Grosvenor has acquired the 14-acre former Oakridge Transit Centre (OTC) in Vancouver, where it will become the lead developer of a major mixed-use project designed to deliver 17 buildings and 1,630 new residential units.
Nicola Wealth Real Estate and PC Urban Properties have acquired 3.4 acres of Coquitlam industrial land for $24 million, $6.4 million above its BC Assessment value. Plans are to develop the space into 100,000 square feet of strata industrial units for owner-users and investors.
The Royal Canadian Mounted Police have charged founders Jawad Rathore of Markham, Ont., and Vince Petrozza of Richmond Hill, Ont., with fraud in connection with a syndicated mortgages scheme involving Fortress Real Developments, following a years-long investigation.
Slate Grocery REIT (SGR-UN-T) will acquire a portfolio of 14 U.S. grocery-anchored retail properties for $551 million Cdn., and form a joint venture with Slate North American Essential Real Estate Income Fund L.P. to hold the assets.
Rising construction costs could put the brakes on new development in the coming months, but developers including Cadillac Fairview are finding creative ways to keep projects moving forward.
Coca-Cola Canada Bottling (KO-N) is investing $24 million for a new bottling line at its 2471 Viking Way bottling plant in Richmond, in addition to $18 million to build a 240,000-square-foot distribution centre at 8040 Zylmans Way expected to open in spring 2024.
As the new $500-million BMO Centre begins to take shape, it is showing the true size of the project — not just from a construction aspect but also in terms of potential impact on Calgary.
Calgary’s Agriplay Ventures expects to convert up to 65,000 square feet of rentable office space in the iconic Calgary Tower — formerly used for record storage by oilpatch giant Encana — to grow commercial quantities of fruits and vegetables.
Canadian inflation accelerated to the highest rate in nearly four decades in May as calls broaden for policy makers to find new ways of curbing runaway price growth. The consumer price index rose 7.7 per cent year-over-year.
An innovative rooftop garden and a portfolio-wide hazard and risk assessment helped earn GWL Realty Advisors Inc. (GWLRA) two honours, Stakeholder Engagement and Climate Leadership Innovator, at the 2022 HOOPP LEAP Awards.
North Drive has proposed a 12-storey mixed-use building at 1086 Yonge St., a short walk north of Rosedale Subway Station. The Reflect Architecture-designed building would include 30 residential units, five retail units at grade and four commercial office units.
Interest rates are rising, inflation is at generational highs and a recession may be on the way, but U.S. CRE construction starts are up and projects in planning rose in May. Experts say that isn’t likely to change.
The U.S. median rental price hit its latest new high of $1,849 per month in May, representing a 26.6% increase since 2019 before the pandemic began, according to the Realtor.com Monthly Rental Report released today.
An increasingly hawkish Bank of Canada, the widening of mortgage spreads and news that Magenta Capital Corporation has suspended new loan applications has prompted Capital Economics to deepen its forecast of home price declines to 20 per cent.
The “trigger rate” interest-rate level, an obscure feature of variable-rate mortgages, may push up the monthly payments for an increasing number of borrowers as the Bank of Canada aggressively hikes interest rates.
A new study, conducted by insurance provider PolicyAdvisor, concludes the five most expensive cities in both Canada and the U.S. when it comes to cost of living versus income are New York City, Mississauga, Vancouver, Hamilton and Toronto.
The reality of a swift and dramatic change in the Toronto-area real estate market is sinking in for sellers and buyers. “It’s crazy how different it has become in only a matter of months,” says Century 21 Legacy’s Pritesh Parekh.
Building Industry and Land Development Association CEO David Wilkes is warning the re-elected provincial government must keep its commitment to increasing housing supply, even though sales of new construction homes continued to slump in May.