Toronto developer and real estate investor Marlin Spring has moved into the office sector, buying majority interest in 81 Metcalfe St., a 12-storey office building in Ottawa’s Central Business District. Marlin Spring and Colonnade Bridgeport are now co-owners of the tower.
Reserve Properties and Westdale Properties have broken ground on the latest major development near Yonge Street and Eglinton Avenue East in Toronto, the Line 5 condominiums. Construction of the 19-km Eglinton Crosstown LRT has made the area intensely appealing for development.
KingSett Capital has proposed a mixed-use development with towers of 33 and 31 storeys, which would be connected by a podium ranging in height from four to seven storeys and include retail space and a link to the new Bloor-Lansdowne GO station.
Artis REIT has announced its first transactions under its new management team; a joint venture to build a 561,000 square foot industrial development in the Phoenix area, and the sale of three more non-core assets – shopping centre, office and industrial properties.
Epta Development Corp. is planning a 12-storey rental tower with below-market units. The Vancouver development would include a six-storey podium, a total of 175 units (35 per cent of which will be offered at below-market rents), and street-level retail spaces.
Bousfields Inc., planning consultant to Ontario Holdings Ltd, proposes an infill project in Toronto’s Moss Park neighbourhood which could bring over 300 new rental dwellings and residential amenities to two existing apartment buildings at 191-201 Sherbourne St.
CPP Investments and Greystar Real Estate Partners have formed a joint venture to develop multifamily real estate in the U.S. CPP Investments has allocated US$350 million of equity for a 90% stake and Greystar is investing US$39 million for the remaining 10%.
The AMPED Sports Lab and Ice Complex, a privately operated arena and training complex in the south end of Ottawa, has become the first such facility to achieve the zero-carbon building performance standard.
BentallGreenOak has finalized the $58.5-million US leasehold sale of a 157,050-square-foot office property in downtown Washington, D.C. Tritower Financial Group acquired the building and financed the purchase with a $41.3 million seller carryback loan, according to public records.
Data and technology are quickly becoming available for a tech-driven future, but for proptech to succeed and deliver safe and sustainable work environments, building data must be brought under one roof for building managers to generate and implement actionable insights.
OPINION: While more people are having meals delivered to their homes, the Ontario government has ruled the commissions charged to restaurants by platforms like Uber Eats or DoorDash are capped at 20 per cent. In Quebec, practices are not regulated.
COVID-19 dramatically transformed the Canadian construction landscape in 2020 with more disruption to come in the new year. Stakeholders were invited to assess COVID’s continuing impacts for 2021 through the lenses of leadership, health and safety, the economy and projects and innovation:
Canadian households reported a surge in confidence in the final weeks of 2020 that has brought sentiment back to pre-pandemic levels for the first time since the economy crashed last year, according to polling by Bloomberg News and Nanos Research Group.
Avison Young announced a strategic affiliation with real estate advisory and asset management group Limehouse, which will now operate its advisory services in Budapest, Hungary under the AY brand, while carrying-on its asset management activity in parallel as Limehouse Partners.
Young Toronto architect Anya Moryoussef was hired to rebuild a little house, just one storey high and 17 feet wide – and yet, in terms of space and light, she chose to go big. “I am interested in this idea of an infinite architecture.”
A grant that helps B.C. homeowners offset a portion of their property tax is being raised to reflect an increase in the assessed value of their homes. The threshold for the 2021 homeowner grant has been set at $1.625 million, a $100,000 increase.
Luxury home sales over $3 million set a record in the midst of a pandemic in the GTA, with the number of freehold and condominium properties sold in 2020 topping peak 2017 levels, according to a RE/MAX of Ontario–Atlantic Canada report.
Short-term rentals are more densely packed in the downtown Toronto core, particularly in condo-heavy areas. The city centre from Roncesvalles to just east of the DVP and from the waterfront up to St. Clair are rife with short-term rentals.
The novel coronavirus pandemic that caused upheaval in the work and home lives of Canadians in 2020 will continue to shape the real estate landscape in Toronto and many parts of Ontario in 2021, says John Andrew, a professor at Queen’s University in Kingston.