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KingSett selling T.O.’s Valhalla Village redevelopment site
KingSett selling T.O.’s Valhalla Village redevelopment site
KingSett Capital is selling its 4.5-acre Valhalla Village, a site along the Highway 427 corridor in the western part of Toronto which is slated for almost a million square feet of redevelopment.
Taggart to build new Ottawa office building for Kinaxis
The Ottawa office construction sector is, suddenly, booming. Taggart Realty Management has been chosen to supply a 153,000-square-foot, purpose-built office building in the city’s Kanata sector for supply chain planning software company Kinaxis.
Montreal hotels buoyed by boom in jobs, tourism
After a decade of declining room inventory, Montreal is beginning to see a renaissance in its hotel industry. Hoteliers are investing in new construction as well as redeveloping existing properties to meet growing demand from business travellers and tourists.
Airport City nears milestone in new development
The Edmonton International Airport expects to mark a major milestone before the end of this year — more people will be heading to the airport area to shop or work each day than to board flights.
Spending on non-residential projects slides in Alberta
• CBC
Investment in non-residential building projects has been falling in Alberta and Calgary. Over the past 12 months, investment peaked at $333 million in October in Calgary — and it’s been trending downward since, settling in at $287 million in May, according to Statistics Canada.
Calgary construction a family affair for Simpsons
Few families have been associated with the Calgary construction industry as long as the Simpsons. Their history dates to 1942 and the Burns and Dutton Concrete and Construction Company that hired Jack Simpson as chief engineer in 1949.
Calgary arena ticket tax would be fraction of Edmonton’s
• Calgary Herald • Vancouver Province • CBC
A ticket tax for events held at the proposed new Calgary arena falls short of the threshold that would be needed for the city to recoup its investment in the facility, University of Calgary economist Trevor Tombe says.
Timbercreek’s Winnipeg redevelopment to finish in 2020
The downtown Winnipeg Medical Arts Building will be home to more than 100 apartment units, along with office and retail space, when redevelopment is finished. Completion is anticipated in spring 2020, says Timbercreek Asset Management executive director of marketing Colleen Krempulec.
REM’s expropriation operation almost complete
The expropriation operation is virtually complete for the Metropolitan Express Network (REM). The Department of Transport has acquired 132 lots of the 145 lands affected by a notice of expropriation. The first phase is expected to be complete by 2021.
SNC retreats from bidding on Canadian projects
• Globe and Mail (Sub. required) • Globe and Mail • Canada Newswire
SNC-Lavalin Group Inc. (SNC-T) is pulling out of bidding on several major Canadian infrastructure projects as the fallout from the company’s strategic shift begins to be felt throughout the country, company spokesman Nicolas Ryan confirmed.
Indigenous group wants to buy Trans Mountain pipeline
An indigenous-led group has submitted a preliminary proposal to the Canadian government outlining its plans to bid for a $6.9-billion majority stake in the Trans Mountain oil pipeline expansion project, a spokeswoman for the group said on Friday.
Teck’s $20B oil sands project gets regulatory green light
• Business In Vancouver • Financial Post
A $20 billion oil sands project proposed by Vancouver’s Teck Resources Ltd. (TECK-B-T) has been deemed to be in the public interest by a joint review panel. The panel found Teck’s massive 260,000 barrel-per-day oil sands mine would have significant environmental impacts.
Zara founder’s CRE assets worth $11B US
• livemint • Toronto Star
Amancio Ortega, Europe’s richest man and founder of retailer Inditex, had commercial property assets worth $11 billion US at the end of 2018, up 11.5 per cent from the previous year according to his investment firm on Wednesday.
China commercial property investment slows in Q2
• IPE Real Assets • Business Insider
Mainland China’s commercial property investment during the second quarter of 2019 recorded a 19 per cent declined compared with the same period a year earlier, according to new research from Cushman & Wakefield Research.
NYC doubles down on empty storefront problem
Take a stroll down Manhattan’s Fifth Avenue and you’ll find the emptiness hard to ignore. Walk one block east to Madison Avenue, and nearly 30% of all shops are available for rent, according to a report by brokerage Cushman & Wakefield.
Investment in U.K. residential property up 150%
The uncertainties of Britain’s departure from the European Union hasn’t stopped investors from backing the U.K.’s residential sector. Total investment volumes in the U.K.’s multi-family sector rose by more than 150% to $7.6 billion US in 2018, according to a JLL report.
Saanich development expected to ease students’ housing crunch
Saanich council earlier this month all but signed off on Abstract Developments‘ plans for a six-storey, mixed use building with 76 rental units on top of two commercial retail units. The area is popular with students attending the University of Victoria.
Beedie sets record for Burnaby project sales
• Burnaby Now • RENX
Beedie has set a 2019 record for the speed it has sold its Burnaby Heights-based project, Storia. Storia has just become Metro Vancouver’s fastest-selling community in recent months, selling 80 per cent of its units in two weeks after opening on July 13.
Big-ticket spending to rekindle household debt binge
Canada’s $2.19-trillion household debt load will likely start swelling again, now that the central bank appears to be on hold for at least the rest of the year with the economy going strong, says BMO Global Asset Management’s Fred Demers.
Toronto bungalow owner gives up fight to sever property
Rob Thompson has given up the fight to sever his Long Branch property. His decision clears the way for a monster home to replace his tiny bungalow. Thompson had hoped to supplant the 1939 cottage with two family homes.
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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