‘We’re going to skirt recession’: BMO’s Gregory

RENX  Residential, Commercial  •  Investment  •  National, International

Economist Michael Gregory had a message for CRE professionals at Thursday’s RealREIT conference in Toronto which likely left them feeling better about Canada’s economic future than when they’d entered the room. “We’re going to skirt recession, that’s the important thing.”

Chartwell builds now for future seniors housing needs

RENX  Residential  •  Seniors Housing  •  National

A “short-term” oversupply of seniors housing units in some markets isn’t slowing Chartwell Retirement Residences’ (CSH-UN-T development plans. The firm has opened three properties this year and has nine in its development pipeline for a coming wave of aging Canadians.

Feds urged to revisit airport privatization

Commercial  •  Globe and Mail (Sub. required)

A series of strong years has allowed the Greater Toronto Airports Authority to pare down its debt. It might also open the runway for the federal government to look again at selling off the airport after this fall’s election.

Prince Rupert port receives $153.7 million from feds

Commercial  •  Western Investor

Continued development of the Port of Prince Rupert received a financial injection from Ottawa with the announcement of $153.75 million in funding for three projects. Key project components include construction of a new double-track bridge across the Zanardi Rapids.

Developer Thomas Fung on starting from the bottom

Commercial  •  Globe and Mail (Sub. required)

When I started our first shopping mall, the Aberdeen Centre, we could not compete with mainstream malls, where there’s an almost identical tenant mix. So I had to go into a niche market.

Beedie building brighter future in Calgary area

Commercial  •  Calgary Herald  •  RENX

When Keith Beedie started his construction company in Vancouver 65 years ago, he never imagined it would evolve into what it is today. Under the leadership of his son, Ryan, Beedie is one of the largest industrial developers in Western Canada.

The Apartment Building Expert › Managing risk while developing real estate

Derek Lobo: Founder and CEO , SVN Rock Advisors Inc.

Real Matters RE tech stock could touch $1 billion

Residential  •  Motley Fool

Toronto-based Real Matters (REAL-T) provides a proprietary platform that helps residential real estate appraisers and insurance underwriters judge the value of properties. It’s a market Real Matters believes could be worth $13 billion. Real Matters is currently already worth $900 million.

HBC chases relevance in millennial shopper era

Commercial  •  Financial Post  •  CTV

When Sears Canada announced it was closing all of its stores in 2017, Hudson’s Bay Co. (HBC-T) saw an opportunity: HBC’s Canadian department store chain would swoop in and snatch Sears’ customers. The plan worked at first.

Brick takes over Sears site in WEM

Commercial  •  Global News

A little over a year after retail giant Sears closed its doors for good in Canada, the Brick opened its doors to customers at its new West Edmonton Mall location earlier this week.

New stores opening at Cominar’s Galeries de Hull

Commercial  •  Canada Newswire

Ardène will open a 12,000-square-foot store in fall 2019 at Cominar’s Galeries de Hull. L’Atelier de danse Carole Brouard will also open its dance studio in January, occupying 7,000 square feet in the former Sears.

Nordstrom Rack coming to Willowbrook mall

Commercial  •  Canada Newswire

Seattle-based Nordstrom, Inc. (JWN-N) plans to open a Nordstrom Rack at QuadReal Property Group-managed Willowbrook Shopping Centre in Langley, B.C, marking the seventh Nordstrom Rack to open in Canada. The approximately 30,000-square-foot store is scheduled to open in spring 2020.

Trade war increasing demand for U.S. industrial

Commercial  •  National Real Estate Investor

The U.S. trade war with China is casting a cloud of uncertainty over the U.S and global economies, but it is having a positive impact on industrial real estate on both sides of the U.S./Mexico border.

New Yorkers are leaving the city in droves

Residential  •  Forbes

One million people fled the New York Tri-State area — which encompasses New Jersey, Connecticut and Long Island — during the past nine years. According to Bloomberg, almost 300 people per day are moving out of the area.

Locnest offers landlords peace of mind

Residential  •  Montreal Gazette

Locnest is a Montreal-based company that provides a lease guarantee to landlords to compensate them if a tenant damages their property or fails to pay their rent. The lease guarantee could open doors for tenants looking to rent in Montreal.

Why isn’t Toronto building more apartments?

Residential  •  Toronto Star

Anyone who has tried to find a rental apartment in Toronto knows the heartbreak. The outrageous rents, the waiting lists, the hopes of finding a decent place at a decent price, only to discover it’s an uninhabitable dump.

Killam properties survive Hurricane Dorian unscathed

Residential, Commercial  •  Canada Newswire  •  CBC  •  CBC

Killam Apartment REIT (KMP-UN-T) confirms no major damage to any of its properties from Hurricane Dorian. Killam is waiting for power to be restored across the region. Killam, based in Halifax, is one of Canada’s largest residential landlords.

Ottawa issues record number of building permits

Residential  •  CBC

The City of Ottawa’s planning department has been busy, issuing more building permits for new homes in 2018 than any year since amalgamation. The city handed out 8,400 permits for new units in 2018.

GTA detached-housing market breaking out of slump

Residential  •  Globe and Mail (Sub. required)

Sales of detached houses in the suburban 905 region outside Toronto are leaping higher after a two-year slump, posting gains of 20 per cent or more in every month since April.

Saskatchewan working to get Airbnb to charge PST

Residential  •  Regina Leader-Post  •  Calgary Herald

Airbnb is booming in Saskatchewan and the provincial government wants its share. Since early this year, the province has been trying to get Airbnb to comply with new legislation that is meant to include PST collection.