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National set to launch NorthShore condos in Burlington
National set to launch NorthShore condos in Burlington
After six years of preparation, National Homes will launch sales this spring for NorthShore, a mid-rise condominium and stacked townhome development with almost 400 units at 490 Plains Rd. E. in Burlington, Ont.
Parksville, B.C., rejects District's 800-unit proposal
Vancouver-based District Developments’ proposal to build up to 800 residential units was defeated by Parksville, B.C., council on Monday, The 140.5-acre site was designated for a mix of residential and commercial under the city’s official community plan in 2013.
U.S. hedge fund pushes for Parkland to be broken up
U.S. activist hedge fund Engine Capital LP is pushing for an overhaul of Calgary-based Parkland Corp. (PKI-T) that would see the company’s refinery and fuel distribution businesses sold or spun off to create a “pure play” fuel and convenience-store retailer.
RBC employees to return to office at least 3 days a week
Royal Bank of Canada (RY-T) has instructed its employees to return to their offices three to four days a week as companies across the country struggle to convince workers to leave their work-from-home setups behind.
Dream, PaulsCorp invest in CRE financing venture Avrio
Dream Unlimited Corp., (DRM-T), along with PaulsCorp LLC and Vicky Schiff, have launched Avrio Real Estate Credit, meant to offer short-term, first mortgage debt and other structured finance products.
Solmar's Bristol Place to be Brampton's tallest buildings
Solmar Development Corp.'s Bristol Place will feature a pair of 48-storey Graziani + Corazza Architects-designed towers, deliver 1,124 dwelling units and claim the title as the tallest buildings in the City of Brampton.
Fora proposes three-tower residential project
Fora Developments has proposed two buildings with three towers and 873 residential units at 2400 Dundas St. W. The Giannone Petricone Associates-designed north building would include 18- and 25-storey towers while the south would have a 36-storey tower.
Opportunities present to repurpose Nordstrom spaces
Martin Moriarty, senior vice-president, investments and leasing with Marcus & Millichap in Vancouver, doubts one large-scale user will come in and swoop up the spaces left behind by Nordstrom. Nor does he think the landlords may want that simple answer.
Incubator breaking down barriers in GTA development
After working in the arts, Salima Rawji, CEO of York University Development Corp., returned to business school and from there, in 2007, she joined a now-defunct training program created by SmartCentres magnate Mitchell Goldhar.
Citizen developers ready to build missing middle
A few years ago, before the fight to eliminate exclusionary zoning became a talking point for politicians across the political spectrum, architect and planner Naama Blonder had a pair of clients thinking of building missing-middle type rental projects in Toronto.
Northstar marks progress on shingle recycling facility
Northstar Clean Technologies Inc. has signed a 15-year lease for 4.4 acres of land and an offtake agreement with McAsphalt Industries Ltd. for all the recycled liquid asphalt production from the facility, marking progress toward its planned Calgary facility.
Blackstone stops payments on $325M Las Vegas office loan
Blackstone has stopped making debt payments on its Hughes Center office campus, a 1.5-million-square-foot complex spread over 19 buildings. Public records show the loan, backed by the huge property, was placed into special servicing earlier this month.
Remote work creates mortgage-backed default risk: Moody's
The popularity of working from home in the U.S. is cutting into office tower revenue to the point that it is putting some commercial mortgage-backed securities at risk of default, according to a report from credit rating agency Moody’s.
Top 10 U.S. hotel/motel and retail/shopping centre projects
The accompanying tables show the top 10 largest upcoming Hotel/Motel and Retail/Shopping Centre construction projects in the U.S. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.
U.S. home sales surge in February
U.S. existing home sales rebounded more than expected in February as lower mortgage rates and the first year-on-year decrease in prices in 11 years pulled buyers back into the market, further evidence the housing market was stabilizing.
Multiresidential remains favoured investment asset
ANALYSIS: Purpose-built rental housing is tapped to be a favoured investment asset for awhile yet. Industry analysts cite Canada’s demographic trends and seemingly chronic housing supply-demand imbalance as two fundamentals that should drive robust returns well into the future.
Canada needs 332,000 new rental units by 2026: RBC
A Royal Bank of Canada report predicts Canada’s rental housing shortage will quadruple to 120,000 units by 2026 without a significant boost in stock. It says Canada needs to add 332,000 rental units over the next three years.
GTA sees a surge in forced sale listings
There are a rising number of forced sales in the GTA, in which the borrower still owns their home, but the lender steps in to force the sale, usually because the borrower is not able to make their mortgage payments.
B.C. suffering acute shortage of strata managers
The growing demand for multifamily condo and townhome projects is worsening an already-dire shortage of strata managers in B.C. “We could use 300 more managers tomorrow,” said Tony Gioventu, executive director of the Condo Home Owners Association.
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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