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Sandhu develops close to GTA home, but diversifies projects
Sandhu develops close to GTA home, but diversifies projects
After almost two decades in the real estate business, Sandhu Developments remains committed to developing in Ontario – but what the company builds and owns has been undergoing a change.
Bluebird buys Victoria bldg., creates coast-to-coast network
Bluebird Self Storage has acquired what may be the oldest self-storage facility in North America and plans over the coming year to update the Victoria, B.C. property to modern standards.
Long-term office outlook appears positive: NAIOP
According to a recent report commissioned by the National Association of Industrial and Office Properties (NAIOP), the visions of tumbleweeds blowing through our downtown cores in the fallout of an unprecedented shift to working from home are overblown.
$9B contract awarded for Ontario Line subway
Infrastructure Ontario and Metrolinx have awarded a $9-billion contract to a consortium that will deliver new trains, systems, maintenance, and operations for the future Ontario Line subway.
 | Grosvenor Grosvenor appoints new development team leadershipGrosvenor, a privately held property owner and developer with a 70-year track record in North America, announced leadership appointments to support a $5.1bn USD pipeline in U.S. and Canada. Sponsored by: Grosvenor |
Small towns and suburbs are booming: Study
The downtowns of most major Canadian cities continue to face a substantial dip in foot traffic compared with prepandemic norms – but the opposite is true of smaller towns and suburbs, according to the Canadian Chamber of Commerce’s Business Data Lab.
Billionaire Stephen Smith has some uncanny talents
New Home Capital Group (HCG-T) owner Stephen Smith is a common name in Canadian business. There is Stephen Smith the marketer; a Stephen Smith in structured finance; Stephen Smith the chartered financial analyst; and Stephen Smith the applications team lead.
Burnaby tower with 'poor door' approaches approval
A 53-storey Metrotown tower that includes a so-called “poor door” is nearing approval by Burnaby city council. The development, by Bosa Properties Inc. at 6031 Wilson Ave., would includes a total of 486 residential units.
Groupe Sélection to appeal court's restructuring decision
Following the decision of Judge Michel A. Pinsonnault to appoint PwC as monitor of the financial and operational restructuring of the company, Groupe Sélection will seek permission to appeal the judgment and request a stay of the proceeding's execution.
875 Heron Road plots green retrofit for 2027
The renovation of the Taxation Data Centre Complex on 875 Heron Rd. in Ottawa was held up at the Green Building Festival as an example of a successful deep energy retrofit in progress for its positive environmental and community impacts.
Sporting Life expanding operations nationally
Retailer Sporting Life is poised for further Canadian expansion as it rolls out its sports lifestyle brand to more locations in Ontario, Alberta and Quebec – with the promise of more new stores to come in the future.
AY plans $25M In budget cuts, including layoffs
Avison Young is planning $25 million Cdn in budget cuts across its international operations, according to an announcement to employees. The Toronto-based, privately owned firm employs about 5,000 workers, according to its website.
Cisco to lay off over 4,000, shrink real estate footprint
Cisco Systems plans to shrink its real estate footprint and lay off workers, the latest tech company to go into cost-saving mode. Cisco has more than 3.5 million square feet of leased and owned space in Silicon Valley.
Most companies will keep investing In office: EY survey
Although hybrid work schedules are now the norm for 70% of workers, only one-third of companies plan to reduce their investment in commercial space, according to a new survey by consultancy EY.
Former Manhattan Ritz-Carlton placed In bankruptcy
Los Angeles hospitality firm Urban Commons has filed for bankruptcy on the hotel portion of the Wagner at the Battery, just weeks after a lender filed a petition to foreclose on the Lower Manhattan asset.
B.C. residential land still seeing eye-popping prices
According to Altus Group, residential land was the primary investment in Metro Vancouver during the first half of 2022 with $2.94 billion in dollar volume, representing 52 per cent of all land transactions. Things didn't slow down in Q3.
Mortgage interest costs stoking fears of housing crash
Mortgage interest costs in October increased at a rate not seen since the 1990s housing crash, indicating troubling headwinds for Canada’s real estate sector. What makes the current market particularly concerning is higher household debt and home prices.
Hamilton mayor says end of dev. charges could be problem
Hamilton Mayor Andrea Horwath says Ontario’s hurried bid to meet the target of building 1.5 million homes in 10 years could be “problematic” for taxpayers who will potentially have to compensate for development discounts in new legislation.
Tribe acquires strata management assets from WPM
Tribe Property Technologies Inc. (TRBE-X) plans to acquire a portfolio of strata property management assets from Warrington PCI Management for up to $375,000, continuing to grow Tribe's Greater Vancouver property management services.
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
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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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