BentallGreenOak has enhanced its position in Montreal through the acquisition of Appartements-Boutique on behalf of Sun Life Assurance Company of Canada. The purpose-built rental apartments at 681-733 William St. include 243 residential units across two buildings, plus lower-level retail and commercial space.
The Permanent is going through a major overhaul to reposition it in Toronto’s booming office market, and other aging towers are expected to follow. An expert panel in Toronto discussed the challenges and opportunities in converting class-B buildings to class-A.
Vancouver City Council on Wednesday voted unanimously to expropriate two derelict buildings on the Downtown Eastside for $1 each, heeding a city staff report that concluded it would cost millions to renovate the properties.
As Montreal real estate prices skyrocketi, the value of the Bell Centre has shrunk by more than $100 million in six years. Montreal values the home of the Canadiens at $167.1 million, a 13 per cent decline from the previous assessment.
The Squamish Nation council has formed a non-profit housing society with a mandate to build below-market rental units on undeveloped reserve lands for members currently caught in Greater Vancouver’s housing affordability crisis.
There are currently nine redevelopment proposals for Scarborough’s rundown Golden Mile, including the Eglinton Square and Golden Mile shopping centres, representing more than 22,000 rental and condo units. Ultimately, the city envisions 24,000 housing units.
Right-of-way clearing and access road construction has started for a $777-million, 450-kilometre transmission line along the Lake Superior shoreline from Thunder Bay to Wawa in Northwestern Ontario. The infrastructure venture is deemed vital to growth in the region.
Two new kindergarten to Grade 9 schools promised for Edmonton will be built under a public-private partnership model. Alberta’s Infrastructure Minister Prasad Panda said the P3 approach appears to be a suitable business case for at least five schools.
Executives with one of Ontario’s largest builders of public-sector projects participated in a scheme in which the company paid $80 million in suspicious invoices to suppliers who channeled some of the money back to company insiders, auditors allege.
Cricket Property Management (Cricket) is further expanding its reach across Canada with the addition of a new franchise location in Saskatoon. Cricket has plans to open additional franchise offices in Saskatchewan as part of the company’s national growth strategy.
IKEA Canada plans to open its first smaller, downtown store format in the country in Toronto within the next two years. The focus on the new formats comes as urban consumers demand spaces closer to them.
Indigo Books & Music Inc. (IDG-T) reported a net loss of $20.5 million for its most recent quarter as revenue declined year-over-year. The book retailer says its loss of 74 cents per common share compared to a net loss of $19.1 million year-over-year.
OPINION: Almost four years after Lowe’s Cos. (LOW-N) swallowed Quebec-based Rona Inc., the dust has yet to settle on the $3.2-billion deal that rocked the province’s hardware retailing sector and led to calls for new measures to block foreign takeovers.
Walgreens Boots Alliance Inc. (WBA-Q) has been exploring whether to go private following private equity interest in the U.S. drug store chain, which has a market value of more than $55 billion, according to sources.
REIT third-quarter financial results
REOC third-quarter financial results
Tighter mortgage regulations are making Canada’s housing market less risky, according to the Canadian Mortgage and Housing Corp. Default rates remain low and growth in the residential-mortgage market has slowed, likely due to the stress tests, the CMHC said.
The City of Ottawa wants to restrict Airbnb and other short-term property rentals to primary residences, a constraint that’s already been imposed — and swiftly challenged — in Toronto.
After a soft start to the year, sales of uber-luxury properties are on the upswing in the GTA, surpassing 2018 trough levels. Year-to-date sales of freehold and condominium properties priced in excess of $5 million topped 100 units between January and Oct. 31.
An innovative infill community in West Calgary and an upscale townhome development in University District were winners at this year’s Mayor’s Urban Design Awards. The biennial honours recognize the standout work of designers, architects and artists in Calgary.