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From $15.8M to $165M: Milton development land sold
From $15.8M to $165M: Milton development land sold
A tract of future industrial development land across from the planned new CN intermodal terminal in Milton has sold for $165 million – more than 10 times what it was acquired for six years ago.
Top multifamily execs focus on affordability at CAIC
Canada’s lack of affordable housing wasn’t just a major issue during the recent federal election, it also dominated talk during the final panel at the Canadian Apartment Investment Conference on Sept. 23.
3,500 new homes, retail proposed for Cypress Village
The District of West Vancouver has entered a new phase of consultation on the refined concept for Cypress Village, which has a proposed master plan for about 3,700 residential units and a pedestrian-oriented retail village of between 100,000 and 135,000 square feet.
Menkes proposes 35-storey T.O. residential tower
Menkes proposes a 35-storey residential tower, including a five-storey podium, at Eglinton Avenue East and Mt. Pleasant Road. The 384 units would comprise 282 one-bedroom (73%), 61 two-bedroom (16%) and 41 three-bedroom (11%) units. The site is occupied by a row of eight townhouse units.
Calgary still western leader in downtown office leasing
Despite all the negative press about Calgary’s office market, Alberta’s biggest city has more downtown office space fully leased than in Vancouver’s core and more downtown offices leased than in all other major Western Canadian cities, combined, according to CBRE.
Calgary receives 13 applications for office conversions
Calgary’s incentive program to convert vacant downtown office space into other uses has seen 13 applications, the City of Calgary announced Monday. City council approved a $200-million investment in a downtown strategy in April.
Podcast: Life as an industrial real estate entrepreneur
In this week’s episode host Chad Griffiths is joined by Michael Golden, an industrial real estate owner with a portfolio spanning 500,000 square feet.
TELUS’ Calgary smart buildings reduce costs, carbon
TELUS Smart Building has partnered with Calgary-based real estate developer and award-winning investment company Arlington Street Investments to bring smart building technology to a Calgary retail and residential development.
Mafia families share farmland next to Longueuil
• LaPresse
The families of several mafiosi reached an agreement over the past year on the sharing of 4.5 square kilometres of agricultural land strategically located on the edge of a vacant lot in Montérégie, Que., the Department of National Defence wants to sell.
Val-David: Small village, huge lawsuits
• LaPresse
Val-David’s decision to block a resort project to build a school has cascading consequences for the Laurentians village: nearly century-old Lac La Sapinière has dried up, resulting in millions in lawsuits.
Firm Capital acquires 40% interest in T.O. retail property
Firm Capital Property Trust (FCD-UN-X) announced the closing of a 40% interest in a 11,256-square-foot, single-tenant retail property Toronto’s Forest Hill neighbourhood. The trust’s portion of the $23.8 million acquisition price is approximately $9.5 million. The property is 100% occupied by Rexall.
Slate unveils Calgary’s Stephen Avenue Place
Walking through the former Scotia Centre, it is hard to remember just what it looked like before new owner Slate Asset Management went ahead with its $30-million renovation project. Taurus Property Group’s vision is to create a destination retail centre.
CPP to acquire Ports America from Oaktree Capital
• Globe and Mail • Canada Newswire
CPP Investments said on Wednesday it has agreed to buy marine terminal operator Ports America from Oaktree Capital Management LP for an undisclosed sum. CPP, a minority investor in Ports America since 2014, will acquire full ownership in the company.
China Evergrande sells bank stake to repay loan
• CNBC • Globe and Mail (Sub. required)
Cash-strapped China Evergrande Group left its offshore bondholders guessing whether it would pay interest on a bond coupon due Wednesday despite agreeing to settle debt with a Chinese bank in a $1.5-billion stake divestment deal.
NAR identifies America’s top-10 office markets of 2021
The National Association of Realtors has identified the top-10 commercial office markets as of Q3 2021. In alphabetical order: Austin, Texas; Boise, Idaho; Chattanooga; Daytona Beach, Fla.; Miami; Myrtle Beach, S.C.; Omaha, Neb.; Palm Beach, Fla.; Provo, Utah; San Antonio, Texas.
Greybrook, PMG to develop Atlanta mixed-use project
Greybrook Realty Partners has secured US$61,200,000 to acquire and oversee the development of a prime parcel of land in Atlanta. With PMG, Greybrook intends to develop a mixed-use building with approximately 460 rental units in addition to office and retail space.
Owners face fines over proposed Muskoka cottages
Joseph Azouri, along with three property owners and their contractors, have been charged with contravening tree-preservation and site alteration bylaws in Muskoka, Ont., and face up to $320,000 in fines. Muskoka has seen a real estate boom accelerated by the pandemic.
Winnipeg housing sector shows signs of overheating
• CTV • Ottawa Business Journal
Winnipeg’s red-hot resale market and a lack of demand for new homes have led to evidence of overheating in the city’s real estate sector, according to Winnipeg’s latest quarterly Housing Market Assessment by the Canada Mortgage and Housing Corporation (CMHC).
OREA denounces exclusionary single-family zoning
The Ontario Real Estate Association is calling on the Government of Ontario to cut red tape and build on the successful More Homes, More Choice Act, 2019 by ending Ontario’s exclusionary single-family zoning rules in high-demand areas.
Canada’s first 3D printed home
• CBC
The Fibonacci House in Proctor, B.C., boasts spectacular views of the nearby mountains — but that’s not what makes the tiny home a one-of-a-kind vacation rental. It is Canada’s first 3D printed house — a spiral structure that features curved walls.
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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