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Oktodev to build 14-storey, 180-room hotel in Montreal

4 days ago

Oktodev to build 14-storey, 180-room hotel in Montreal

Oktodev intends to spend roughly $90 million to build a 14-storey, 180-room “upscale luxury” hotel in downtown Montreal, in the final phase of three-phase Phillips Square complex that includes condos and rental units.

How commercial property risk is changing for most owners

GUEST SUBMISSION: A building may have the same address and use as it did five years ago, but the cost to repair it, the condition of its systems, and the risks around it may look very different today.

Central Walk details plans for two former Bay spaces

Central Walk is advancing plans to redevelop approximately 310,000 square feet of former Hudson’s Bay space at Woodgrove Centre in Nanaimo and Mayfair Shopping Centre in Victoria, bringing H Mart, TM Wander, family entertainment and more into the two projects.

Uncertainty clouds $10B plan to transform Montreal airport

Clouds are gathering over the $10-billion Montreal-Trudeau airport transformation project. With the private sector being asked to take over the airport's management, it is difficult for the current administration to accelerate several aspects of its plan.

Stellantis Brampton exit plan could set a precedent

Industry watchers are backing Unifor’s opposition to Stellantis NV’s plan to sell its idled Brampton plant to armoured-vehicle maker Roshel Inc., warning the move could set a precedent for other automakers to walk back commitments to Canada.

$7B battery plant opening pushed back two years

The Volkswagen subsidiary building an electric vehicle battery "gigafactory" in St. Thomas, Ont., says the facility is now expected to begin operations in 2029, two years later than originally planned.

Slate Grocery plunges on surprise distribution suspension

Slate Grocery REIT (SGR-UN-T) units sank 25 per cent on Thursday after the company suspended its monthly distribution. At least one analyst suggested that the move was tied to the rising yield curve.

Mattamy's first modular community approved

The development, three six-storey condominium apartment buildings, was approved at the City of Mississauga’s planning and development committee meeting this week. Located in northwest Mississauga and dubbed “The Nine,” it will be Mattamy Homes’ first modular-constructed community.

Harry Rosen opens new Yorkville flagship in Toronto

Harry Rosen has opened its new 38,000-square-foot flagship at 153 Cumberland St. in Toronto’s Yorkville neighbourhood, marking what the company says is the largest single store investment in its more than 70-year history.

KaleMart24 convenience opening 13 stores this year

KaleMart24, a Montreal-based convenience store chain, is preparing for a rapid expansion across Quebec and Ontario, with nine locations now operating and plans to have at least 22 stores open by the first quarter of 2027.

Feds to spend more than $18M on return-to-office

Thirteen federal organizations said they plan to spend a combined $18,720,150 to reconfigure or acquire office space to accommodate the increased frequency of in-person work as thousands of public servants returned to the office this summer.

Real estate podcasts

Lépine, Lépine Apartments: Why bigger units, longer leases win, CRE Podcast
MacQuarrie, Canderel: How CRE is evolving and the future of office, TEN
Why are data centres so controversial? Canadian RE Investor

Rents are down more than 2% nationally

While the national rent average has gone down year-over-year, the lower payments are not enough to alleviate the burden of rising costs for Canadians, according to a report by Canadian rental risk intelligence platform SingleKey.

Toronto, Vancouver named weakest global housing markets

Toronto and Vancouver were named the two weakest housing markets internationally in 2026, in Swiss bank UBS Group AG’s global real estate bubble index. UBS also rated the cities as being at “moderate” risk of a bubble in the sector.

JLL rolls out new nontraded REIT focused on debt

JLL launched a nontraded REIT focused on commercial real estate debt that complements its existing equity REIT. The global brokerage giant this month filed to register common shares of JLL Property Finance Trust with the U.S. Securities and Exchange Commission. 

Barry Diller withdraws $18B offer to buy MGM resorts

Billionaire Barry Diller's plans to take MGM Resorts International private are kaput after three months of negotiations. People Inc., formerly IAC, announced Wednesday that it was rescinding its proposal to purchase the gaming and entertainment company for US$18B.

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