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Primaris to demolish portion of Windsor's Devonshire Mall
Primaris to demolish portion of Windsor's Devonshire Mall
A long-vacant former Sears store at Primaris REIT's Devonshire Mall in Windsor will soon be demolished as part of a redevelopment to open up land for future uses. Devonshire is the province's largest enclosed shopping centre outside the GTA.
HBC's Saks Fifth Avenue flagship appraised at $3.6B
Hudson Bay Company (HBC), owner of Saks Fifth Avenue, is in talks to acquire competitor Neiman Marcus. As part of the proposed financing, Saks’ flagship store at 611 Fifth Ave. in Manhattan was valued at $3.62 billion.
Toronto developers put new spin on the 'company town'
About two hours east of Toronto, DECO Communities and its partners are building a town that will include concert venues, creative work spaces, shops, community gardens, sports courts, parks and walking trails alongside about 7,500 homes - including worker housing.
 | Design, Policy and Canadian Cities Next in line for review: Toronto's tall buildings guidelinesNaama BlonderArchitect, Urban Designer, Urban Planner | B.Arch, OAA, RPP, MCIP |
Lantower Residential Real Estate Development Trust files IPO
Lantower Residential Real Estate Development Trust (No. 1) has received expressions of interest and commitments expected to achieve the maximum offering amount of US$52 million and has obtained a receipt for a final prospectus for an IPO.
Tricon shareholders approve Blackstone privatization deal
Tricon Residential Inc. announce that at a special meeting shareholders approved the previously announced statutory plan of arrangement under the Business Corporations Act (Ontario) to which Blackstone affiliated companies will acquire all the outstanding common shares of Tricon for cash.
Quebec refuses to disclose Northvolt factory site analysis
The Quebec government has refused to reveal the analysis of different lands suitable for the Northvolt battery mega-factory, arguing there is only one location that meets all five criteria based on analysis the Directorate of Industrial Land and Infrastructure.
Telsec transforms YMCA into Eau Claire Athletic Club
When Telsec Property purchased Calgary's YMCA building in 2022, with 115,000 square feet over four levels, it considered a residential use but ultimately opted to convert it to a private sports club to utilize many of the existing facilities.
Too Good To Go sets expansion sights on every Cdn. Tim's
Tim Hortons (QSR-T) is expanding its partnership with an app that sells food at a discount before it goes to waste; and Too Good To Go hopes to expand the service into every Canadian location.
Revised cannabis regulations may allow retailers in malls
A tweak to the rules governing store configurations could make Ontario’s enclosed shopping malls more welcoming for cannabis retailers. The provincial government is seeking public input concerning changes to reduce the regulatory burden on licensed cannabis retailers.
Insolvencies, shifts in consumer habits keep liquidators busy
Over the past year, liquidators across the industry have been fielding more calls and cramming their warehouses with more products, as businesses look for a way to get rid of goods and as insolvencies have ballooned.
Impact of real estate lawsuits remains uncertain
Two North American court cases are taking the real estate industry to task over commissions paid to Realtors. While the Canadian lawsuit has the potential to shake B.C.’s housing market, experts don’t agree on the potential fallout.
Contractors sue McMaster U. over several campus projects
McMaster University is “considering a range of options” to dispute multiple lawsuits from contractors related to the construction or renovation of several on-campus buildings, including one by a company that alleges it is owed nearly $19 million.
Region tries to stop housing for asylum seekers on Greenbelt
Despite notices of bylaw infractions, the evangelical church Miracle Arena for All Nations says it has no plans to stop housing asylum seekers on its property in northern Vaughan. The property has four makeshift shelters on a sprawling Greenbelt property.
Proper Title's Kathy Kwak on resilience of the title industry
Title insurance isn't one of real estate's glamour niches, but its place at the foundation of a deal is as important as a physical foundation says Proper Title's COO Kathy Kwak, a former real estate attorney and an underwriter.
Blackstone sells $1B in California warehouses to Rexford
Blackstone Inc. sold 48 warehouses in Southern California to Rexford Industrial Realty Inc. for $1 billion. The properties total more than three million square feet. They are 98% leased and mostly located in Los Angeles and Orange counties.
Top-10 U.S. hotel/motel and retail/shopping centre projects
The accompanying tables show the Top-10 major upcoming hotel/motel and retail/shopping centre construction projects in the U.S. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.
Malls were a dirty word in CRE. Now retail is a bright spot.
Surprise! Malls are back. Foot traffic at U.S. shopping centres has been staging a comeback since the darkest days of the pandemic, with visits last year only 2.3% below 2019 levels, according to data platform Placer.ai.
The CRE urban doom loop may still be coming
There may be an even deeper challenge for big cities like New York or San Francisco than office vacancy. Commercial real estate tenants that cater to daily workers are big contributors to now-declining tax bases in many cities.
5 charts that capture Miami's real estate slowdown
As the pandemic emptied many of America's cities, Miami was filling up. Wealthy migrants flocked to South Florida's biggest city, attracted by its weather, looser public health restrictions and lower taxes. Miami's economy boomed. But the narrative has shifted.
Industry Events
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Western Canada Apartment Investment Conference
May 07 2024
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