The Mayfair on Jasper, one of Edmonton’s top apartment buildings, is for sale. “It’s a pleasure to own, but everything has its time,” ProCura Real Estate Services CEO George Schluessel said. “If the deal’s right, we’ll sell it.”
It was topical, trendy, and totally sold out. Six speakers waxed lyrical about everything from #MeToo to paternity leave as it relates to CRE at the Future of the Workplace: Partnerships & Innovation to Celebrate International Women’s Day 2019 panel in Toronto.
Burlington city council is freezing downtown development for at least a year as it works out a plan to curb a sudden burst of development. Developers warn the move will have a massive impact on the city’s growth.
It has been nearly three years since law firm McCarthy Tetrault moved into an open-concept, transparent glass, “democratized” office space in downtown Vancouver. Gone are the walled-in perimeter executive offices, closed doors and ample private space of their former space.
Ottawa’s $4.6-billion Stage 2 transit expansion is a go. City council voted 19-3 Wednesday to extend the Confederation Line LRT to Trim Road, Algonquin College and Moodie Drive, and extend the Trillium Line to Limebank Road and the Ottawa International Airport.
The Ontario government will partner with a private company to build a new GO Transit station at the Woodbine Racetrack in Toronto. Woodbine Entertainment will pay for the design and development of the new GO station.
The Halifax Port Authority says discussions are underway with port authority tenants and CN Rail on how to better use the port’s assets and infrastructure. The Authority has submitted an application for funding through the National Trade Corridors Fund.
It is a PATH less travelled. Zoran Knezevic wants to open it to shippers and global container cargo carriers. But the Port Alberni Port Authority (PAPA) president and CEO will need $1.7 billion to do it.
A recent report says two new office towers will have a trickle-down effect on commercial real estate in Saskatoon. CBRE Research said the River Landing properties are the first true class-A office spaces in downtown Saskatoon since the 1980s.
Holloway Lodging Corp., (HLC-T) today announced it has sold the Days Inn and Travelodge hotels located in Moncton. The sale price for the hotels was $14.0 million representing a cap rate of approximately 9.3% and a price per room of $62,000.
Rack up another first for Calgary with the opening of the world’s largest Residence Inn by Marriott, which has welcomed guests to its classy new hotel on the corner of 5th Street and 10th Avenue S.W.
Slate Retail REIT (SRT-UN-T) today announced the completion of two property dispositions that will generate gross proceeds of $24.9 million. The properties sold include Wausau Pick n’ Save in Wausau, Wis., and Wellington Park in Cary, N.C.
The CEO of an Alphabet-backed entity planning a high-tech neighbourhood in Toronto revealed Thursday mass transit might be the project’s deal-breaker. Dan Doctoroff said Sidewalk Labs may lose interest in the project if transit to the area isn’t built.
Increasing and preserving rental housing in four neighbourhoods will be a priority for Vancouver during and after construction of the Broadway subway extension. This week, the city launches its two-year process to develop an area plan for the Broadway corridor.
REIT financial results:
Amazon.com Inc. (AMZN-Q) will close all 87 of its U.S. pop-up stores and focus instead on opening more book stores. The company’s shares closed down 1.4 per cent, while shares of bookseller Barnes & Noble Inc. (BNED-N) ended 8.9 per cent lower.
New technologies such as automation and artificial intelligence are transforming the construction industry. Drones can also have versatile roles in the real estate business. The unmanned aerial vehicles can help reduce risks, cut costs and reduce project timelines.