Calgary, Edmonton office sublease space dips: CBRE

RENX  Commercial  •  Office  •  Calgary, Edmonton

Is there a glimmer of hope appearing for the struggling downtown office markets in Calgary and Edmonton? CBRE‘s Canada Q1 2019 Quarterly Statistics report suggests so, with positive news about trends in sublease space in Alberta’s largest cities.

Three Vancouver properties hit the market

Commercial  •  Daily Hive  •  Global News  •  Vancouver Sun

One of Vancouver’s most recognizable — but under-utilized — retail hubs in the downtown core has just hit the real estate market. The International Village mall in Chinatown is for sale, along with Paris Square, and a mall in Coquitlam.

Minto Apartment REIT buys in Montreal, Toronto

RENX  Residential  •  Apartments  •  Greater Montreal, Toronto / GTA

Minto Apartment REIT (MI-UN-T) is breaking into the Montreal market and increasing its Toronto portfolio with the purchase of 50 per cent interests in two “high-quality” multi-residential rental properties for $209 million. The REIT announced the two separate agreements on Thursday afternoon.

Toronto’s skyline: Dramatic changes coming

Commercial  •  Huffington Post

The high-rise construction boom in Canada’s largest city is set to continue, and promises to reshape Toronto’s appearance in the coming years. Point2 Homes estimates there are currently 81 skyscrapers either under construction or in the planning phase in the GTA.

Atlantic Schooners seek half a stadium

Commercial  •  Calgary Herald  •  Construction Canada

When a professional sports team makes a pitch for public funding for a new stadium, it is a given some of the various bells and whistles that make the project sound so exciting will eventually not ring nor toot.

The Saskatchewan Edge › Mixed signals in Saskatchewan industrial sector

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

OMERS buys $3.25B SNC-Lavalin stake in hwy. operator

Commercial  •  Reuters  •  Financial Post  •  Canada Newswire

SNC-Lavalin (SNC-T) said on Friday it would sell a 10 per cent stake in a company that operates a toll highway in the Greater Toronto Area to the Ontario Municipal Employees Retirement System (OMERS) for up to $3.25 billion.

TTC subway project $100 million over budget

Commercial  •  Toronto Star  •  Toronto Star

A crucial signal modernization project designed to increase capacity on the TTC’s busiest subway line has been delayed by three years and gone nearly $100 million over budget, according to a new report from the transit agency.

IBI Group’s Parq Vancouver design honoured

Commercial  •  Globe Newswire

IBI Group’s (IBG-T) design of Paragon Developments’ Parq Vancouver, in collaboration with ARCOP and ACDF Architecture, won a Judges Choice Award at the NAIOP Vancouver and Business in Vancouver’s Commerical Real Estate Awards of Excellence.

Investors cashing in on B.C. trailer park buys

Residential  •  Business In Vancouver

Perry Peace, a multi-family apartment landlord in Regina, placed a simple ad in Western Investor last month that read: “Private investor wanting to purchase mobile home park in B.C. or Alberta.”

Richmond housing gold mine for big Airbnb players

Residential  •  Business In Vancouver

The city of Richmond has strict rules about short-term rentals in the city and a limited number of licensed ones, but that doesn’t stop it from being the epicentre of a “thriving” Airbnb market.

Gibsons development company faces foreclosure

Residential  •  Coast Reporter

The site of a development proposal that raised eyebrows in Gibsons for a design that was inspired as much by Venice as Vancouver is back on the market after foreclosure proceedings against the company behind the project.

Sears getting ready to open smaller U.S. stores

Commercial  •  Globe and Mail  •  PR Newswire

After its journey through bankruptcy, Sears is getting ready to open its first batch of smaller stores focusing on appliances, mattresses and home services. The first three stores called Sears Home & Life will open on Memorial Day weekend.

Palm Holdings subsidiary acquires Edinburgh aparthotel

Residential, Commercial  •  Palm Holdings media release

The Edinburgh Collection announced it has acquired the Princes Street Suites, an aparthotel that won the 2019 Scottish Hotel Awards’ Family Hotel of the Year category in Edinburgh and the Lothians for the second year in a row.

Forest Hill Kipling acquires Balance Residential Mgmt.

Residential  •  Canada Newswire

Premium Residential Management firm Forest Hill Kipling announced it has  signed an agreement to acquire Balance Residential Management from award-winning developer Great Gulf. Forest Hill Kipling will acquire Balance’s residential property management portfolio.

Firm Capital JVs on U.S. multi-family portfolio

Residential  •  Globe Newswire  •  RENX

Firm Capital American Realty Partners Corp. (FCA-X) announced it has entered into a joint venture with CS Acquisition Group to acquire a 109-unit multi-family residential portfolio comprised of two buildings located in West Hartford, Conn., for approximately $12.2 million.

Sluggish start to 2019 helps first-time buyers

Residential  •  Newinhomes.com  •  Bloomberg  •  Ottawa Business Journal

According to the Royal LePage House Price Survey, Canada’s residential market showed slowing year-over-year price growth in Q1 2019. Early in 2018, Canada experienced the most significant housing correction since the 2008 financial crisis.

CMHC defends First Time Home Buyer Incentive

Residential  •  Business In Vancouver  •  Global News  •  La Presse

The new First Time Home Buyer Incentive (FTHBI) announced in the recent Federal Budget has come under fire for its income and purchase price caps, prompting Canada Mortgage and Housing Corporation (CMHC) to release a statement defending the program.

Impact of B.C. dual-agency ban downplayed

Residential  •  Business In Vancouver

Ten months after B.C. outlawed real estate agents acting for both a buyer and a seller of the same property, the controversial “dual agency” ban has barely raised a ripple.

BILD has answers to your home building questions

Residential  •  Newinhomes.com  •  Globe Newswire

Have you ever had a question about the new home building industry or land development in the Greater Toronto Area? Building Answers is a public awareness campaign by the Building Industry and Land Development Association.