Trinity begins developing its huge Ottawa pipeline

RENX  Residential, Commercial  •  Apartments  •  Ottawa

Trinity Development Group has been laying the groundwork for years to develop several major residential-focused projects in Ottawa. The company and its partners hope they are now about to start reaping the rewards of a 2,700-suite pipeline in the capital.

Three firms JV on $750M Quebec City development

RENX  Residential  •  Condominiums, Seniors Housing, Apartments  •  Quebec City

Developers Kevlar, Constrobourg and Groupe Patrimoine have announced construction of the $750-million Quartier Mosaïque, described as the largest-ever residential project in Quebec City. The Lebourgneuf-area project will have 2,200 housing units in 11 towers including condos, apartments and seniors housing.

Downtown Winnipeg HBC appraised at $0

Commercial  •  Winnipeg Free Press  •  Financial Post  •  Reuters

The Hudson’s Bay Co.’s (HBC-T) iconic flagship store in downtown Winnipeg is worth $0. Cushman & Wakefield conducted an extensive technical appraisal of the company’s multibillion-dollar real estate portfolio as part of a corporate transaction to take the company private.

Taking a look at Westbank founder Ian Gillespie

Commercial  •  BCBusiness  •  RENX

Embarking on his ambitious reinvention of Oakridge, the Westbank Corp. founder isn’t like other Vancouver real estate developers. What does Ian Gillespie think he’s doing, and what does it mean for the city?

Metro to increase use of self-checkouts

Commercial  •  Canadian Grocer  •  CBC  •  Canada Newswire

Metro Food and Pharmacy Group (MRU-T) plans to roughly double the number stores with self-checkouts during its 2020 fiscal year as the industry contends with a tight labour market. “It’s a challenge,” CEO Eric La Flèche said Wednesday.

Real Estate Wealth Insights › The sustainability of growth in Canada’s apartment market: Part II

Greg Placidi: Chief Investment Officer & Portfolio Manager, Equiton Capital

Loblaw expands e-commerce offerings

Commercial  •  Canadian Grocer  •  Globe and Mail (Sub. required)  •  Canada Newswire

Loblaw Cos. Ltd. (L-T) is expanding its online sales beyond groceries and other household products, to include toys, housewares and even furniture – by inviting third-party brands to sell their own products on its websites.

Amazon plans cashierless supermarkets in 2020

Commercial  •  National Real Estate Investor

Amazon.com Inc. (AMZN-Q) is preparing to open Amazon Go supermarkets and pop-up stores, an expansion of the company’s cashierless ambitions that includes the possibility of licensing the technology to other retailers.

Lalani proposes 30-storey rental tower for Yonge

Residential  •  Urban Toronto

About nine years after the 1888-built Empress Hotel was destroyed by fire, The Lalani Group has submitted applications for Zoning Bylaw Amendments and an Official Plan Amendment that would allow a 30-storey mixed-use tower on the 335 Yonge St. site.

GBL proposes Vancouver mixed-use project

Residential, Commercial  •  Western Investor

An 11-storey mixed-use building is being considered for a former Esso gas station site in South Vancouver’s Marpole neighbourhood. GBL Architects has filed a rezoning application for the project imagined for a now vacant lot at 8655 Granville St.

REIT third-quarter financial results

Commercial  • 

Nexus REIT, (NXR-UN-X), Globe Newswire

REOC third-quarter financial results

Commercial  • 

Firm Capital American Realty Partners Corp., (FCA-U-X), Globe Newswire

Skyline Investments, (SKLN.TA), Globe Newswire

B.C.’s top CRE brokerages shrinking

Commercial  •  Business In Vancouver

According to data collected on Business in Vancouver’s Biggest Commercial Real Estate Brokerages in B.C. list, the number of agents at the 20 largest firms shrank by an average of 2.9% over the past year.

Boston developer plans Black Friday sale

Commercial  •  Bisnow  •  Ottawa Citizen  •  Canada Newswire

Boston-based Cummings Properties is deploying a key retail strategy in its real estate portfolio this holiday season. The developer is offering short-term Black Friday specials of discounted or even free rent at some of its suburban Boston office complexes.

Texas Teachers to co-invest $400M in Brookfield fund

Commercial  •  IPE Real Assets

Teacher Retirement System (TRS) of Texas has readied $400 million US of capital to co-invest alongside the latest infrastructure mega-funds of Brookfield Asset Management and Global Infrastructure Partners (GIP).

U.S. CRE industry preps for foreign investment changes

Commercial  •  CP Executive

The U.S. government’s modernization of the EB-5 (employment-based, fifth preference) Immigrant Investor Program goes into effect today, sparking a change for the CRE industry. The new regulations will raise the minimum required monetary commitment for foreign investors.

Rental inflation near a three-decade high

Residential  •  Globe and Mail

Canada’s rental costs are increasing at the fastest pace since 1991, a sign rising private-sector investment in apartment construction is not easing affordability concerns. Rent increased 3.7 per cent nationwide in October year-over-year, according to Statistics Canada figures released Wednesday.

Calgary bucks trend with steep condo-price declines

Residential  •  Globe and Mail (Sub. required)

New condo prices in the Calgary area continue to drop due to a glut of inventory that hit the market during the oil crash. Economic pressures are expected to help keep a lid on price growth for the foreseeable future.

Hamilton Canada’s most overpriced market: IMF

Residential  •  Globe and Mail (Sub. required)

A recent report by the International Monetary Fund – Assessing House Prices in Canada: Borrowing Capacity and Investment Approach – puts the Hamilton market into an exclusive club with Toronto and Vancouver: all three cities are significantly overpriced compared to normal markets.

U.S. housing permits highest in over 12 years

Residential  •  Reuters  •  PR Newswire  •  PR Newswire

U.S. homebuilding rebounded in October and permits for future home construction jumped to a more than 12-year high, pointing to strength in the housing market amid lower mortgage rates, according to a report from the Commerce Department on Tuesday.