Consolidation is coming in the property technology industry as adoption hits a critical mass threshold, according to the Altus Group CRE Innovation Report 2020. The research tracks technology trends and the digital transformation impacting the global commercial real estate industry.
A major overhaul is on the way for a West Edmonton shopping centre after city council approved redevelopment plans for the area on Tuesday. City council voted in favour of rezoning RioCan’s Jasper Gates Shopping Centre for high-density mixed-use developments.
Residents recently gathered in the heart of False Creek South, to learn how to bring their unique 45-year-old community into present-day Vancouver. That new version envisions an additional one million square feet of housing and commercial space.
Metro Partners Inc. has proposed a technology hub with two towers on city hall property in Hamilton. Local entrepreneur Paven Bratch plans a 20-storey tower, a 24-storey tower, a three-storey podium around the buildings, and a 12-storey municipal building.
Hamilton city council has received two large proposals from Vrancor Group and the Hamilton Urban Precinct Arts and Entertainment Group, respectively, to build a revamped downtown entertainment precinct.
The Ontario construction and maintenance sector continues to operate at close to full capacity driven by high volumes of investment in public- and private-sector infrastructure and residential activity. The industry will need almost 100,000 additional workers to keep pace.
Partner, Robins Appleby LLP
Kelowna’s industrial sector is the latest to feel the real estate squeeze. A MCL Real Estate Group report concludes the industrial vacancy rate was below one per cent at the end of 2019.
In its latest Commercial Mortgage Commentary, CMLS Financial discusses Amazon’s plans to occupy the former Canada Post building in Downtown Vancouver, the latest rate decisions by the Bank of Canada and CMHC’s changes in fee structure for NHA MBS guarantees.
Today, TD Asset Management Inc. introduced its latest alternative investment solution, the TD Greystone Global Real Estate Fund L.P. The fund joins TDAM’s comprehensive alternative suite, which includes Canadian real estate, Canadian commercial mortgages and global infrastructure.
Calgary businesses will get another “one-time” rebate on property tax increases for the fourth consecutive year. Council voted in favour of a $30-million rebate for business property owners that would limit tax hikes to no more than 10 per cent.
Toronto-based Four Seasons Hotels and Resorts has announced short-term and long-term plans for new hotel and resort builds around the world after completion of eight projects in 2019 including the Four Seasons Hotel Montreal.
Macy’s Inc. plans to close 125 of its least productive department stores — almost a quarter of the total — over the next three years as part of a large restructuring. The stores account for about $1.4 billion in annual sales.
Nearly 100 additional Kmart and Sears stores could close in December or sooner. The news comes just weeks after retailers announced 26 Sears and Kmart locations would close in October. Liquidation sales are expected to start in mid-September.
Between Q1 2010 and Q4 2019, the U.S. industrial market experienced occupancy gains of more than three billion square feet, according to Transwestern’s latest national industrial report. In the most recent quarter, 58.6 million square feet of absorption contributed to that total.
Airbnb has announced it will begin testing new regulations across Canada this month that will ban local guests under the age of 25 from booking entire homes. Local guests under 25 years old won’t be able to rent an “un-hosted home.”
A proposed tax on vacant homes in Toronto will likely be delayed for at least another year after the concept was found to be in need of more investigation during the city’s 2020 budget discussions.
Ottawa’s home prices – which rose about nine per cent in 2019 – continued their steady climb in 2020. The average sale price of a condo in January was $338,077, up 19.1 per cent year-over-year, while the average residential property jumped 19.3 per cent YOY to $516,229.
OPINION: Once upon a time, innovation happened at home. New houses and apartments rarely give us that feeling of exploration, but architect Michael Maltzan’s housing designs consistently stretch the limits of what’s possible, technically and conceptually.