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When will recession hit? Tal, Rosenberg offer two views
When will recession hit? Tal, Rosenberg offer views
Benjamin Tal and David Rosenberg returned to the Real Estate Forum stage in Toronto last week for their annual state-of-the-economy addresses and for the second year in a row, offered differing interpretations of whether a recession is imminent.
Blake Hutcheson to become new OMERS CEO
• OMERS news release • Financial Post
Blake Hutcheson, former CEO of the Oxford Properties Group, will be the new CEO of OMERS effective June 1, 2020. Hutcheson is currently president and chief pension officer and will succeed Michael Latimer who is retiring after two decades at OMERS.
Massive redevelopment at Toronto’s Agincourt Mall
The North American Development Group has ambitious plans to build a massive project on the site of the current Agincourt Mall in Toronto – creating a vibrant mixed-use community while leveraging connections to existing and future transit, parks, and open spaces.
Summit Industrial buys Markham development site
Summit Industrial Income REIT (SMIU-UN-T) waived conditions to acquire a 184,561 square foot single-tenant light industrial property in Markham. The building is on an 11.7-acre site with 36 per cent site coverage, providing a 60,000 square foot development opportunity.
CAPREIT expands presence in Calgary Beltline
Canadian Apartment Properties REIT (CAR-UN-T) has completed the acquisition of The Carrington, a 79-suite apartment property located in the Beltline district of downtown Calgary, Alberta for approximately $19.5 million. Occupancy for the property currently stands at 100%.
Saskatchewan’s tallest building rising in Saskatoon
• Saskatoon StarPhoenix • RENX
Saskatoon is set to grab the bragging rights for having Saskatchewan’s tallest building. Triovest Realty Advisors‘ tower on Parcel Y at River Landing is expected to reach 18 storeys and 289 feet, eclipsing the 277-foot, 20-storey Mosaic Potash Tower in downtown Regina.
MPAC property assessments top $2.96 trillion in 2019
Wednesday, the Municipal Property Assessment Corporation (MPAC) delivered assessment rolls to municipalities across Ontario with an estimated value of $2.96 trillion. The assessment rolls support the calculation of property and education taxes for the 2020 property tax year.
Opinion: Development shows TO’s mixed-up future
• Globe and Mail (Sub. required)
OPINION: TAS’ proposed project at 888 Dupont St. in Toronto would feature a 13-storey tower with a restaurant on the roof, shops on the first floor and in the basement. In between would be 99 live-work apartments, 13 of them affordable rentals.
NY’s opulent Hudson hotel to expand in Toronto
If the Hudson Hotel project manages to obtain municipal approvals and successfully navigate hearings scheduled for this spring, the 75,000-square-foot building at 445 Adelaide St. W. will open in 2024 and overlook St. Andrew’s Park.
Westin Prince Hotel rebranded Pan Pacific Toronto
Pan Pacific Hotels Group is rebranding The Westin Prince Hotel to Pan Pacific Toronto. Pan Pacific Toronto will be the fifth North American hotel for Pan Pacific Hotels Group, joining other hotels in Vancouver, Whistler and Seattle.
Toronto erects Chinese-language development sign
• CBC
For what’s believed to be the first time, a sign informing residents of a new development application in Toronto’s Chinatown is going up not in English, but instead in the language commonly used by the people who live there: Chinese.
Rogers unveils new concept store in Toronto
• Toronto Star • Globe Newswire
When shoppers wander around Rogers Communications Canada Inc.’s (RCI-A-T) newest store at Yonge and Dundas, their senses will be tickled by the smell of freshly ground coffee beans and the melody of Canadian crooner Tyler Shaw’s voice.
Leon’s 50 years on TSX, continues expansion
Leon’s Furniture Limited (LNF-T) recently celebrated 50 years as a publicly-traded company on the Toronto Stock Exchange – one of the first retailers in the country to join the TSX – as the company continues to expand its footprint across the country.
Accessibility tracks sustainability trajectory
Market pressure and industry competitiveness could propel accessible commercial real estate in the coming decade, much the way those complementary forces have already bolstered energy efficiency and low-carbon footprints, attendees heard at the inaugural Accessibility Professional Network Conference this fall.
ERES acquires $153M Dutch mixed-use property
ERES REIT (ERE-UN-X) has agreed to acquire a 17-storey property, consisting of 222 residential suites, approximately 107,000 square feet of ancillary retail space and 432 indoor parking spaces for $153 million Cdn. The property, which was built in 2012, is located in southeast Amsterdam.
U.S. renters spent $4.5T this decade
U.S. renters spent a cumulative $4.5 trillion on rent during the 2010s, according to a new Zillow analysis. That’s more than the GDP of Germany or the combined market values of Apple, Microsoft, Amazon and Alphabet.
Opinion: Vancouver OKs first rental building under pilot
A pair of proposals for neighbouring seven-storey apartment developments sailed through rezoning approval Thursday night at Vancouver city hall, with almost none of the friction generally associated with just about any building taller than three storeys.
Is residential real estate still a great investment?
According to the Canadian Real Estate Association, the national average price for homes sold in October was up 5.8 per cent year-over-year. Home prices were still up by 4.7 per cent nationally when the Toronto and Vancouver areas are excluded.
Daniels and L’Arche partner on assisted-living apartment
• Globe and Mail (Sub. required) • RENX
Over the past two years, The Daniels Corporation has been working on something special for one of its condominium towers in the third phase of Regent Park’s redevelopment: a massive nine-bedroom apartment designed to meet the assisted-living needs of L’Arche.
3C brings affordable housing to downtown Toronto
Alfredo Romano’s 3C Waterfront development debunks the real estate adage that says you can’t have dissimilar income and demographic brackets co-existing on the same piece of high-priced real estate. Romano is president of Toronto-based Castlepoint Numa.
Industry Events
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Western Canada Apartment Investment Conference
May 07 2024
Vancouver
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Edmonton Real Estate Forum
May 08 2024
Edmonton Convention Centre
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Land & Development Conference
May 28 2024
Metro Toronto Convention Centre
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Montreal Real Estate Forum
Jun 06 2024
Montreal
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Southwestern Ont. Real Estate Forum
Jun 13 2024
RBC Place London
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