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GWLRA acquires second redev. site on Vancouver’s Robson St.
GWLRA buys second redev. site on Vancouver’s Robson St.
GWL Realty Advisors has acquired a second development property along Robson Street in Vancouver. The purchase of 1555 Robson St., adjacent to a property it already owns, creates a 0.77-acre site to redevelop with 390 apartments plus retail.
20 Ont. corporate landlords dominated rent hike applications
Ontario's rental housing tribunal data shows 20 corporate landlords filed most of the applications to raise rents above provincial guidelines for most of 2022, which a Toronto lawyer says is a sign of the increasing concentration in the rental market.
Larco forfeits $20M in failed Burnaby land deal
Burnaby chief administrative officer Leon Gous says Larco Investments lost its $20 million deposit when it pulled out of a deal to buy an 18.5-acre site from the city for $136 million. Larco planned a film studio.
Sifton JV to convert downtown London office building
A downtown London, Ont., office building will be converted to 94 apartment units - 80 one-bedrooms and 14 two-bedrooms with 40 per cent affordable - in an alliance between London developer Sifton Properties, a housing agency and the Anglican Diocese of Huron.
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Saanich approves six-storey, 50-unit rental building
Saanich council greenlighted 73 units of new housing, including a six-storey, 50-unit rental building which would include 17 one-bedrooms, 24 one-bedroom-plus-dens and nine two-bedrooms. It now faces a public hearing and requires a community plan amendment.
Ottawa council OKs Lansdowne 2.0 procurement model
Ottawa city council has given the green light for the next stage of Lansdowne 2.0, voting 19-6 on Wednesday to approve the format of the contract to design and build a new event centre and north-side stadium stands.
A bylaw meant to transform T.O.'s Thorncliffe Park is failing
Not a single store, health clinic, gym or cafe has opened in Toronto's Thorncliffe Park as a result of a RAC (Residential Apartment Commercial) Zone bylaw passed a decade ago.
When the Olympics leave town, which venues survive?
When cities commit to hosting the Olympics the construction bills often hit billions of dollars, so it’s up to cities to make this worth it. Many do so by ensuring the venues get reused well into the future.
Algoma Steel, Sault Ste. Marie relaunch bid for port dev.
Sault Ste. Marie is shovelling some significant cash into reviving hopes of establishing a public-access port at Algoma Steel. City officials expect to spend $793,800 over the next three years to develop the idea.
PyroGenesis says green cement additive tests beat forecast
PyroGenesis Canada Inc. (PYR-T) says its cement additive made via a plasma-based process beat expectations for a strength test by 45 per cent, demonstrating the potential of the sustainable alternative to fly ash and cement.
Calgary retail leasing market thriving: JLL
Sustained demand and decreasing availability are driving Calgary’s retail leasing market, according to a JLL report: Calgary Retail Insight Spring 2024. It said rent growth is showing signs of deceleration but is expected to continue to rise.
Apple moving Montreal flagship store
Apple is renovating a heritage building at 1255 Sainte-Catherine St. W. in downtown Montreal for its flagship store. The move will represent a major expansion for the 9,000-square-foot downtown Apple Store, currently located at 1321 Sainte-Catherine St. W.
Queen's Cross Food Hall coming to CF Toronto Eaton Centre
Queen's Cross Food Hall, a chef-driven culinary concept by Oliver & Bonacini (O&B) will open at CF Toronto Eaton Centre on Wednesday, April 24. The 19,000-square-foot space will feature 13 unique food stalls and seating for 300 guests.
Pharmacy Brands Canada opens 200th location
Pharmacy Brands Canada, the fastest-growing pharmacy banner program in Canada, announced its expansion into Ontario with the addition of its 200th location, Baywest Pharmacy, in Ajax. In the upcoming year, it plans to open several additional Eastern Canada locations.
U.S. industrial leasing plunges in Q1
Industrial users in the U.S. slammed the brakes on leasing in Q1. Net absorption reached 28 million square feet nationwide in Q1, a roughly 70% drop from a year earlier, driving the vacancy rate up to 6.7% from 4.5% year-over-year.
Flagship acquires seven U.S. MHCs for $93M
Flagship Communities REIT (MHC-U-T) announced it has entered into agreements to acquire seven manufactured housing communities in the U.S., comprising 1,253 lots, for an aggregate purchase price of approximately US$93 million .
SL Green completes $2.1B debt restructuring
SL Green Realty Corp. (SLG-N) has completed a significant debt restructuring effort, totaling $2.1 billion. This move is part of the company's broader strategy to refinance, modify, or extend at least $5.0 billion of its existing debt.
Blackstone revives potential sale of Motel 6 owner
Blackstone Inc.’s (BX-N) real estate arm is once again exploring a sale of the owner of the Motel 6 brand, according to sources. G6 Hospitality owns both Motel 6 and Studio 6.
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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