Developer LSR GesDev has launched NOVIA, a $105-million mixed-use project in the new downtown area being developed in Longueuil, across the river from Montreal. It’s partnering with Fonds immobilier de solidarité FTQ and private investors on the 20-storey project.
Nexus REIT (NXR-UN-T) is pushing its recent industrial buying spree past the quarter-billion-dollar mark with two additional acquisitions announced Tuesday in London, Ont., and Edmonton. The two properties will add about 496,000 square feet of GLA to Nexus’ portfolio.
With approximately 32 per cent of downtown office space sitting vacant, Calgary city council has approved a revitalization plan for the core that involves an initial investment of $200 million. It’s believed $1 billion will be needed over the next decade.
Amazon is setting up another last-mile distribution centre in Winnipeg after announcing its first one in October. According to the City of Winnipeg’s listing of construction-related building permits, Amazon’s name is on a number of jobs related to the property.
With CBRE predicting Victoria will maintain its title as Canada’s strongest industrial real estate market for the foreseeable future, developers getting in on the game for the first time include Vancouver-based Beedie and PC Urban Properties, under its IntraUrban brand.
Private agribusiness Viterra Inc. said on Monday that it will build the world’s biggest canola-crushing plant at Regina and open it in late 2024, as interest in turning oilseeds into renewable fuel stokes already strong demand.
StorageVault Canada is leveraging its extensive business expertise to offer an end-to-end last mile business solution, with storage, logistics and inventory management services, helping move your goods from manufacturer to warehouse to customer and everywhere in between, through FlexSpace Logistics.
Whether due to deals or an employee culture in which it replaced its pandemic bonus with a permanent raise, Costco (COST-Q) has earned a loyal following. There are Costco blogs and Facebook groups where Costco superfans discuss deals and more.
Over the past decade or so, office and condominium towers have sprouted to the Gardiner Expressway’s north and south, creating a new, vitally urban neighbourhood, the South Core. Buildings now flank it for most of the central stretch.
Davpart has submitted a rezoning application to the City of Toronto seeking permission to build a 12-storey rental building at 2808 and 2810 Keele St., in the Downsview area of North York. The redevelopment proposal would bring nearly 300 apartments to the neighbourhood.
Porte is planning a six-storey condo building near East Broadway and Nanaimo in Vancouver. The development, designed by Integra Architecture Inc., will include 122 strata units – 35 studio, 42 one-bedroom, 33 two-bedroom and 12 three-bedroom – and ground-floor commercial space.
Shares in AltaGas Ltd. (ALA-T) are on the rise after it announced it has sold its U.S. transportation and storage business for $344 million to better focus on its core energy infrastructure operations and pay down debt.
Vacant office space in New York City is the highest since 1994 and will likely hit “unprecedented levels” in the coming months. Cushman & Wakefield data shows the office vacancy rate in Manhattan reached 16.3% in Q1 2021, up from 11.3% a year ago.
As the coronavirus pandemic moves into its second year, landlords have persisted in pursuing evictions across the United States, despite government measures meant to keep tenants in their homes.
A multi-year boom in global house prices which even a pandemic has failed to halt is forcing central banks around the world to confront a knotty question – what, if anything, should they be doing about it?
The recent surge in home prices is prompting concern that borrowers may be stretching themselves financially and, in some cases, stretching the truth when they apply for a mortgage, according to Dan Eisner, CEO of True North Mortgage Inc.
Toronto officials are now eyeing a citywide lottery system, which could allow tenants struggling to meet rent to see and apply for empty affordable units across Toronto as early as 2023.
A possible explanation is homes are being deliberately listed low to attract a larger cohort of buyers. Zolo‘s Mustafa Abbasi also noted that “a realtor today will often list a property below market value to encourage more bids.”