CREW M calls for gender equity on real estate company boards

RENX  Commercial  •  Human Resources  •  National, Greater Montreal

It’s time real estate firms achieved gender equity on their boards, says Sonia Gagnon of CREW M, the Montreal chapter of CREW Network (Commercial Real Estate Women). The association is calling for companies to commit to such equality by 2022.

Victoria, Vancouver rank highly for gender equality

Commercial  •  CBC  •  Policy Alternatives

Canadian cities must do more to address gender inequality, researchers say in the Canadian Centre for Policy Alternatives’ fifth annual study looking at which cities are the best and worst for women.

Goldie Initiative helps women rise up

Commercial  •  CP Executive

Eleven years ago, renowned Chicago real estate broker and entrepreneur Goldie Wolfe Miller launched The Goldie Initiative to help young women in real estate. Today, she is building a formidable platform that incorporates scholarship, mentoring and networking.

Petznick, Bell return to Devencore’s Toronto offices

RENX  Commercial  •  Human Resources  •  Toronto / GTA

Devencore’s Toronto office has two familiar faces back in the fold in senior positions. First, Tim Bell returned as managing director and broker. Friday morning. Devencore also announced the return of Mark Petznick as principal and senior vice-president.

Vancouver won’t fast-track towers to pay for subway

Commercial  •  Globe and Mail (Sub. required)  •  CBC  •  Vancouver Courier

Vancouver won’t accelerate the building of more towers along the Broadway corridor in order to generate more developer fees that could help pay for the planned major subway line, say top officials.

OREA calls for forced density near transit hubs

Residential, Commercial  •  Toronto Star  •  CBC

The Ontario Real Estate Association (OREA) wants Queen’s Park to force new zoning rules on municipalities to encourage more housing development around transit stations with an emphasis on mid-rise “missing middle” heights of six storeys or less.

Oxford Properties to sell $1.7B Aussie office assets

Commercial  •  IPE Real Assets

Oxford Properties is selling forty per cent of around $4.25 billion Cdn worth of assets in Australia held in the former Investa Office Fund. The property arm of Canadian pension fund OMERS is selling 11 non-core properties valued at more than $1.7 billion.

Hudson Yards bets $2B on new Manhattan mall

Commercial  •  Bloomberg

Developers and retailers have made a $2 billion wager that a new shopping mall can prosper in New York. The Shops at Hudson Yards, opening to the public March 15, has been given the herculean task of luring consumers to what was once a commercial desert.

Cisco invests $15M to expand in Western Canada

Commercial  •  Calgary Herald

IT and networking giant Cisco is expanding its operations in Western Canada. President Rola Dagher said Cisco Canada will spend $15 million to support new initiatives — including the addition of new senior artificial intelligence jobs to support the Western Canada operations.

NHL arena ‘not essential’ for LeBreton Flats

Residential, Commercial  •  CBC  •  Ottawa Business Journal  •  Ottawa Citizen

Ottawa’s National Capital Commission is taking a new approach to LeBreton Flats by offering up pieces of the 21-hectare property for development in stages, but says the do-over might not include an NHL arena.

The Palais des congrès de Montréal redefines its vision

Commercial  •  Canada Newswire

The Palais des congrès de Montréal recently unveiled the four pillars of its new vision predicated on becoming a leading advocate for Montréal and its unique brand of creativity.

Heritage Toronto’s State of Heritage Report to protect gems

Commercial  •  Construct Connect

Heritage Toronto released its State of Heritage Report, providing 15 recommendations on how to better promote and protect the city’s heritage. The report follows a year of research, consultations and engagement with 58 community organizations and over 500 members of the general public.

Casinos, RE long considered vulnerable to money laundering

Commercial  •  Globe and Mail

Canada’s money-laundering watchdog was cautioned as far back as 2014 that the country’s banking, real estate and casino sectors were vulnerable to sophisticated criminals washing vast sums of illicit cash. However, a report was never finished because the author was reassigned.

Practical Law Canada adds CRE module

Commercial  •  webwire

Thomson Reuters announced the launch of Practical Law Canada – Commercial Real Estate, a new module that provides expert guidance and tools to cover all aspects of commercial real estate practice, including acquisitions, leasing and financing.

Abercrombie to close up to 40 additional stores

Commercial  •  CNBC

Abercrombie & Fitch said Wednesday it plans to close up to 40 additional stores, with the majority of closures slated in the U.S. Over the last eight years, Abercrombie has shuttered about 475 stores.

REIT financial results:

Commercial  • 

BSR REIT, (HOM-U-T), Canada Newswire

Melcor REIT, (MR-UN-T), Globe Newswire

Pure Multi-Family REIT, (RUF-UN-X), Canada Newswire

Availability of new Metro Vancouver condos skyrockets

Residential  •  Business In Vancouver

For buyers looking for a new-build condo in Metro Vancouver, there’s good news – the number of available units has skyrocketed, according to the Urban Development Institute’s quarterly State of the Market report.

Nova Scotia changing rules around Airbnb

Residential  •  CBC

The Nova Scotia government has introduced two bills aimed at short-term rentals but is in no hurry to impose rules on Nova Scotians who use popular sites such as Airbnb or VRBO.

Montreal renters’ groups call for a ban on Airbnb

Residential  •  Montreal Gazette

Two tenants’ organizations are seeking a ban on short-term rental platforms like Airbnb. The Comité logement du Plateau-Mont-Royal and the Comité logement Ville-Marie say existing efforts to regulate platforms where tourists can rent homes for shrot-term stays aren’t working.

Affordable homes mark a mature, stable Manitoba

Residential  •  Western Investor

As Vancouver homebuyers fear they will never be able to afford the million-dollar price tags and Calgarians fear they will never be able to sell, Winnipeg residents can buy a nice detached house for $305,000 and typical condo apartments for under $200,000.