Graywood Developments has closed its ninth private real estate development fund and acquired a downtown Toronto property where it plans to build a residential high-rise. Couche-Tard sold the site for $73 million after acquiring it in 2016 for $4 million.
Longstanding relationships with a local broker and a development partner have made it possible for Vancouver’s Denciti Development Corp. to find a prime building site in Langley, and to quickly move ahead with a much-needed strata industrial development.
The Jim Pattison Group has reportedly acquired a high-profile property across from Mayfair Shopping Centre. The lot is the last piece of a puzzle for the billionaire businessman, who now owns an entire Victoria block considered prime for residential development.
Beyond achieving the alphabet soup of environmental and health certifications, building owners and managers have to build sustainability into their day-to-day checklists and activities, sustainability experts said during a BOMEX Virtual 2020 panel discussion.
During Q3 2020, the multi-suite residential and industrial sectors remained resilient, according to Morguard Corp.’s (MRC-T) latest Canadian Economic Outlook and Market Fundamentals Report. Meanwhile, the office and retail segments witnessed increased vacancy levels in most Canadian cities.
On an unseasonably warm October afternoon, the Horseshoe Tavern on Toronto’s Queen Street West was eerily quiet. A few diners sat on its makeshift sidewalk patio. Since mid-March, the 73-year-old music venue has either been closed or empty.
CF Rideau Centre‘s Brian O’Hoski is hoping an uptick in “purpose-driven” shopping trips can prevent 2020 from being a blue Christmas. “It’s more purposeful shopping trips as opposed to all the office workers and government workers coming downtown,” O’Hoski says.
Montreal-based real estate giant Ivanhoé Cambridge has laid off about 50 employees as it continues efforts to turn around the performance of its shopping centres. Twenty-four of Ivanhoe Cambridge’s 44 shopping centres are located in Canada.
Thanks to changing shopping habits, Hudson’s Bay Co. has revealed plans for an ambitious digital strategy that will allow third-party sellers to join its online platform and could more than double the company’s digital business within two to three years.
Kraft Heinz Canada announced a US$17.6-million expansion of its Mount Royal, Que., facility to pumpout the equivalent of 13 million one-litre bottles each year starting in 2021. The Quebec government on Tuesday morning announced it will loan $2 million of the total.
Catherine McKenna, Canada’s minister of infrastructure and communities, has committed to developing a national infrastructure assessment initiative to identify long-term infrastructure needs and priorities.
In its latest Provincial Economic Outlook, The Conference Board of Canada forecasts for most Canadian provinces, economic activity is not expected to return to pre-COVID-19 levels until the second half of 2021.
Peter Cardew took pride in designing “ordinary buildings” – whether an office tower, school, sawmill or house – with an inventive brilliance that often redefined their generic paradigms. The Vancouver-based architect was famous among his peers, though less well-known to the public.
Manhattan’s biggest office realtor SL Green has taken out a $1.25 billion construction loan for its much-heralded renovation of One Madison, representing a statement of confidence on the part of both SL Green and its creditors NYC businesses will soon rebound.
Demand for hotel guestrooms was down by 36.8 per cent year-over-year nationwide in Q3, while hotel occupancy decreased by 37.9 per cent, according to a new CBRE report. The average daily rate fell by 26.6 per cent year-over-year, while RevPAR tumbled 54.4 per cent.
Investors in two real estate funds run by Bank of Ireland Group Plc’s New Ireland unit will no longer face a six-month wait to withdraw their money, as the company dropped a measure introduced as the pandemic took hold.
Intracorp has reworked an upcoming project on Victoria Drive near the Commercial-Broadway SkyTrain station from 50/50 rental/strata to 100 per cent rental. The developer originally applied to rezone the site in 2017, proposing a 10-storey building with 145 units.
As COVID-19 worsened in October, the housing market put on a display of double-digit price increases in cities across the country. Average resale prices in Chilliwack, B.C., jumped by $110,409 to $616,857 year-over-year. Hamilton prices soared $103,600 to $727,100 and Sherbrooke prices rose $88,110 to $336,613.
Canadian home prices rose 1.3% in October from September, the strongest gain for an October in the index’s 22 years, led by robust growth in the regions of Ottawa-Gatineau and Hamilton, the Teranet-National Bank Composite House Price Index showed on Wednesday.
While the Barrie area is a mecca for those racing out of Toronto looking for a quieter place to live, the small city also checks off all the boxes for those who want to park their real estate investment.