It took a decade to acquire the land, but developers of a proposed Crosstown mixed-use project on a 60-acre Toronto site aren’t wasting time moving forward. Aspen Ridge Homes has released an updated proposal for the expansive, master-planned community.
Luxury casino Parq Vancouver’s parent company missed an interest payment on a second-lien loan as it struggles to refinance debt taken on to build one of the largest-ever private developments in British Columbia.
The final step in PRO Real Estate Investment Trust’s nearly year-long transformation will take place Tuesday, May 7 when the trust begins trading its shares on the Toronto Stock Exchange. To celebrate, PROREIT management will open the market that morning.
Killam Apartment REIT (KMP-UN-T), which owns and operates several P.E.I. properties, has agreed to buy 50% interest in the Charlottetown Mall from RioCan REIT (REI-UN-T) for $23.7 million. Killam plans to develop up to 300 residential units on the property.
For the first time in 2.5 years, Canada Mortgage and Housing Corporation has rated the housing market as only moderately vulnerable, indicating the hot conditions characterized by bidding wars and sky-high prices may be cooling off a little.
Ontario’s PC government says it will ease the housing crunch with a sweeping package of measures aimed at getting more houses built more quickly, but critics say the move to increase the powers of the land-use tribunal favours large developers.
An Ottawa developer has revived a plan to build two mixed-use high-rises. In planning documents filed with the city, Trinity Development Group says it is proposing to construct a pair of 25-storey condo towers with ground-floor retail space.
For half a century, a city block at the intersection of University Avenue and Dundas Street West was the heart of a publishing empire. It’s about to become one of the most central residential and office addresses in Toronto.
A Calgary planning and urban development committee is recommending a way to make it easier for so-called “pop-up” and interim businesses to get off the ground. The hope is to stimulate economic activity and reduce vacancy rates.
Plaza Retail REIT (PLZ-UN-T) announced it has successfully completed the sale of eight single-tenant properties in four separate transactions for total consideration of $9,900,000. The fully leased properties total 19,309 square feet and are located in Winnipeg, London, Ottawa and Halifax.
Summit Industrial Income REIT (SMU-UN-T) has gained over 23 per cent so far this year. Overall, REITs specializing in industrial properties are doing very well these days. Dream Industrial REIT (DIR-UN-T) is up almost 22 per cent so far in 2019.
REIT first-quarter financial results
WeWork‘s breakneck expansion into new markets is only likely to increase now that it plans to go public. Yet the nine-year-old company faces stiff competition in Europe from established work-space providers like IWG Plc and local startups.
Ever since the run-up to the referendum on EU membership, the U.K. economy – and, by extension, and the domestic real estate market – has been under the shadow of uncertainty. London’s real estate market is one of the globe’s deepest.
According to the International Monetary Fund (IMF), real house prices increased in most countries in the past year and, since bottoming out in 2011, global house markets have climbed steadily.
Montreal’s real estate market remained on fire in April with residential home sales increasing 11 per cent from a year ago. The Quebec Professional Association of Real Estate Brokers says sales in metropolitan Montreal marked the 50th consecutive monthly increase, rising to 5,973 units.
Metro Vancouver’s home sales dipped in April to more than 43 per cent below the 10-year sales average. According to the Real Estate Board of Greater Vancouver, there were 1,829 residential sales in April, down 29.1 per cent from April 2018.
One of Canada’s wealthiest cities plans to develop housing geared to moderate-income residents such as teachers and first responders, an effort to respond to the sky-high cost of housing in the community the workers serve.
In some ways it’s the ultimate Rosedale home: a 17,000-square-foot residence with wraparound ravine views and a living room big enough to accommodate up to 200 guests a time. But Integral House, located on Roxborough Drive, is not for everyone.