Stars align for purpose-built rental developers

Risk in the condo sector caused by rising interest rates and buyer reticence has, along with strong leasing fundamentals, sparked renewed interest in purpose-built rental construction.

Cricket stadium being considered for Brampton

Brampton is launching an Expression of Interest (EOI) for interested parties to submit comprehensive plans to develop a 112-acre site into a vibrant urban realm and walkable neighbourhood that includes a state-of-the-art, multi-purpose cricket facility.

Sobeys cybersecurity breach cost Empire $32M

Sobeys parent company Empire Company Ltd. (EMP-A-T) says the cost of a cybersecurity breach that hit the company in November will be larger than previously estimated, representing approximately a $32-million impact after insurance recoveries.

An entire city block, 2.83 acres, for sale in downtown Calgary

An entire city block - 2.83 acres - is for sale in the heart of downtown Calgary for a list price of $32.4 million.

Howland Green builds 'beyond net-zero' Aurora centre

Markham, Ont.,-based developer Howland Green Homes Ltd. promises to deliver beyond net-zero with buildings that produce more energy than they consume – the latest being the Wellington East business centre in Aurora, Ont., planned for completion in September 2024.

Lib Aylmer rental complex inaugurated in Quebec

Lib Aylmer, an residential complex consisting of 160 rental condominium units for residents aged 55 and older with active lifestyles, was inaugurated Wednesday in Aylmer, Que. The units range in size from studio to three-bedroom (517 to 1,318 square feet).

Choo unveils Astoria 55+ community in Ottawa

Alavida Lifestyles' Astoria, a 55+ community with 350 suites ranging from 407 to 1152 square feet, is coming to Ottawa's Central Park community with a target move-in date of August. Choo Communities is the developer behind Alavida Lifestyles.

Saskatoon's Midtown shopping centre welcomes new retailers

Saskatoon's Midtown shopping centre, managed by Cushman & Wakefield, has added eye retailer Bailey Nelson, Urban Kids, a Suzy Shier/Le Chateau combo store, Aura Hair (Salon) and a 14,000-square-foot Dollarama within the last several months.

Board of Tim Hortons franchisee group resigns

The board of a group of disgruntled Tim Hortons franchisees has resigned, after the chain’s parent company sent default notices to the restaurant owners serving on the board and terminated the franchise contract of its president.

Vancouver's Tap and Barrel expanded despite pandemic

Even as the pandemic ravaged the hospitality industry, leaving it short of supplies and staff as inflation shrink profit margins, Vancouver-based restaurant chain Tap and Barrel opened two new locations, including an 850-seat behemoth on Granville Island.

CT, Dream Industrial REIT safe buys

No matter how the housing market trends going forward, CT (CRT-UN-T) and Dream Industrial (DIR-UN-T) are two of the best REITs you could safely buy and lock in some juicy passive-income yields while positioning your portfolio for long-term capital appreciation.

REIT/ REOC fourth-quarter financial results

Automotive Properties REIT, (APR-UN-T), Canada Newswire

Flagship Communities REIT, (MHC-U-T), Canada Newswire

Invesque Inc., (IVQ-U-T), Canada Newswire

Melcor Development Ltd., (MRD-T), Globe Newswire

REIT values tumble as investors fear fallout from bank failures

The extent of the contagion of the second- and third-largest bank failures in U.S. history over the past week is still unknown, but the values of publicly traded real estate owners have already been infected.

WeWork nears deal for capital injection, debt conversion

WeWork Inc. (WE-N) struck a deal to cut about $1.5 billion of debt on a net basis and secured more than $1 billion of capital commitments as CEO Sandeep Mathrani works to push the firm toward profitability.

China real estate showing signs of recovery after slump

China’s property market is showing some early signs of a stabilization this year after the government increased support for cash-strapped developers and loosened home purchase restrictions to counter a slump.

U.S. home prices suffer first annual drop since 2012

The median U.S. home price fell 1.2% in February marking the first year-over-year decline since 2012, according to a new report from Redfin. 

Oakville promises to build 33,000 homes in nine years

The Town of Oakville says it’s committed to meeting the provincially-mandated housing target of 33,000 new units by 2032 and will review the plan and outline what they require from the province at a special Council meeting on Monday.

Homebuyers plan to return to the market in spring: Royal LePage

Sixty-two per cent of potential homebuyers who postponed their plans last year say they plan to return to the market and 26 per cent of  respondents plan to resume their search this spring, according to a report by Royal LePage.

Hit to Canadian house prices deeper than it seems

ANALYSIS: According to CREA data, the typical home in Canada has fallen by $132,000, or 15.7 per cent since February 2022. The drop is actually worse once the corrosive effect of high inflation on purchasing power is factored in. 

Surrey house down payments up more than 250% since 2020

According to Zoocasa, 10 of 18 Metro Vancouver housing markets saw increases in minimum down payments of over $100,000 from February 2020 to February 2023, with Surrey seeing the largest increase, from $74,790 to $278,060.