New infra, new growth: Ottawa developments worth billions

New infra, new growth: Ottawa developments worth billions

Ottawa can no longer be considered a city which is poised for growth. With a slate of ongoing developments already underway, plus several more in the pipeline, the nation’s capital is experiencing a near-unprecedented amount of real estate investment.

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Vancouver’s Railtown begins its dramatic transformation

Construction has started on the first new building in 50 years in Vancouver’s Railtown district, which will see a surge in development after the city enacted more flexible zoning for the former manufacturing hub. Rendition Developments broke ground on Bench, a six storey, 35,000-sq.-ft. office and light manufacturing building.

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CIBC Square South Tower 96% leased: Ivanhoé Cambridge

The first of two office towers in the massive CIBC Square development in downtown Toronto is now almost fully leased. The 81 Bay Street tower is “plus or minus 96 or 97 per cent leased,” says Jonathan Pearce of Ivanhoé Cambridge. CIBC Square is being developed by Ivanhoé Cambridge and Houston-based Hines.

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The People Space: Dream, MDC, FRPO and other appointments

Two of Dream’s REITs have new chief financial officers at the helm this week. Jay Jiang was appointed the CFO of Dream Office REIT, replacing Rajeev Viswanathan, who moved over to take a similar position with Dream Global REIT. The moves were precipitated by the departure of Tamara Lawson from Dream Global REIT. Lawson left to pursue another opportunity, the trust said in a release.

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Minto, Northview compare apartment strategies at RealREIT

Minto Apartment REIT raised $200 million in its initial public offering (IPO) in July, and chief executive officer Michael Waters outlined why the launch was a success at the RealREIT conference at the Metro Toronto Convention Centre on Sept. 6. “What set us apart is the quality of our portfolio,” said Waters.

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Peak Power signs Starlight, partners with BGIS, Sidewalk

Toronto-based Peak Power Inc. has opened offices in Boston and New York City and more than doubled its staff to 25 over the past year, as its software and solutions to provide electricity savings gain in popularity. Peak Power offers a range of services, including project development, construction, software, financing, operations, and maintenance.

Sustainable Biz Canada

Convenience store shakeups across Saskatoon

Have you noticed any changes in the convenience store staples in Saskatoon? There are a few changes happening which are worthy of mention. The Mac’s chain is not closing, but it is taking on a new name. Owned and operated by Alimentation Couche-Tard since 1999, the stores are being rebranded to Circle K.

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Six months ago: M+H Properties buys plazas, strives to become REIT

M+H Properties Group has acquired two Ontario shopping plazas from Crombie REIT in what it considers to be a year where it will take a big leap forward. “We’re starting to take a look at more portfolios,” said Brad McDonald, a managing partner in the commercial real estate investment company along with Don Hughes and Jean Deschenes.

Property Biz Canada

One year ago: Bentall Kennedy JV builds Calgary spec industrial

Calgary’s first major speculative industrial development since 2015 is a clear sign the city has come out of its economic doldrums and is on the path of recovery, backers say. Bentall Kennedy, partnering with the Highfield Investment Group and Hillwood, is moving forward on a 400,000-sq.-ft. facility in Balzac just north of the city.

Property Biz Canada

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