commercial  •  CP Executive

Caesars Entertainment Corp. and Eldorado Resorts Inc. have completed their $17.3-billion merger, creating the largest casino and entertainment company in the world that will now be known as Caesars Entertainment Inc.

Some nursing homes face insurance roadblocks

Residential  •  CBC

Families of Nova Scotia long-term care residents may not be able to quickly take advantage of easing visitor restrictions, as some facilities face insurance issues they worry could make them liable for lawsuits if COVID-19 were to spread among residents.

New rent rules could lead to flood of evictions: Advocates

Residential  •  Toronto Star

Renters may be subjected to “rubber stamp” evictions during the pandemic because of changes to repayment plan rules contained in proposed Ontario legislation, advocates say. Bill 184, the Protecting Tenants and Strengthening Community Housing Act, was introduced in mid-March.

Leafs’ Marner invests in T.O. startup Justo

Residential  •  Globe and Mail (Sub. required)

Real estate startup Justo Inc. is getting a funding assist from a group of investors that includes all-star Toronto Maple Leafs forward Mitch Marner. Marner turned 23 in May and signed a six-year US$65.358-million NHL contract prior to the 2019-’20 season.

Windsor buildings to be repurposed as apartments

Residential, Commercial  •  Windsor Star

Downtown Windsor’s historic Canada Building and a former Knights of Columbus building that has been vacant for about a decade will be redeveloped to create 106 new apartments in the city’s core. The combined value of the two projects is $21 million.