$30M redevelopment for Edmonton’s Manulife Place

RENX  Commercial  •  Office, Retail  •  Edmonton

Less than a week after luxury retailer Holt Renfrew closed its store at Manulife Place in downtown Edmonton, the owner of the 36-storey tower announced plans for a $30-million redevelopment that includes a 45,000-square-foot rooftop terrace.

Sidewalk Labs aims to add T.O. Google HQ

Residential, Commercial  •  Toronto Star

Sidewalk Labs LLC, the urban-innovation unit of Alphabet Inc., is looking for ways to incorporate Google’s Canadian headquarters into its plans for a waterfront development in Toronto.

New hotel brand coming to CF Pacific Centre

Commercial  •  Canada Newswire

Cadillac Fairview (CF) intends to introduce a luxury lifestyle hotel brand to downtown Vancouver’s CF Pacific Centre. The new hotel would occupy the site currently being operated by the Four Seasons Hotel which will cease operations later this month.

Petra, MACH buy Montreal’s 1100 René-Lévesque

RENX  Commercial  •  Office  •  Greater Montreal

Groupe Petra and Groupe MACH have partnered to purchase one of the best-known office buildings in Montreal, at 1100 René-Lévesque West. The class-A, 27-storey tower holds LEED Platinum and BOMA Platinum certifications. It was previously owned by Oxford Properties Ltd.

B.C. attempts to shift growth away from Vancouver

Residential, Commercial  •  Vancouver Sun

The B.C.  government has adopted an economic plan to shift growth and investment away from Vancouver and toward less-congested parts of the province. The dispersed growth strategy is outlined in an “economic framework for improving B.C.’s standard of living.”

Membertou signs on for Sydney port development

Commercial  •  Canada Newswire

Sydney Harbour Investment Partners announced the expansion of its partnership consortium to include Membertou and Bridging Finance Inc. SHIP is working to develop Novaporte, a deep-water, multi-use port on 500 acres within the Port of Sydney.

Sponsored by Yardi Renters expect tech: Can you deliver?

Today’s renters want modern conveniences that go beyond updated appliances and new carpeting. Increasingly, renters expect property management companies to use technology that adds convenience and speeds up communication.

$35M mixed-use project coming to Windsor

Residential, Commercial  •  Windsor Star  •  Windsor Star

AIPL Canada’s $35-million residential/commercial project, which includes a 148-unit condo-style building for downtown, is moving forward on a long-vacant 2.3-acre Windsor property. The restoration of three historic properties will also provide 18,700 square feet of commercial space.

‘Vacant buildings a scourge’: Montreal hearings

Commercial  •  Montreal Gazette

Sophie Laquerre, owner of the funky Placard Boutique clothing and jewelry store on Mont-Royal Ave. for the last 10 years, was looking forward to a minor rent increase in 2019 since property evaluations had dropped in Plateau-Mont-Royal.

Reliance, tenants disagree on terms of relocation

Residential  •  Globe and Mail  •  RENX

An unusual landlord-tenant arrangement has sparked a major dispute, with some tenants saying developer Reliance Properties is reneging on an agreement to rent to them at below-market rates indefinitely in a new building on the site of their former home.

Toronto’s first W Hotel aims for June opening

Commercial  •  Urban Toronto

After decades of its bunker-like presence at one of Toronto’s most prominent intersections, the first signs of change for the long-maligned concrete Bloor Street wall of the Hudson’s Bay Centre complex are now in evidence.

IKEA closing Ontario ‘pick-up-point’ stores

Commercial  •  CBC  •  London Free Press  •  Windsor Star

Swedish big-box retailer IKEA has announced it will be closing all of its pick-up-point stores across Ontario as of Jan. 29. The stores slated for closure are located in Kitchener, London, Windsor, St. Catharines and Whitby.

Tim Hortons’ identity crisis could erode brand

Commercial  •  Globe and Mail

OPINION: Tim Hortons (QSR-T) is finishing what is likely one of the strangest years in its history. Most of the iconic chain’s decisions have left Canadians scratching their heads. Many of its choices in recent months have been simply inexplicable.

Encana shareholders approve move to U.S.

Commercial  •  Bloomberg  •  Global News

Encana Corp. (ECA-T) won investors’ approval to relocate to the U.S. and change its name to Ovintiv, a plan that has dented morale in Canada’s beleaguered energy industry. About 90 per cent of security holders voted in favour of the plan.

Atlantic City casinos saw $3.3B revenue in 2019

Commercial  •  Winnipeg Free Press

Atlantic City’s casinos won almost $3.3 billion from gamblers in 2019, helped by surging sports and internet bets as the seaside resort continued to rebound from a mid-decade meltdown that saw five casinos close.

Australia’s QSuper invests $901M in U.S. real estate

Residential, Commercial  •  IPE Real Assets

QSuper has invested $901 million Cdn to buy an office complex and apartment building in the U.S. The $86-billion Australian superannuation fund has bought a fully eased 753,000-square-foot Bellevue, Wash., office property and a Falls Creek apartment property in Virginia.

National vacancy rate declines for third straight year

Residential  •  Canada Newswire  •  Winnipeg Free Press

The national vacancy rate for rental apartment units declined in 2019 for a third consecutive year to 2.2 per cent, its lowest level for all-bedroom types since 2002, according to Canada Mortgage and Housing Corporation’s (CMHC) Rental Market Survey (RMS) released today.

High-end tax will force out T.O. talent: Sotheby’s

Residential  •  Toronto Star  •  Globe Newswire  •  Western Investor

The luxury and vacant home taxes recently proposed by Toronto city councillors would erode the city’s ability to attract talent from other places, says Sotheby’s International Realty Canada CEO Don Kottick.

Tesla clinches T.O. homeowner parking spot victory

Residential  •  Toronto Star

Plans to buy a Tesla have helped a Parkdale man get a front-yard parking spot over the protests of City of Toronto officials and councillor Gord Perks, who is worried others could follow suit with gas guzzlers.

Nuclear plant false alarm reinforces risks

Residential  •  Financial Post  •  CBC  •  Toronto Star

On Sunday, 15 million Ontarians received an false emergency alert warning about an incident at the Pickering Nuclear Generating Station just east of Toronto. It reminded everyone buying a home within that 10-kilometre band comes with an added element of risk.