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Calgary’s 600,000-sq.-ft. Nexen Building sits vacant
Calgary’s 600,000-sq.-ft. Nexen Building sits vacant
It’s situation that has likely never been experienced in Calgary’s downtown office market. When energy company Nexen moved its operations to the Bow Tower last fall, the energy company left its former headquarters completely empty – the 801 Seventh Building.
COGIR joins trend to develop mixed-use at retail sites
COGIR Real Estate will redevelop “outdated” shopping centres in Quebec into mixed-use developments including multi-residential towers. The first will be Place Repentigny, Jean-Philippe Hébert announced at the Quebec Apartment Investment Conference in Montreal during a discussion on mixed-use developments.
Hamilton’s Television City proposal going ahead
• CBC • Hamilton Spectator • RENX
Toronto developer Brad Lamb’s controversial twin-tower Television City proposal is going forward. The Local Planning Appeal Tribunal (LPAT) ruled Friday Lamb Development Corp.‘s proposal, which will see two 32-storey towers at the CHCH-TV property in Durand, can go ahead.
Master plan badly needed for Montreal’s West End
OPINION: Electric tramways along an extended Cavendish Boulevard is among the ideas to knit together the neighbourhoods and municipalities that make up West-End Montreal, a hub slated to receive widespread development in the coming years.
Ex-Cresford president alleges ‘cash crisis’
• Globe and Mail (Sub. required)
A 33-page wrongful dismissal complaint filed on Jan. 21 by former president Maria Athanasoulis alleges Toronto-based Cresford Developments has a “cash crisis,” and is failing to pay contractors and incurring costly delays on its projects.
Tech growth inevitable, OSWCA members told
The global construction industry is still smarting from the oft-quoted 2017 McKinsey Global Institute report indicating the sector’s labour-productivity growth averaged only one per cent a year over the past two decades, ranking ahead of only agriculture.
Coronavirus could have impact on construction
• Daily Commercial News • CP Executive
Canada’s construction sector should brace itself for significant supply-chain interruptions caused by the coronavirus outbreak, experts assembled by the Canadian Construction Association (CCA) recently warned.
Coronavirus shuts most Lululemon stores in China
Most of Lululemon Athletica Inc.’s (LULU-Q) nearly 40 stores in China have been closed since early February amid the novel coronavirus outbreak, the company said.
Decline in Alberta investment for building construction
Statistics Canada reported Monday investment in Alberta residential construction and non-residential construction was down in 2019. Investment in residential construction by 15.3 per cent year-over-year to $11.7 billion while investment in non-residential construction declined by 4.3 per cent to $8.9 billion.
Orillia ready to move on waterfront revitalization
The City of Orillia, 90 miles north of Toronto on the shore of Lake Couchiching, is on the final leg of a long journey toward the revitalization of its downtown and waterfront.
Longridge Partners acquires golf association
Longridge Partners Inc. has entered into an agreement to purchase the Devil’s Pulpit Golf Association of Caledon, Ont., on behalf of a member-based group. The DPGA operates two of Canada’s top-ranked golf courses, the Devil’s Pulpit and the Devil’s Paintbrush.
Toronto’s 10 tallest construction sites
A number of Toronto’s future tallest buildings are currently under construction, many of them — like The One — are currently only as far as their lowest levels. Here, UrbanToronto rounds up city’s current tallest construction sites:
New Plaza of Nations renderings unveiled
There are new detailed artistic renderings of the mixed-use redevelopment of the Plaza of Nations in downtown Vancouver’s emerging Northeast False Creek district. The 10.3-acre redevelopment is now in its development permit application stage with the City of Vancouver.
Slate Retail completes $858M debt refinancing
Slate Retail REIT (SRT-U-T), an owner and operator of U.S. grocery-anchored real estate, announced it has completed the refinancing of a $525 million revolving credit facility and term loan. The REIT has also reduced pricing for its $250-million term loan.
Nexus named top TSX Venture Exchange performer
Nexus REIT (NXR-UN-X) announced it has been named as one of the top performers on the TSX Venture Exchange. The 2020 TSX Venture 50 celebrates the strongest performances on the TSX Venture Exchange over the last year.
Ottawa top destination for Millennials: Report
A Ryerson University study on Millennial migration patterns points to Ottawa as the country’s top destination for the country’s 23- to 38-year-old set (as of mid 2019), as exorbitant housing prices in large areas such as Toronto and Montreal deter Gen Y-ers.
Stress test changes ‘not significant’: CIBC’s Tal
Easing Canada’s mortgage stress tests will not have a material impact on Canada’s hottest housing markets, according to CIBC’s deputy chief economist Benjamin Tal. The Royal Bank of Canada also expects only a small effect on the housing market.
Vancouver duplexes ‘a success’ after first year
After the first full year of duplexes being legalized across 99 per cent of Vancouver’s low-density residential neighbourhoods, city staff have reported a “modest level of uptake” in the building type but strong public support.
Restored Vancouver mansion hits the market for $27M
• Globe and Mail (Sub. required)
After spending millions on a renovation, Mingfei Zhao is selling his 12-bedroom, 12-bathroom, 11 fireplace house at 3689 Selkirk St. in Vancouver’s First Shaughnessy neighbourhood. He’s listed the property at $27 million.
Torontonians not confident about owning homes
According to a Zillow / Ipsos survey, the confidence of Torontonians in their ability to own the home they want is declining. For buyers, 77 per cent are concerned they can’t afford the home they want, up four points from 2018.
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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