Cameron Stephens invests equity in large T.O. projects

RENX  Commercial  •  Industrial, Apartments, Condominiums, Investment  •  National, Toronto / GTA

An equity capital subsidiary launched by Toronto-based Cameron Stephens Mortgage Capital is investing in more and larger developments in and around the Greater Toronto Area, and its managers plan to continue that growth.

Unprecedented inflation hits B.C. construction projects

Commercial  •  Globe and Mail

Two years ago, Orion Construction started work on a 430,000-square-foot warehouse in Surrey, B.C. By 2021, construction costs had risen so much its bid for a second, similar-sized building in the same area was 20 per cent higher.

AbCellera breaks ground on Vancouver lab

Commercial  •  BC Business

AbCellera Biologics is breaking ground on the second phase of its new headquarters, located just behind its current offices in Mount Pleasant. The 210,000-square-foot building, developed in partnership with Beedie, will give the company almost 400,000 square feet of new headquarters.

Walmart, Harden build Greater Mtl. fulfillment centre

RENX  Commercial  •  Industrial, Retail  •  Greater Montreal

Harden and Walmart Canada will construct a 457,000-square-foot fulfillment centre at Le Campus Henry Ford in the Greater Montreal city of Vaudreuil-Dorion, as part of the retailer’s plan to spend $1 billion on infrastructure during 2022.

Lack of drivers may stall Amazon’s Victoria rollout

Commercial  •  Western Investor

Amazon’s $65-million ­distribution centre is known as a “last-mile” sorting and ­shipping facility, where everything ordered from Vancouver Island lands and is delivered by ­courier companies. But hiring drivers in a tight labour market is a challenge.

Sponsored by Colliers Discover the next chapter of Vancouver’s office market

Vancouver benefits from a high-calibre talent pool with exponential growth in technology, entertainment and professional services who are writing the next chapter of the office market in the region.

Anthem plans to convert strip mall to rentals

Residential, Commercial  •  urbanYVR  •  RENX

Anthem Properties Group is planning to redevelop a strip mall it owns on Vancouver’s East Hastings Street into a four-storey mixed-use. The dys architecture-designed building, would include 111 residential units and approximately 12,000 square feet of ground-floor retail space.

New mall coming to Huntsville, Ont.

Commercial  •  Retail Insider

A new mall is under construction outside of Huntsville‘s downtown core, in Muskoka, Ont., which will include a grocery store, restaurants and retail. Huntsville Place Mall will also be undergoing major renovations, including the arrival of a Giant Tiger store.

Renters move into City of Lougheed development

Residential  •  Burnaby Now

The first residents of the City of Lougheed development in Burnaby have moved into their new homes in the first phase of the 37-acre development. The four towers of “Neighbourhood One,” developed by Shape Properties, span from 31 to 57 storeys.

Two-tower mixed-use proposed for The Junction

Residential, Commercial  •  Urban Toronto

578602 Ontario Inc. recently announced a proposal designed by TACT Architecture for a two-tower mixed-use residential development at 100 Union St. in the Stockyards area of The Junction. The 37- and 23-storey towers would include 603 residential units.

Goldberg proposes 22-storey Yonge St. mixed-use

Residential, Commercial  •  Urban Toronto

Goldberg Group has proposed a 22-storey residential mixed-use building on behalf of Trinity Point Development at 1212-1220 Yonge St. in Toronto’s Summerhill. The Brisbin Brook Beynon Architects-designed building would consist of 185 residential units comprising 65 one-bedrooms, 99 two-bedrooms and 21 three-bedrooms.

Calgary Convention Centre future hopeful: President

Commercial  •  CBC

Revenues for the Calgary Convention Centre remained well below pre-pandemic levels last year, and much of that amount was due to government grants. The centre is reporting revenues of $19 million for 2021. That compares with $26 million in 2019.

QuadReal, Quarterra open 3-building mixed-use

Residential  •  PR Newswire  •  RENX

Lennar Corp., subsidiary Quarterra announced the opening of Spectra, a luxury mixed-use community in Redmond, Wash. Spectra, being developed in partnership with Vancouver’s QuadReal Property Group, features 450 apartments and 37,259 square feet of retail across three buildings.

Related pursues giant casino at Hudson Yards

Commercial  •  Bloomberg  •  Bisnow  •  RENX

Manhattan real estate developer Related Cos. is seeking to build a casino for the next phase of its $25 billion Hudson Yards development. The Western Yard is the second phase of Related and Oxford Properties Group’s Hudson Yards project.

48% of CFOs project revenue decline in CRE

Commercial  •  Connected Real Estate Magazine

In a recent Deloitte Center for Financial Services’ survey, 48 per cent of commercial real estate CFO respondents said they expect revenue to decline in 2023 due to the economic slowdown and climate regulatory action, leading executives to cut costs.

Zelensky, BlackRock CEO discuss reconstruction fund

Residential, Commercial  •  Globe and Mail (Sub. required)

President Volodymyr Zelensky of Ukraine met with Laurence D. Fink, the head of BlackRock, the world’s largest manager of assets, to discuss how to attract investment in the country’s war-ravaged economy.

Muslim homebuyers flock to halal financing options

Residential  •  Globe and Mail (Sub. required)  •  Globe and Mail

Practising Muslims are prohibited by their faith from paying or receiving interest, which prevents them from taking conventional mortgages. Edmonton startup Canadian Halal Financial Corp., is trying to fill the gap and meet some of the demand.

Banff’s housing struggle falls hardest on disadvantaged

Residential  •  Globe and Mail (Sub. required)

Finding a place to live in Banff, Alta., is becoming increasingly difficult for workers as the constraints imposed by Parks Canada to ensure environmental conservation in a national park townsite limit the availability of developable land and challenge redevelopment.

The largest farm and ranch auction in B.C. history

Residential, Commercial  •  EIN Presswire

BC Farm and Ranch Realty announced the auction of over 1,900 acres of prime farm and ranch land in Southern and Central B.C. The auction includes seven sites ranging from 17 to 1,700 acres. Included are five houses and a dairy farm facility.

Sunshine Coast community limits short-term rentals

Residential  •  CBC

The number of Airbnbs and other vacation rental suites will be significantly reduced next year in Sechelt, B.C. District council voted to limit licences for short-term rentals to 15 operators. Right now, Mayor Darnelda Siegers says there are approximately 50.