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Dream Impact Q4 2022 financials: Distribution cut, asset writedown
Dream Impact Q4 2022 financials: Distribution cut, writedown
Dream Impact Trust (MPTC-UN-T) will reduce its distribution by 60 per cent and a large fair value loss on a small interest in Virgin Hotels Las Vegas contributed to a $44.86-million net loss in the fourth quarter ended Dec. 31.
Gracorp, Minto partner to build Vancouver Oakridge multires
The Cambie Corridor Plan's third phase will re-shape a neighbourhood containing nine per cent of Vancouver's land mass. Gracorp and Minto are partnering on one of these projects, an 18-storey apartment building to replace three single-family homes.
Victoria approves Starlight's five-tower development
Victoria council has approved in principle Toronto-based Starlight Developments' five-tower reinvention of the Harris Green neighbourhood, but with a big reduction in parking. The project would include approximately 1,500 rental suites and more than 100,000 square feet of commercial.
 | The Apartments Broker Creating and retaining a brokerage teamRamona VadiPartner & Broker, Baron Realty |
Windsor-area sees record year in industrial/CRE activity
The new buildings and many construction sites are hints of the robust economic activity in the region, but the 2022 CBRE industrial/commercial sales statistics released last week confirmed it was a record year for Windsor.
Stacked industrial projects pose challenges in Vancouver
Cameron Archer, director of sales and marketing with Orion Construction, said stacked developments/multi-storey warehouses will be one of the backbones of navigating Vancouver's growing industrial space shortage. Challenges include a higher cost than for a traditional single-storey tilt-up building.
 | MNP Sourcing the next generation of talent in real estate and constructionSecuring top talent in real estate will come down to your ability and willingness to challenge assumptions and transform your workplace. The promising young people you want to hire expect you to provide meaningful, challenging, and non-linear career opportunities. Sponsored by: MNP |
HCRA freezing the assets of Highbridge Construction
The Home Construction Regulatory Authority (HCRA) is freezing the assets of Highbridge Construction, in the wake of the Ottawa company suddenly ceasing operations on Feb. 3. Its licence has also been suspended as the HCRA investigates.
Queen's Cross coming to CF Toronto Eaton Centre
A fresh culinary experience is coming to CF Toronto Eaton Centre with the arrival of Queen's Cross, a new chef-driven food emporium created in partnership with Oliver & Bonacini Hospitality. Queen's Cross will span 19,000 square feet and open this fall.
STM, Ivanhoé Cambridge get deal for new Metro station
After a legal battle and years of discussions, the Société de transport de Montréal (STM) has come to terms with Ivanhoé Cambridge to build a bus terminus and Metro station at the Galleries D'Anjou, a mall in Montreal's east end.
London gives green light to tower, townhomes
London city council Tuesday approved two higher-density infill housing projects in neighbourhoods now dominated by single-family homes - a six-storey, 95-unit apartment building by Copia Developments and a 10-unit townhouse development.
Jayman ups solar, cuts emissions from homes
By increasing its standard solar panel offering from six to 10 in 2023, homebuilder Jayman BUILT is able to further reduce a home’s carbon footprint and could provide up to 50 per cent in electrical savings per year.
Malls are in trouble again, offices are next
In New Jersey, lenders to Triple Five's American Dream mall are heading to court, demanding a $389 million payment on their defaulted debt. Some 25 miles north, investors are looking to foreclose on one of the country’s largest malls.
Zara boss pulls out of $793M Meta office deal
The billionaire founder and owner of fashion retailer Zara has pulled out of a $793 million Cdn deal to buy the office development that forms part of Meta Platforms Inc.’s European headquarters in Dublin.
WeWork revenue up 18% in Q4, but losses persist
WeWork (WE-N) revenue in Q4 2022 was $848 million, a year-over-year increase of 18%, though it also recorded a net loss of $527 million for the quarter. In Q4 2021, the company lost $803 million.
Four Seasons to open luxury hotel in Taiwan
Toronto-based Four Seasons Hotels and Resorts announced plans for a new luxury hotel in Taipei, Taiwan. The Four Seasons Hotel Taipei will be located in the Xinyi District, opposite the Taipei 101, one of the tallest towers in the world.
Competition Bureau probing QPAREB data-sharing
The Competition Bureau is investigating whether the Quebec Professional Association for Real Estate Brokers’ data-sharing restrictions are stifling competition in the housing market. The bureau used some documents related to its fight with TRREB in its application seeking information.
National housing strategy will climb to $89 billion: PBO
The federal government’s plan to boost affordable housing units for Canadian residents will cost more than $89 billion, according to a new estimate from the non-partisan Parliamentary Budget Office.
New-condo sales fall to 20-year low in GTA: Urbanation
VIDEO: Shaun Hildebrand, president of Urbanation, talks with Financial Post’s Larysa Harapyn about the pullback the condo, rental and land development research company is tracking in the Greater Toronto Area.
Reverse mortgages are on the rise
In December, reverse mortgages surged by 35 per cent year-over-year, according to the Office of the Superintendent of Financial Institutions. HomeEquity Bank reported $1 billion in new reverse mortgages issued for 2022, a 30 per cent year-over-year increase.
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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