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Master-planned communities: Big projects, big efforts
Master-planned communities: Huge projects, huge efforts
Master-planned communities present more challenges than erecting a single building, putting pressure on developers to both pay attention to detail and build flexibility into their plans. “Don’t fall in love with your master plan . . .” First Gulf‘s Derek Goring cautions.
Manjis eye Ottawa, Calgary, Edmonton Westin hotels
• Globe and Mail (Sub. required)
An investment company controlled by the Manji family is near a deal to expand its real estate empire by buying three Westin hotels in Ottawa, Calgary and Edmonton. Barney River already owns a Hilton in downtown Toronto.
Shape set to transform Richmond Centre
Shape Properties hopes to have shovels in the ground by early 2020 at CF Richmond Centre to start transforming it into a high-density, transit-oriented neighbourhood with homes, shops and services.
RE top alternative asset for major investors: CIBC Mellon
Canada’s large institutional investors are boosting alternative investment holdings and despite relative dissatisfaction with its financial performance, North American real estate is their top priority CIBC Mellon says in a new report.
Kingsett to acquire Dream Industrial’s E. Canada portfolio
KingSett Capital will purchase the entire portfolio of Dream Industrial REIT’s (DIR.UN-T) Eastern Canadian properties, 38 assets and about 2.8 million square feet, for $271M. Kingsett is making the purchase on behalf of its KingSett Real Estate Growth LP No. 7 fund.
RFA Capital acquires Street Capital for $85M
• Canada Newswire • Globe and Mail (Sub. required)
Canadian-owned RFA Capital Inc. will acquire all of the issued and outstanding common shares of Street Capital Group Inc. (SCB-T) for approximately $85 million. RFA is an equity and debt investor focused on Canadian real estate, including Nexus REIT.
Halifax gets bigger, younger, richer
Bolstered by a year of record population growth, lowering unemployment and an increasing workforce, Halifax’s economy continued to grow into 2019, but is still contending with formidable obstacles such as a lack of affordable housing and an aging population.
Halifax apartment buildings drive permit totals up
• Halifax ChronicleHerald • RENX
The total value of building permits in Nova Scotia from the first of January to April increased 16 per cent to $526 million, compared to $423 million during the same period last year, Statistics Canada data reveals.
Lighthouse towers rising tall at Daniels waterfront site
Among the larger developments adding residential and employment space to Toronto’s East Bayfront, Daniels Waterfront – City of the Arts is building out the site of a former night club and warehouse with a mixed-use community.
Mayor seeks to build Montreal’s largest urban park
Montreal Mayor Valérie Plante plans to build a sprawling urban park on Montreal’s western tip, but developers might be standing in her way. A development project by Les Immeubles l’Équerre would encompass 5,500 to 6,000 residences.
Phyllis Lambert changed the way we think of cities
Shaughnessy House, built for Canadian Pacific Railway president Thomas Shaughnessy, was one of the crown jewels of Montreal’s Golden Square Mile at the time of its construction in 1874. But by the 1970s, it was slated for demolition. Enter Phyllis Lambert.
London office deals left hanging by abrupt Korean exit
Some of London’s biggest office deals have been left in limbo after the latest wave of Asian money into the British capital suddenly dried up. South Korean investors plowed $5.49 billion Cdn into London CRE in the year through January.
Tech stars spur Kanata traffic problem
If you really want to understand why traffic in Kanata has become such a chore for commuters, there’s a simple explanation. High-tech, and the firms that serve it, have been doing very, very well.
HBC CEO running out of options
• Globe and Mail (Sub. required) • Financial Post • Toronto Star
Richard Baker’s back is against the wall. Running out of options to revive Hudson’s Bay Co. (HBC-T), the real estate mogul has a new plan: Orchestrating a takeover to buy some time.
Rising office rents put squeeze on Vancouver non-profits
• CBC
The cost of renting office space in downtown Vancouver has gone up nearly 13 per cent compared with last year, and increased more than 31 per cent in the past two years, putting extra pressure on non-profit organizations.
Vancouver bidding wars not decreasing: CMHC
The Metro Vancouver real estate market may have slowed down over the past 18 months, but that doesn’t mean the dreaded bidding war is dead, according to a survey by the Canada Mortgage and Housing Corp.
Kitchener parking lot makes way for condo building
• CBC
The parking lot at Young Street and King Street West in Kitchener closed indefinitely Sunday, making way for a new mixed-use condo building. It’s the latest in a series of parking lot closures in downtown Kitchener.
Make 20% of condo units ‘affordable’: Victoria councillors
• Victoria Times Colonist • Victoria News
Victoria council could soon require developers to make 20 per cent of units “affordable” in larger new residential strata buildings, despite an analysis by Vancouver-based Coriolis Consulting warning against the move.
Brokers alleged to have worked with illegal shadow lender
A second unregistered mortgage broker with prior enforcement records has allegedly set up loans alongside registered mortgage brokers, according to the B.C. Registrar of Mortgages. It is the second such case in as many months.
Federal first-home program coming in the fall
• CBC • La Presse • Canada Newswire
The government Monday released details of a program announced during the last federal budget, an initiative that could see Canada’s housing agency contribute up to 10 per cent of the price of a buyer’s first home if certain conditions are met.
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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