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Apartments+retail: Recipe for success on Calgary's 17th Avenue S.W.
Apartments+retail: Recipe for success on Calgary's 17th Ave.
Calgary developer Frank Lonardelli sees a void in the city for purpose-built residential rental buildings which also feature street-front retail. A void he intends to help fill.
Montreal's Alre builds foothold in St. John's with office, retail
Montreal-based Alre Properties has spent $25 million to build a 45,000-square-foot office-retail building on the oldest street on the continent in St. John’s, N.L.
Ottawa approves zoning amendment for 4 proposed towers
Ottawa city council has approved a zoning amendment to allow for up to four residential towers as high as 35 storeys tall to be built near Petrie Island in Orléans. The proponent for the project is a Quebec numbered company.
Western hotel operators hopeful after successful season
A successful tourism season has Western Canadian hoteliers looking to build on the lessons of the past three years as a recession looms. Vancouver led the country with an average occupancy rate of 70.3% in 2022's first nine months.
Facebook to shrink real estate footprint
Founder and CEO Mark Zuckerberg said in his Wednesday note to employees regarding the company's mass layoff that Facebook's "real estate footprint" will shrink, meaning offices will close or space will be reduced.
Musk bans remote work at Twitter in first email to staff
New Twitter Inc. owner Elon Musk emailed his workers for the first time late Wednesday to prepare them for “difficult times ahead” and ban remote work unless he personally approved it.
 | NORR Transforming office buildings to livable spacesThe pandemic has been a key driver for reimagining our relationship with the built environment and is presenting new opportunities across portfolios and sectors. With a surplus of office space resulting from evolving workplace strategies, owners in conjunction with teams. Sponsored by: NORR |
JD Sports to open 15 more stores in Canada in 2023
JD Sports, a sports fashion retailer, is opening its 10th location in Canada and is looking to open around 15 more in 2023 – including expanding into the Quebec market.
Romspen halts payouts amid liquidity crunch
Canadian real estate lender Romspen Investment Corp. has halted redemptions on its largest fund after a number of borrowers stopped making payments. The Romspen Mortgage Investment Fund had $2.8B invested in 134 mortgages at the end of June,
PCL earns LEED certifications at new GTA hospitals
PCL Constructors Canada has achieved LEED certifications at two Ontario hospitals, trailblazers in a sector notorious for the difficulty in achieving energy efficiency.
REIT third-quarter financial results
Choice Properties REIT, (CHP-UN-T), Business Wire
Crombie REIT, (CRR-UN-T), Canada Newswire
Granite REIT, (GRT-UN-T), Business Wire
Inovalis REIT, (INO-UN-T), Business Wire
InterRent REIT, (IIP-UN-T), Business Wire
PROREIT, (PRV-UN-T), Canada Newswire
Summit Industrial Income REIT, (SMU-UN-T), Canada Newswire
Brookfield writes down value of Canary Wharf stake
Brookfield has marked down the value of its stake in the Canary Wharf estate in east London by $311 million Cdn as its real estate portfolio is impacted by the rising cost of debt.
Ivanhoé wants to double allocation to APAC real estate
“We have these ambitions for our allocation to Asian real estate to at least double in size over the next few years,” George Agethen, executive vice-president and co-head of Asia-Pacific at Ivanhoé Cambridge, said in a recent interview.
PREIT to explore possible merger, sale of best malls
Even as many of its malls remain profitable, PREIT is running out of time to get out from under its massive debt. The Philadelphia-based REIT is exploring selling some of its best malls or the company itself,
Life sciences growth plateaus as supply exceeds demand
Life sciences employment increased 5.4% year-over-year with 105,000 new jobs nationwide, but remained mostly consistent with April's figures, according to CBRE's Q3 U.S. Life Sciences Report.
Quebec prices expected to remain above pre-COVID levels
Housing price drops will continue in Quebec due to the rise in interest rates, but will remain above the pre-pandemic level, predicts Hélène Bégin, senior economist at Desjardins Group.
Rate hikes add note of hesitation to GTA market
The Toronto-area fall real estate market is entering the final stretch of 2022 with dispirited buyers, a lack of inventory and the table set for an interest rate hike in December. The cautious mood in November follows a sombre October.
Calgary proposes 4.4% property tax hike
The City of Calgary released recommendations for its four-year budget cycle on Tuesday, proposing a 4.4 per cent property tax increase for 2023, and asking residents to pay more for police, fire and transit services.
Waterloo region real estate market returning to 'balanced state'
After drastic influxes in the market during the pandemic, the real estate market in Waterloo region is "going back into a more balanced state" mainly due to rising interest rates, says University of Guelph real estate professor Paul Anglin.
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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