ULI Spring Meeting in Toronto could set all-time record

RENX  Commercial  •  Land, Human Resources  •  National, International

The 2020 Urban Land Institute Spring Meeting scheduled for May 12-14 in Toronto is expected to be the institute’s largest-ever gathering. “It’s an opportunity to advance our global mission, which is to advance the responsible use of land,” said ULI’s Richard Joy.

Vancouver Four Seasons closes, new tenant on way

Commercial  •  Globe and Mail  •  Daily Hive

The Four Seasons in Vancouver’s downtown announced in 2018 it would close in the wake of a lawsuit launched by its landlord, Cadillac Fairview. Attached to the Pacific Centre mall, operating for 44 years, the question now is what will replace it.

Sydney’s Novaporte project secures Mi’kmaq partners

Commercial  •  Construct Canada

Sydney Harbour Investment Partners has announced the expansion of its partnership consortium developing the deep-water Novaporte in Sydney, N.S., a multi-use port on 500 acres. The new partners are the Mi’kmaq community of Membertou and Bridging Finance.

N.S. community divided over commercial spaceport

Commercial  •  Financial Post (Sub. required)

Nearly three years ago, an American-backed aerospace company called Maritime Launch Services swept into Canso, N.S., with plans it promised would attract clients from around the world to launch satellites into space and breathe life into the town’s shrinking economy.

NCC approves tweaked LeBreton Flats master plan

Residential, Commercial  •  Global News  •  CBC  •  Ottawa Citizen

Eleven months after the former redevelopment plan for LeBreton Flats went up in smoke, the National Capital Commission’s board of directors has approved a “preliminary version” of the new master concept plan for the long-vacant site in Ottawa’s downtown area.

A first peek at Ottawa’s new ‘super library’

Commercial  •  Ottawa Citizen  •  Canada Newswire  •  CBC

The City of Ottawa, Ottawa Public Library (OPL) and Library and Archives Canada on Thursday unveiled the long-awaited design for the $192.9-million joint facility on LeBreton Flats after spending the past year gathering ideas from the public.

The Saskatchewan Edge › Shining multires sector re-emerges in Saskatoon

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Preston Springs hotel must be demolished

Commercial  •  The Record

The chief building official for the City of Cambridge says the iconic Preston Springs hotel must be demolished based on the assessment of two independent engineering firms.

Fortress lawyer faces law society disciplinary decision

Commercial  •  Globe and Mail

The Law Society of Ontario has asked a disciplinary tribunal to ban a Toronto-area lawyer from any involvement with syndicated mortgage loans because of concerns about his conduct as an adviser to investors in the troubled Fortress Real Developments.

Waterfront Toronto defers Sidewalk Labs’ decision

Commercial  •  Toronto Star

Waterfront Toronto’s board has voted to defer the final deadline for a decision on whether the controversial Quayside smart city will go ahead. Directors have extended the deadline from March 31 to May 20 to allow more public input.

Closing chains is not ‘retail apocalypse’ just yet

Commercial  •  The Chronicle Herald

Two chains indicated Wednesday they will close their Canadian locations, another sign of changing times within the retail industry. Schurman Retail Group is closing all 76 of its Carlton Cards and Papyrus retail stores in Canada and 178 U.S. locations.

Lululemon founder Chip Wilson’s next apparel play

Commercial  •  Business In Vancouver

Retired life starts early for Chip Wilson, founder and former CEO of Lululemon Athletica Inc. It’s dark and drizzly when his driver pulls up in a luxury black sedan. Wilson waves from the back seat. It’s just past 6:30 a.m.

Data is shaping the office of the future: JLL CEO

Commercial  •  Business Insider

Christian Ulbrich, president and CEO of JLL, the second-largest CRE brokerage and service provider in the world, says “data is absolutely critical” and the insights they’ve drawn have helped their clients save money and achieve their real estate goals.

Interest-only CRE loans may eventually prove risky

Commercial  •  CP Executive

Market players largely agree lending standards have not deteriorated despite the sustained economic cycle and positive fundamentals. Bucking the history of past cycles, lenders generally have avoided the temptation to lard properties with high levels of debt during good times.

Goldman Sachs bans IPOs for firms with all-male boards

Commercial  •  New York Post  •  CP Executive

Boards packed with bros don’t get IPOs. That’s the new policy at Goldman Sachs, whose chief executive David Solomon said the Wall Street giant won’t take any company public unless it has at least one “diverse” board member.

CapitaLand proposes $8.1B merger of office, retail REITs

Commercial  •  Mingi

Just one year after Singapore’s CapitaLand began its $10.7 billion Cdn acquisition of Ascendas-Singbridge, Southeast Asia’s largest real estate group has proposed to merge a pair of commercial real estate investment trusts in a $8.1 billion cash-and-stock deal.

Montreal market expected to break records in 2020

Residential  •  Montreal Gazette  •  Globe Newswire

Residential property sales in the greater Montreal area are set to climb six per cent this year to a record 54,600 units, according to a forecast released Thursday by the Quebec Professional Association of Real Estate Brokers.

Alberta immigrants have highest home ownership rates

Residential  •  Western Investor

Alberta attracts approximately eight per cent of Canada’s international migration annually, but these newcomers have Canada’s highest home ownership rate in Canada, with 45 per cent owning their home.

This Vancouver truck is selling condos

Commercial  •  Daily Hive

Many good things are sold out of trucks: tacos, hot dogs, ice cream, and most recently, condos. Step on into the cozy ELLA Condo Truck and you can walk out owning a condo at ELLA Living’s brand new development.

B.C.’s developers slam gov’t policies at UDI meeting

Commercial  •  The Province

At Vancouver’s UDI meeting Thursday, several developers set the tone and made forecasts for the coming year, with some slamming government policies that have curbed demand for what had been runaway home sales and prices.