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Medallion steps into developing 260 High Park condos
Medallion steps into developing 260 High Park condos
In the big picture of Toronto developments, Medallion Capital Group‘s 260 High Park Church Lofts & Residences isn’t a large project. But for Medallion, it’s a major step as the firm moves from being a management partner to being the developer.
Canada’s smaller cities carve out slices of tech pie
While it’s no surprise Toronto remains Canada’s top technology market, some smaller cities are making inroads in the field according to CBRE’s Scoring Canadian Tech Talent report. CBRE Canada vice-chairman Paul Morassutti said large players are increasingly taking notice.
Innisfil approves radical development plan
• Simcoe.com • Globe and Mail (Sub. required)
The GO train has left the station and is headed into orbit. Next stop, Innisfil, the “squircle” city. The vision for a next-generation development was recently unveiled and the proposed 6th Line GO station received a 100 per cent funding commitment.
Shopify to launch Ottawa distribution facility
As it builds out its own fulfilment network, Ottawa’s Shopify is planning to launch its own distribution facility in the National Capital Region as a “centre of excellence,” according to job postings on the e-commerce company’s website.
Toronto malls address holiday parking mayhem
With parking spots increasingly at a premium, Greater Toronto Area malls are turning to a mix of new technology, old-fashioned valet service and more staff to help deal with it.
CF tests shopping app to fend off e-commerce threats
• Globe and Mail (Sub. required) • Canada Newswire • RENX
Canadian mall owner Cadillac Fairview is testing a shopping app and planning to introduce digital payments to try to fend off e-commerce threats and tap into the lucrative mobile payments market.
How Amazon will reshape Vancouver’s tech scene
• Globe and Mail (Sub. required)
Thousands of new Amazon.com Inc. jobs in downtown Vancouver will reshape the city’s technology sector by triggering a talent war, boosting wages and driving immigration, local tech leaders say – while further tightening one of Canada’s highest-demand housing markets.
Technology can justify more suburban sprawl: UDI
Greater suburban sprawl, such as that occurring in Coquitlam and elsewhere beyond Vancouver, can be justified as sustainable if it’s paired with technological advancements, dense housing and an investment in the public realm according to an Urban Development Institute forum.
Council reaffirms $290M arena deal with Flames
• Calgary Herald • CBC • Globe and Mail (Sub. required)
A budget amendment to reallocate $290 million committed for a new Calgary Flames arena toward three city projects was defeated in a council vote Friday. Coun. Evan Woolley sought to redirect the public money toward the Green Line LRT.
Maple Ridge’s largest project in works
Era, a SwissReal development, will represent Maple Ridge’s largest project. The 7.5-acre site is set to be developed over seven phases and will include nearly 900 homes, as well as 50,000 square feet of commercial and 10,000 square feet of office space.
Committee endorses Barrhaven Town Centre concept
A long-term plan to redevelop a Barrhaven retail hub into a “downtown of the suburbs” received the green light from a planning committee. The proposed amendment would see the Barrhaven Town Centre site reimagined for residential and commercial uses.
‘Deep pockets’ needed to redevelop Winnipeg HBC
• CBC
Winnipeg architect Wins Bridgman is “suspicious of the knee-jerk reaction” suggesting the Hudson’s Bay Co. building on Portage Avenue cannot be redeveloped. “The building needs to be thought of in an innovative way,” said Bridgman, co-founder of bridgmancollaborative Architecture.
Catalyst extends deadline for HBC bid
• CBC
Catalyst Capital Group has extended the deadline for the Hudson’s Bay Company Board of Directors to accept the offer formally at 5 p.m. today. The investment company made an unsolicited $11 cash offer for each HBC share, surpassing a $10.30 friendly offer.
Toppled Halifax crane removal cost $2 million
The province spent at least $2 million removing a toppled crane from downtown Halifax earlier this month with no plan to recover the cost. It has come under heavy criticism for taking on the cleanup without the assurance of being reimbursed.
Investors filling up on Couche-Tard stock
Alimentation Couche-Tard (ATD-B-T), North America’s largest convenience store owner, chalked up its highest stock price as solid quarterly results combined with a takeover bid for Asian expansion. The Laval-based company has made a $7.7 billion proposal to buy Caltex Australia Ltd.
Brookfield more cautious today than in 2009
Holding cash and staying diversified is how Brookfield Asset Management plans to weather an eventual economic downturn, says CEO Bruce Flatt. “We are close to 11 years in this economic cycle. I don’t think economic cycles have been repealed,” Flatt said.
Reports underestimate B.C. money-laundering
• Vancouver Sun • Vancouver Sun
A analysis of 12 cases over the past three decades paint a much wider picture of money-laundering in real estate than has been reported in the past three years in B.C., where the focus has been on B.C.’s biggest money-laundering case.
CMHC-insured rental units increase 35% YOY
The number of rental housing units insured by Canada Mortgage and Housing Corporation (CMHC) rose by 35 per cent year-over-year during Q3 2019.
Montreal ramps up transfer taxes
The City of Montreal plans to increase property transfer tax revenues by $10.4 million in 2020 by adding a new three per cent threshold for transactions worth more than $2 million. Last year, the maximum rate was 2.5% for properties with a value exceeding $1,017,400.
‘Mansion party’ shooting victim sues Airbnb, property owner
• CBC • Toronto Star
A 19-year-old who was shot at a Toronto “mansion party” hosted in an Airbnb rental is now suing the company, the property owner and the event’s alleged organizers. McCann attended the party in Toronto’s west end on April 26.
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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