Core Development hunts infill properties in GTA

RENX  Residential  •  Homes  •  Toronto / GTA

Corey Hawtin founded Core Development Group six years ago as a subsidiary of his Mazenga Building Group to exploit infill property opportunities that don’t fit the parent company’s model. Core’s focus is on properties in the GTA and Golden Horseshoe.

Calgary, Harvard discuss Eau Claire Market facelift

Residential, Commercial  •  Calgary Herald

The City of Calgary is in negotiations with Harvard Developments, a development company that purchased Eau Claire Market more than a decade ago with ambitious plans to redevelop the downtown site that have languished ever since.

GTA CRE leased space down 8.7% year-over-year

Commercial  •  Globe Newswire

Toronto Real Estate Board Commercial Network members reported 6,295,432 square feet of leased space in Q3 2019 for all lease transactions types across the industrial, commercial/retail and office market segments. This result represented an 8.7 per cent decline compared to Q3 2018.

Real Estate Wealth Insights › Canada’s apartment market: Fundamentals driving demand

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

Montreal CRE tax rate 4 times higher than residential

Residential, Commercial  •  Globe Newswire  •  Globe Newswire  •  Globe Newswire

In the City of Montreal, the commercial property tax rate was four times that of residential properties, finds a new study released today by the Fraser Institute: Who Bears the Burden of Property Taxes in Canada’s Largest Metropolitan Areas?

Montreal OKs $5.1M Great Western Park land purchase

Commercial  •  CBC  •  Montreal Gazette  •  Global News

Montreal’s executive committee has approved the purchase of 9.8 hectares of land in Sainte-Anne-de-Bellevue for the city’s planned Great Western Park. The land will be purchased in partnership with real-estate developer Grilli for $5.1 million.

The People Space › People Space: Marlin Spring’s new prez, Colliers hires in GTA

Don Wilcox: Managing Editor

Vancouver is back on top as investment market

Residential, Commercial  •  Business In Vancouver

Vancouver is back on top as Canada’s key investment market, according to the 2020 Emerging Trends in Real Estate report from PricewaterhouseCoopers and the Urban Land Institute. Toronto topped the charts last year.

Toronto law firm gives office a facelift

Commercial  •  Globe and Mail

Shara Roy jumped at the chance to refresh the décor of the Bay Street offices of her law firm, Lenczner Slaght LLP. She found the reception area – designed a quarter century ago – to be dark, dated and overtly masculine.

Office landlords adapt for millennial employees

Commercial  •  Western Investor

Landlords and tenants are learning that to attract millennial-generation workers, they need to upgrade their workplaces to add amenities. Workers between 24 and 39 years old tend to have different preferences than previous generations had, say landlords and business owners.

WeWork committee to decide on financing lifeline

Commercial  •  Reuters  •  CityLab

WeWork owner, The We Company, has formed a special board committee to consider proposals for a $5-billion financing lifeline from its largest shareholder SoftBank Group Corp and its main lender JPMorgan Chase & Co (JPM-N), four sources said Wednesday.

Toronto to keep ownership of subway in transit deal

Commercial  •  Globe and Mail  •  CBC  •  Globe and Mail (Sub. required)

Toronto will keep ownership of its existing subway network and will not have to fund the four major transit expansion projects on the table, under a tentative deal struck with Queen’s Park, in return for council endorsing Ontario’s transit priorities.

Larco appealing committee’s Château Laurier rejection

Commercial  •  CBC  •  Ottawa Citizen  •  RENX

Larco is appealing the rejection of its Fairmont Château Laurier expansion. Ottawa’s committee of adjustment turned down part of the downtown hotel’s expansion, saying it came too close to Major’s Hill Park and was not in line with heritage rules.

Which Vancouver areas face the most earthquake damage?

Residential, Commercial  •  CBC  •  Victoria Times Colonist

A map released by the City of Vancouver highlights areas that would see the most severe damage during a significant earthquake. The map was produced as part of the city’s ongoing investments to assess earthquake risk and upgrade infrastructure.

GTA condo sales up 11.1% year-over-year

Residential  •  Globe Newswire

Greater Toronto Area realtors reported 6,407 condominium apartment sales through TREB’s MLS System in the third quarter of 2019. This result was up by 11.1 per cent compared to Q3 2018. New condominium apartment listings entered were down one per cent year-over-year.

Kanata has Canada’s most expensive two-BR apartments

Residential  •  Ottawa Citizen  •  CTV

Rapidly growing Kanata has the most expensive two-bedroom apartments in Canada, according to a monthly study by an industry group. Average rent for a two-bedroom unit in the western suburb was $2,998, according to Rentals.ca.

Equiton acquires 29-unit Guelph apartment building

Residential  •  Equiton media release

The Equiton Residential Income Fund completed the purchase of a 29-unit apartment building in Guelph.  The property is a centrally located residential complex within walking distance to Stone Road Mall and the adjacent commercial and services corridor.

Apartment building proposed for Ottawa pub site

Residential  •  Ottawa Business Journal

A Toronto developer has unveiled plans for a nine-storey mixed-use apartment building at what was the site of a popular Centretown watering hole. Urban Capital has filed a development application for a 128-unit apartment complex at 390 and 394 Bank St.

Airbnb settles Quebec class-action over transparency

Residential  •  Toronto Star

Airbnb users in Quebec have reached a settlement with the company over pricing transparency that has changed the way it displays prices across Canada. Customers represented by LPC Avocat Inc. launched a class-action case in 2017.

No date set for Toronto Airbnb decision

Residential  •  Toronto Star  •  Winnipeg Free Press

A provincial planning tribunal hearing an appeal of the Toronto’s short-term rental rules has wrapped nine days of hearings. However, there is no deadline by which Local Planning Appeal Tribunal (LPAT) adjudicator Scott Tousaw must deliver his written decision.