20-20-20 mandate draws fire at Montreal Forum

RENX  Residential  •  Condominiums, Apartments  •  Greater Montreal

Montreal’s real estate community is up in arms about a proposed “20-20-20” City of Montreal regulation which would force large new residential developments to contain 20 per cent social housing, 20 per cent affordable housing and 20 per cent housing for families.

Lululemon plans 580,000-square-foot Vancouver HQ

Commercial  •  Vancouver Sun  •  RENX

Vancouver’s chief planner Gil Kelley is recommending city council approve a rezoning application that would allow Lululemon Athletica (LULU-Q) to build an 11- to 13-storey office building with a total floor area of 582,951 square feet in the city’s False Creek Flats neighbourhood.

Retail apocalypse sweeping across North America

Commercial  •  Montreal Gazette

Stores are going belly up all over North America. Canada has witnessed the Sears debacle and the end of such chains as Payless Shoes, Town Shoes, Nine West, Home Outfitters, Jean Machine, Claire’s jewelry. . . .  How bad is it? Really bad.

Sears Holdings suing Lampert, Mnuchin

Commercial  •  CBC  •  Retail Wire  •  Daytona Beach News-Journal

Sears Holdings (SHLWQ) is suing its former chairman and largest shareholder Eddie Lampert, alleging the billionaire stripped the once iconic company of more than $2 billion US in assets. The lawsuit also names former Sears directors, including U.S. Treasury Steven Mnuchin.

Cidex proposes three Calgary apartment buildings

Residential  •  CBC

If Calgary developer Cidex Developments receives council approval, it says it will build a trio of high-rise apartment buildings along the Elbow River in a long empty parking lot just west of Stampede Park.

ERES Canada’s first European-focused, multi-residential REIT

Residential, Commercial  •  Canada Newswire  •  RENX

ERES (ERE-UN-X) today announced the closing of its acquisition of a portfolio of 41 Dutch multi-residential properties from CAPREIT (CAR-UN-T). The transaction, for approximately $326.5 million, created Canada’s first European-focused, multi-residential REIT.

The Saskatchewan Edge › When not to buy commercial real estate

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Canadian architect leads pursuit of healthier buildings

Commercial  •  Globe and Mail

When Raefer Wallis graduated from university nearly two decades ago, Quebec was hardly the best place for a new architect. On Jan. 3, 2002, he landed in Shanghai, a city in the grip of a construction burst.

Therillia acquires Tavec; moving HQ to Montreal

Commercial  •  La Presse  •  Canada Newswire

Therillia Development Co., a Montreal-based subsidiary of Sanderling Ventures Canada, has acquired the biotechnology firm Tavec Pharmaceutical and will relocate the head office of the firm from New York to Montreal.

Quebec may force people to move from flood zones

Residential  •  Globe and Mail  •  CBC  •  CBC

Quebeckers whose homes are repeatedly flooded may eventually be forced to move, Premier François Legault said on Sunday as he toured an area enduring its second bout of spring flooding in three years.

35 years of Toronto transit that never happened

Commercial  •  CBC  •  Toronto Star

The Ontario government unveiled a plan earlier this month to build subways and extend existing lines. That announcement follows a time-honoured tradition of ambitious and often unfulfilled visions for the future of transit in Toronto.

Ontario’s top-rated builders honoured

Residential  •  Newinhomes.com  •  Globe Newswire

Tarion Warranty Corporation has announced the winners of the 2019 Homeowners’ Choice Awards. Th are the only new home building industry awards in the province where the winners are based purely on homeowner feedback.

Office fundamentals ‘relatively stable’: Analyst

Commercial  •  Globe and Mail (Subscription required)

Canadian office property market fundamentals are “relatively stable” outside of Alberta, according to Industrial Alliance Securities analyst Brad Sturges. “Certain Canadian property markets such as Toronto’s CBD have benefited in recent years from strong population and job growth . . .” said Sturges.

Saskatchewan’s historic hotels falling to flames

Commercial  •  Regina Leader-Post

Dale McLaren sat at the bar, downing an after-work beer inside the Kyle Hotel, when he caught the unmistakable smell of smoke. Since 2010, there have been at least 11 historic Saskatchewan hotels destroyed by fires, many in small towns and villages.

Notre Dame fire was a warning bell

Commercial  •  Winnipeg Free Press  •  Building Design and Construction  •  Winnipeg Free Press

It’s a thin line where the patina of age on Europe’s countless monuments gives way to the onset of neglect. Like with so many loved ones, all is assumed to be fine, until suddenly it’s not.

International investors extend inroads into China

Commercial  •  South China Morning Post  •  Globe and Mail  •  Global Times

International investors have extended their inroads into China’s commercial property sector this year, as the largest cities become hunting grounds for office towers, shopping malls and mixed-use projects.

Verve proposes mixed-use seniors residence for Vaughan

Residential, Commercial  •  Urban Toronto

Verve Senior Living has proposed a 17-storey, mixed-use development at 462 Wellington West in Toronto’s Fashion District. The project would include a new five-storey building along an existing five-storey office building, while new density would produce a total of 17 storeys.

Insurance won’t cover N.S. house ruined by sinkhole

Residential  •  CBC

A family that lost its house to a sinkhole in Falmouth, N.S., is planning legal action against Wawanesa Mutual Insurance Company, a Winnipeg-based insurance company, because it won’t cover the cost of the home.

More homes will temper Vancouver prices: Rennie

Residential  •  Vancouver Sun  •  Business In Vancouver

On Thursday, Vancouver developers gathered to hear Andrew Ramlo, vice-president of market intelligence at Rennie Group, talk about what he called real estate market myths, including the notion that “we have more than enough (housing) supply to satisfy demand.”

Hamilton homeowners struggling to pay taxes

Residential  •  CBC

The numbers showed a stark picture at Hamilton city hall last week – local taxes are higher than average. One report shows an increase in properties in danger of being seized and sold because homeowners can’t pay.