Retail giants sign on for Marché Central’s Phase VI

RENX  Commercial  •  Retail  •  Greater Montreal

Montreal’s Marché Central, now in its sixth phase of development, has become one of Canada’s top-performing power centres due to its mix of strong tenants, a central location, high occupancy and productivity, says an executive with its owner QuadReal Property Group.

The People Space › People Space: Exec moves at Starlight, CBRE, Colliers, SmartCentres

Don Wilcox: Managing Editor, RENX

Ottawa committee approves CF’s 21-storey mixed-use

Residential, Commercial  •  Ottawa Citizen  •  RENX

Ottawa’s planning committee Thursday endorsed Cadillac Fairview‘s application to integrate the 150-year-old City Registry Office at 70 Nicholas St. — currently vacant — into the base of a 21-storey, 288-apartment development with ground-level shopping and a new entrance to CF Rideau Centre..

Van. office market steady despite AAA vacancies: AY

Commercial  •  STOREYS  •  RENX

Despite burgeoning remote and hybrid work models, Metro Vancouver’s office market is holding steady, according to a new half-year report by Avison Young, which found the vacancy rate has moved from 8.0% at the end of 2021 to 7.8% as of June 31.

Dream sells 11-storey Saskatoon building for $14M

Commercial  •  Western Investor

Dream Office REIT (D-UN-T) has sold Princeton Tower, an 11-storey class-A office and retail building in downtown Saskatoon, for $14 million to local developer, Duchuck Holdings. The tower offers 128,693 square feet of office space and 15,179 square feet of ground-level retail.

‘The office is not dead’: Colliers executive

Commercial  •  STOREYS

While work-from-home mandates led to an initial hollowing out of downtown cores, the last two years have spurred an evolution in the concept of the workplace, says John Duda, president of Real Estate Management Services Canada at Colliers.

Madison Group proposes 53-storey mixed-use

Residential, Commercial  •  Urban Toronto

Madison Group has proposed a 53-storey mixed-use tower designed by BDP Quadrangle at 15 Toronto St. on the edge of Toronto’s financial district. The tower would include 296 residential units, two storeys of retail/restaurant space and eight storeys of office space.

Stafford proposes 19-storey mixed-use in Forest Hill

Residential, Commercial  •  Urban Toronto

Stafford Developments proposes a 19-storey mixed-use condominium building at 429 Walmer Rd. in Toronto’s Forest Hill South. The IBI Group-designed building would consist of 87 residential units – 28 one-bedrooms, 37 two-bedrooms and 22 three-bedrooms – and 2,153 square feet of commercial space.

H-Mart will anchor M2M community in North York

Residential, Commercial  •  REMI Network

Aoyuan International’s upcoming M2M mixed-use community of nearly nine acres in North York will welcome Asian supermarket H-Mart as its anchor tenant. The Toronto outpost of the world’s largest Korean-American supermarket chain will span 36,000 square feet.

Dollarama hikes full-year sales forecast

Commercial  •  Globe and Mail (Sub. required)  •  Canada Newswire  •  Financial Post

Montreal-based Dollarama Inc. (DOL-T) has boosted its sales-growth forecast for the year to 6.5 to 7.5 per cent as inflation drives Canadians to change their shopping habits and visit discount retailers more frequently.

Dream, NorthWest REITs attractive for long term

Residential, Commercial  •  Motley Fool

Dream Industrial REIT (DIR.UN-T) stock earns a 5.9% dividend yield today. NorthWest Healthcare Properties REIT (NWH.UN-T) provides the physical real estate that accommodates healthcare activities around the globe. It owns medical office properties, hospitals and life science buildings.

Canada to help fund ISO 50001 building energy standard

Residential, Commercial  •  Sustainable Biz Canada

The Canadian government is accepting proposals to financially support building projects that will adhere to stronger energy efficiency standards to lower greenhouse gas emissions.

U.K. Royal property shines light on continuity, change

Residential, Commercial  •  Bisnow

As news of Queen Elizabeth II’s death broke, shoppers on London’s Regent Street strolled in and out of stores and workers bustled to and from the offices at the heart of the British monarchy’s extensive and uniquely structured property empire.

Swedish landlord foreshadows trouble for European RE

Residential  •  Bloomberg

A Swedish landlord’s stock has fallen by three quarters this year and investors are betting the worst isn’t over. Samhallsbyggnadsbolaget i Norden AB (SBB) has become Europe’s second-most shorted stock, with bearish bets running at 35% of its free float.

WeWork launches global hybrid work initiative

Commercial  •  Bisnow  •  Business Wire

WeWork (WE-N) has launched a global partnership with 11 cities across the world, including London, Singapore, New York, Chicago and San Francisco, in an attempt to bolster return-to-office initiatives and incentivize hybrid work opportunities for businesses.

U.S. apartment investment index drops 11.7% in Q2

Residential  •  Globe Newswire  •  Globe Newswire  •  Business Wire

The Freddie Mac (FMCC) Multifamily Apartment Investment Market Index (AIMI) fell 11.7% in Q2 2022, with the index down 17.9% compared with the second quarter of 2021. AIMI decreased nationwide and in all 25 markets on both a quarterly and annual basis.

OSFI won’t loosen mortgage standards as rates rise

Residential  •  Financial Post

The head of the Office of the Superintendent of Financial Institutions (OSFI) said it will not heed calls to loosen mortgage underwriting standards as interest rates rise, making qualifying to buy a home or renew a mortgage more onerous.

Vancouver resale condos a better deal: Study

Residential  •  Western Investor  •  Daily Hive

A shortage of new condominiums and townhouses is looming in Metro Vancouver which means resale condos may represent not only lower prices but the only option in some markets, according to Engel & Völkers‘ Mid-year 2022 Luxury Real Estate Report.

Halifax home prices fall for fourth consecutive month

Residential  •  Huddle

Real estate prices in Halifax dropped again in August, marking the fourth consecutive monthly decrease. Nova Scotia Association of Realtors data notes the average Halifax home sold for $472,473 in August, compared to $506,639 in July, nearly a seven per cent drop.

Yukon’s housing situation has never been this bad

Residential  •  CBC

Housing prices are at or near all-time highs in the Yukon and rental units have never been harder to find. The housing crisis is nothing new, but it’s never been this bad, says Kwanlin Dün First Nation Chief Doris Bill.