The count is up to five for Winnipeg’s SHED. The downtown Sports, Hospitality and Entertainment District centred around Bell MTS Place – home of the NHL’s Winnipeg Jets – will soon have another new high-rise as Wawanesa builds a 19-story office tower.
The City of Winnipeg — and three city councillors — have been found in contempt for violating a court order over developer Andrew Marquess’ Parker Lands project. Marquess wants to build 1,900 residential units.
Development pressure has driven Vancouver retail rents sky high and convinced some landlords to include demolition clauses so they can boot retailers out if a developer wants in, according to a Cushman & Wakefield report.
It has been a big year for the Scotiabank Arena at Bay and Lake Shore in Downtown Toronto. The multi-million dollar renovation designed by Kramer Design Associates is bringing a refreshed look to the building that includes dark exterior finishes.
Mitchell Cohen writes policy papers and show tunes about affordable housing. He wears a pork pie hat and is easy to tear up when talking about local “empowerment.” He’s also president of The Daniels Corporation, one of Canada’s biggest developers.
Nukutepipi, Cirque du Soleil founder Guy Laliberté’s private island resort in French Polynesia, is welcoming guests. According to its Airbnb listing, you and 51 of your friends could stay there for your next vacation for $1.1 million per week.
Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate
It’s back to the future for Canadian grocer Sobeys (EMP-A-T), which will eliminate plastic bags from its stores by the end of January 2020. The company says it will take 225 million bags per year out of circulation from Sobeys’ 255 Canadian stores.
Shepard Fairey’s instantly iconic HOPE poster emerged this week on the side of a downtown Vancouver office building – spanning 10,000 square feet and 20 storeys. The mural is the tallest of Fairey’s career.
Household debt ratios in Canada are at a record high and REITs like InterRent (IIP-UN-T) are particularly exposed. Investors should diversify overseas, where property valuations are more reasonable. Inovalis REIT (INO-UN-T) is the perfect option for this type of exposure.
R&R REIT (RRR-UN-X) has an agreement to acquire a portfolio of eight economy hotels located in the U.S. and comprising a total of 906 rooms for an aggregate purchase price of approximately US$52.0 million.
REIT second-quarter financial results
Activist investor Jonathan Litt vowed to replace of Hudson’s Bay Co. (HBC-T) chairman Richard Baker if a bid to take the company private fails. The investor blasted the actions by Baker and his buyout group.
CEO Bruce Flatt continues to sound notes of caution about the global economy, but Brookfield Asset Management (BAM-A-T) sees itself ramping up the amount of cash it will generate in the future, with stock buybacks and perhaps an increased dividend.
Global real estate consultant JLL is reporting this week that after a bumpy 2018, investment in global commercial real estate cooled in the first half of 2019 with year-over-year volumes dropping by nine per cent to $341 billion.
According to Transwestern‘s recently released national office report, the national vacancy rate held steady at 9.7 per cent in the second quarter thanks to healthy pre-leasing levels of newly delivered office assets.
In Denmark’s US$495 billion mortgage-backed covered bond market, another milestone was reached on Wednesday as Nordea Bank Abp said it will start offering 20-year fixed-rate loans that charge no interest.
Canadian housing starts fell last month, led mostly by a drop in construction of semi-detached, row houses and apartments. Builders started work on an annualized 222,013 units, a drop of 9.6 per cent from June, Canada Mortgage and Housing Corp. reported Friday.
Home buyers and mortgage shoppers have new reason to celebrate. With U.S. President Donald Trump taking another wrecking ball to international trade relations, government bond yields are continuing their decline. And bond yields are the No. 1 driver of fixed-mortgage rates.
Over the next decade, Toronto seniors may not be freeing up the expected number of dwellings — single-family homes, condos and townhouses — for younger people to move into and this will limit supply, says the Canada Mortgage and Housing Corporation.