“It’s a little surreal, I’d have to say, but it’s good” is how Primaris REIT (PMZ-UN-T) CEO Alex Avery described his feelings after the trust was spun off by H&R REIT as an independent publicly traded entity on Dec. 31.
Parallax has proposed a 79-storey tower that would replace several low-rise buildings at 83-95 Bloor St W. The IBI Group-designed tower would rise 890 feet and include 1,118 residential units in a mix of 444 studio, 377 one-bedroom, 184 two-bedroom and 113 three-bedroom suites.
Wesgroup is proceeding with a development application for a 28-storey tower at 3480 E. Kent Ave. S. in Vancouver’s River District. The design, by Boniface Oleksiuk Politano Architects, calls for a 300-foot tower with 314 units and ground-floor retail.
A $300-million recreation complex could anchor future development on government-controlled Ottawa land. Engineer Peter Lawrence and a team of supporters propose a National Aquatics Complex and he’s been having conversations with the National Capital Commission about land near Hurdman Station.
Toronto-headquartered CentreCourt, along with IBI Group and GBCA Heritage Architects, are taking significant steps to honour the legacy of renowned Edwardian-era architect John M. Lyle at their new 54-storey, 681-unit 252 Church condo project, which is scheduled to launch soon.
Lifetime Developments, in partnership with Pinedale Properties, has announced XO2 Condos, the second building of its development project in Toronto’s King West neighbourhood. The second phase, with 410 suites and 19 storeys, will stand northeast of the first phase — XO Condos.
Financial-services cooperative Desjardins Group‘s network of Caisses populaires, or credit unions, has had a direct hand in Quebec’s emergence of bold architectural statements in the modernist vein and helped nurture a cohort of promising homegrown architects.
Equitable Bank says it has become the first Schedule I Canadian bank to quantify its entire Scope 3 greenhouse gas (GHG) emissions portfolio, reflecting its commitments to sustainability and transparency.
U-Haul has named Alberta as the country’s top growth province for 2021 as it netted more one-way truck customers than any other province, followed by British Columbia and Ontario, according to the company’s collection of migration trends for the year.
Cineplex Inc. (CGX-T) is temporarily laying off 6,000 part-time employees due to mandated closures of its venues amid surging COVID-19 cases caused by the Omicron variant, the Canadian cinema operator said on Thursday.
Canadian Grocer reached out to Longo’s president and CEO Anthony Longo and The Sweet Potato’s chief executive officer Digs Dorfman and asked them to share their outlooks for the year ahead.
Real estate podcasts
Ray Wong, Altus Group: 2021 year-end biggest deals, CRE Podcast
David Cohen, consultant, author: The great resignation, REALtalk Episode 30
Dave Earle, BC Trucking Association: Supply chain challenges, The Construction Record Episode 148
In a milestone deal, CBRE Investment Management is set to acquire a $4.9 billion global logistics portfolio from Dallas-based Hillwood Investment Properties. Comprising 57 assets across 28.4 million square feet, the portfolio includes assets in both the U.S. and Europe.
Flexible office operators WeWork and Launch Workplaces said they experienced strong growth last year as the hybrid work shift led office tenants to seek more flexible options. Experts believe that demand will continue to surge in 2022.
While the cost of office cleaning and maintenance dropped significantly earlier in the pandemic when workers went remote en masse, 2022 is likely to see that cost increase again as more and more employees head back to the office.
The construction economies of the U.S. and Canada are moving on a forward trajectory but at different speeds, according to a series of 2022 economic outlooks. Canada is expected to trail the U.S. construction recovery largely due to supply chain issues.
The average assessed value of condominiums jumped by anywhere from seven to 29 per cent across 19 jurisdictions of British Columbia’s lower mainland in the 12 months between July 1, 2020 and 2021. Notices are now in the mail to property owners province-wide.
Ottawa’s real estate market set new price and sales records in 2021 despite a December slowdown. The average residential sale price in Ottawa in 2021 was more than $719,000, a 24 per cent increase from 2020, the Ottawa Real Estate Board said Thursday.
According to Michaël Simard, a senior economist responsible for market analysis at the Quebec Professional Association of Real Estate Brokers, Montreal housing affordability has become a serious concern that may put a cap on how much higher prices can go.
Toronto’s real estate market wafted toward the end of 2021 at a gentle pace. However, as the whirling subsided, buyers and sellers were reaching agreements – even on Christmas Day, says Elli Davis, an agent with Sotheby’s International Realty Canada.