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Wall buys Vancouver redev. site, plans 32-storey apartment tower
Wall buys Vancouver redev. site, plans 32-storey apt. tower
Wall Financial Corporation has purchased a 30-unit rental apartment at 1065 Pacific St. in Vancouver, with the intent of rezoning and redeveloping the 12,969-square-foot site with a new 32-storey rental building.
Alignvest acquires new Halifax student housing facility
Alignvest Student Housing REIT has acquired a purpose-built student accommodation property on Seymour Street in Halifax from Montreal-based student and rental housing developer Werkliv.
Coromandel seeks creditor protection over $700M in debt
Coromandel Properties Ltd., a Vancouver development company with a massive portfolio of unfinished real estate projects, is seeking creditor protection, citing more than $700 million in outstanding debt. Coromandel is struggling to make payments on its 16 properties.
B.C. keeps failing renters: Stop blaming institutional investors
GUEST SUBMISSION: When it comes to housing, we’ve done one thing well in B.C. — figure out who to blame for our failures. We’ve pointed the finger at speculators, landlords, developers, even everyday homeowners.
University of Manitoba approves redev. of golf course
A plan to transform a former golf course owned by the University of Manitoba into a urban community with 11,000 residential units, retail spaces, services and 21 acres of parklands was approved by the board of governors on Jan. 31.
Transit to shape Vancouver office development in 2023
The value of time and the costs of commuting will shape the future of Vancouver office development, said Rosemary Feenan, QuadReal executive vice-president of research. Accessibility to transit will be of paramount importance in getting employees back into the office.
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Kelowna's Ramada hotel on market for $32M
The Ramada by Wyndham Kelowna Hotel and Conference Centre has been put on the market for $31,999,000. Its last known owner was RPB Hotels and Resorts, which also has Penticton Lakeside Resort in its portfolio.
Canopy Growth to lay off 800, shutter main facility
Canopy Growth Corp. (WEED-T) will lay off 800 workers as part of a transformation plan that will see the company close its hallmark 1 Hershey facility in Smiths Falls, Ont., and consolidate some of its cultivation operations.
Hudson’s Bay to shut historic Banff store
The Hudson’s Bay store in Banff will be shuttering in August. The store, the smallest in the chain, has a prominent location on the main shopping street in the tourist town. HBC has operated Banff department stores since 1940.
Korean video game maker opening Montreal studio
Krafton, the Korean video game conglomerate behind global success PUBG, is opening a studio in Montreal. Its mission: to bring to life a new blockbuster franchise based on a series of fantasy novels by Korean author Lee Yeong-do.
Montreal Mini-Storage opens Hochelaga Maisonneuve site
Entreposage Montreal Mini- Storage (MMS) Wednesday announced the opening of its newest self-storage facility in the Montreal neighbourhood of Hochelaga Maisonneuve. The converted building will feature around 600 self-storage units ranging in size from 12-400 square feet over two floors.
Hines to exit $2.3B Russia real estate business
Global real estate investment giant Hines is exiting its Russian real estate business as international property firms navigate the complicated process of leaving the country following its invasion of Ukraine a year ago.
Supply chain rethink bolstering industrial real estate
From General Motors to Intel and US Steel, U.S. companies increasingly have been returning their manufacturing operations stateside. More than 1,800 companies re-shored their productions last year, according to a report from the non-profit Reshoring Initiative
WeWork founder returns with new venture
Adam Neumann, the disgraced founder of WeWork, revealed details about his newest venture Flow, a U.S. apartment operator expected to launch this year. In August, Flow received a $350-million investment from venture capital firm Andreessen Horowitz.
Home Capital shareholders approve Smith Financial takeover
Home Capital Group Inc. (HCG-T) shareholders approved the previously announced plan in which a wholly owned subsidiary of Smith Financial Corporation has agreed to acquire the issued and outstanding common shares of Home Capital it does not already own.
New housing listings to fall in Q1 before rebounding: TD
A new report by Rishi Sondhi, an economist with TD Economics, says Canada’s housing market will see new listings fall in Q1 before rebounding later in the year and then slowing to a more modest growth pace in 2024.
GTA needs a huge influx of rental buildings: Report
The GTA needs to double its purpose-built rental starts in the next decade to accommodate a growing percentage of tenant households, says a report by the Building Industry and Land Development Association and the Federation of Rental-housing Providers of Ontario.
BILD seeks extension on Toronto’s new vacant homes tax
David Wilkes, CEO of the Building Industry and Land Development Association (BILD), is asking the city to extend the deadline to start paying the new vacant home tax on unsold housing units from Feb. 28.
Nova Scotia amends Residential Tenancies Program
Effective Feb. 3, landlords in Nova Scotia can raise rents on any day of the year and not just on the anniversary of the day the lease began. They cannot raise rent more than once in a 12-month period.
Industry Events
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Western Canada Apartment Investment Conference
May 07 2024
Vancouver
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Edmonton Real Estate Forum
May 08 2024
Edmonton Convention Centre
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Land & Development Conference
May 28 2024
Metro Toronto Convention Centre
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Montreal Real Estate Forum
Jun 06 2024
Montreal
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Southwestern Ont. Real Estate Forum
Jun 13 2024
RBC Place London
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