Hamilton condo towers on Slate’s busy dev. slate

RENX  Residential  •  Condominiums  •  Ontario

Slate Asset Management will launch sales this fall for its first multiresidential development in Hamilton, known as Corktown.

The rise of the daughters in Canada’s RE dynasties

RENX  Residential  •  Human Resources  •  National

Three female members of prominent families in the Canadian development industry shared their experiences at an Urban Land Institute Toronto event at Toronto Region Board of Trade.

Sens reach deal to build arena at LeBreton Flats

Commercial  •  Ottawa Business Journal  •  CTV  •  Ottawa Citizen

Ottawa’s National Capital Commission announced Thursday a group led by the Ottawa Senators is the preferred bidder for LeBreton Flats and has signed a memorandum of understanding for the development of a “major event centre.”

TransLink set to launch development arm

Residential, Commercial  •  Daily Hive  •  CBC

In a bid to diversify its revenues, TransLink has begun the formal process of establishing its for-profit development arm. TransLink intends to build residential, commercial or mixed-use developments near its public transit infrastructure through public and private sector partnerships.

Amazon’s Toronto Tech Hub growing again

Commercial  •  Daily Commercial News

Amazon Canada has inaugurated the newest addition to its Toronto Tech Hub, unveiling 130,000 new square feet of office space at 18 York St. to bring its total Toronto tech centre commitment to 350,000 square feet and counting.

HCL expands Vancouver office; to hire 80 more workers

Commercial  •  Business In Vancouver  •  Vancouver is Awesome

Add one more tech company to the ever-growing list of foreign firms expanding in Vancouver. Indian multinational HCL Technologies Ltd. revealed Thursday it’s taking over another 9,000 square feet at its existing office on 580 Granville St.

Van. investment sales surge 60% Y-O-Y

Commercial  •  Western Investor

Strong activity drove a dramatic increase in investment sales across Greater Vancouver in Q1, according to Altus Group data. A total of $4.9 billion worth of transactions took place on a volume of 733 transactions in Q1, a 60 per cent year-over-year increase.

Morguard predicts strong investment sales during 2022

Commercial  •  Daily Commercial News

Morguard’s Canadian Economic Outlook and Market Fundamentals Report highlights the continuing effect of inflation and predicts strong investment property sales for the rest of the year. Morguard notes consumer price growth reached a 30-year high in Q1.

Krome’s ‘common sense approach’ to building retrofits

Residential, Commercial  •  Sustainable Biz Canada

Since founding Krome Services Inc. in 2016, Sandrine Tremblay’s green retrofitting company has worked on over 60 buildings — with 35,000 tonnes of carbon dioxide equivalent (CO2e) reductions to show for it.

The Industrial Real Estate Show › Podcast: Preparing for future technology in industrial real estate

Chad Griffiths: Partner, NAI Commercial

Wpg. approves tax deals for urban reserve, HBC redev.

Residential, Commercial  •  CBC

Treaty 1 Development Corporation and the Southern Chiefs Organization took another step toward redeveloping on historic lands after Winnipeg council on Thursday unanimously passed tax agreements for an urban reserve and for the former Hudson’s Bay building.

Stone, Starlight Capital transaction open until June 30

Residential, Commercial  •  Globe Newswire  •  Business Wire

Starlight Capital Investments announced Stone Investment Group had not yet satisfied the closing condition to maintain a minimum of $630 million of AUM to complete the transactions pursuant to its arrangement agreement. The Stone offer remains open for acceptance until June 30.

Broadway Plan comes up short: Developers

Residential  •  Globe and Mail  •  RENX

The City of Vancouver approved a potentially transformational plan aimed at providing tens of thousands of new rental apartments along its new subway line. However, the Broadway Plan’s unprecedented protections for existing renters is making developers dubious about building.

Gupta submits revised mixed-use complex proposal

Residential, Commercial  •  Urban Toronto

The Gupta Group has submitted a revised Site Plan Approval for 4050 Yonge St. in North York. Gupta seeks to build a mixed-use complex consisting of condo, hotel, institutional, office and retail spaces within 28- and 14-storey buildings connected by a podium.

Nearly half of Canadians expect to remain tenants

Residential  •  Globe and Mail (Sub. required)  •  Canada Newswire  •  CP 24

Almost half of Canadians who rent expect to continue doing so indefinitely and aren’t sure when they’ll be able to get into the housing market, says a survey by Canada Life. It cites a lack of cash, fear and uncertainty.

Luxury homes lead price declines in Metro Vancouver

Residential  •  Western Investor

Median home prices in the most exclusive communities of Metro Vancouver have seen substantial drops over the past year, according to a new study by HouseSigma, while overall Greater Vancouver home prices have been wafting downwards for five months.

Brookfield hotel REIT sues over denied claims

Commercial  •  The Real Deal

Hospitality Investors Trust, a hotel investor bankrupted by the pandemic and taken over by Brookfield Property Group, is taking its six insurers into court over COVID-related losses. The private REIT owns hotels branded by Hilton, Marriott and Hyatt.

Yelp closing New York, D.C., Chicago offices

Commercial  •  Bisnow

Yelp is closing three offices in major U.S. cities and shifting to a fully remote workforce, CEO Jeremy Stoppelman announced Thursday. The company is shuttering offices in New York, Chicago and D.C., while keeping a reduced footprint in Phoenix.

New condo coming to Florida collapse site

Residential  •  Newsweek

Today marks a year since a 12-storey condominium partially collapsed in South Florida, killing 98 people. Now, in its first foray into the U.S. real estate market, DAMAC Properties is planning to build an “ultra-luxurious” Cavalli-branded condominium on the site.

Average long-term U.S. mortgage rates inch up to 5.81%

Residential  •  Globe and Mail (Sub. required)  •  Globe Newswire  •  The Real Deal

Average long-term U.S. mortgage rates inched up this week following last week’s mammoth jump, the largest in 35 years. Mortgage buyer Freddie Mac (FMCC) reported Thursday that the 30-year rate ticked up to 5.81 per cent this week, from last week’s 5.78%.