New name, new acquisition for Greyspring Apartments

RENX  Residential  •  Apartments  •  Ontario, Greater Montreal, Ottawa

The freshly rebranded Greyspring Apartments has closed on its first acquisition under its new name and structure, a 13-storey, 105-unit concrete building in Montreal.

Momentum grows to tackle racism, inclusion issues in CRE

RENX  Commercial  •  Human Resources  •  National

REALPAC and several partners are presenting a multi-series, KingSett Capital-sponsored program on racism and exclusion in the workplace that aims to help members of the Canadian commercial real estate industry understand, address and dismantle systemic racism.

Pur Immobilia converting Mtl. campus into rental building

Residential  •  La Presse

Deserted for 20 years, Montreal’s former Dawson College Selby Campus will be transformed into a rental apartment building by its new owners, led by the duo of Pur Immobilia and Batimo. The tandem recently acquired the Westmount property for $18.1 million.

NJS Capital proposes 11-storey rental apartment

Residential  •  Urban Toronto

NJS Capital has submitted a site plan approval application to the City of Toronto seeking permission for an 11-storey apartment development at 147 Vaughan Rd. If successful, it would bring 83 new rentals via mid-rise intensification to the city’s Humewood neighbourhood.

Hi-Lo Hybrid ultimate in high-density T.O. development

Residential, Commercial  •  blogTO

When completed, Toronto-based PHAEDRUS Studio‘s Hi-Lo Hybrid will serve as a five-storey development with several residential homes, a live-work unit and a retail space — all located on the narrow lot and laneway of just one typical single-family home.

Lofty plans for Toronto church development

Commercial  •  Globe and Mail

Weston Park Baptist Church is placing its faith in development plans that aim to revitalize its property in the Toronto neighbourhood. The church is working with Maple, Ont.-based Castlepoint Investments to build a new church while retaining the existing sanctuary.

Sponsored by Yardi Tech will drive success for multi-res and CRE in 2021

It has been a monumental year for the residential and commercial real estate markets in Canada, and everywhere else for that matter. Among the key challenges on the horizon as 2021 dawns are sustaining best practices.

Edmonton’s Blatchford community takes flight

Residential  •  Edmonton Journal  •  RENX

Nestled on the site of Edmonton’s former City Centre Airport, the 536-acre Blatchford development is starting to take shape. The first residents have begun moving into homes and 52 lots developed by the City of Edmonton have been sold to builders.

Dawn of a new era for development in Canada

Residential, Commercial  •  REMI Network

Although construction activity slowed considerably in 2020, forecasts suggest we’re at the dawn of a new era for development in Canada, as new opportunities, emerging technologies, and several planned mega projects gain momentum in the wake of a successful vaccine rollout.

Toronto naming companies with COVID-19 outbreaks

Commercial  •  Globe and Mail  •  Toronto Star

Toronto has started to name publicly some workplaces experiencing COVID-19 outbreaks, identifying a beauty company, a food producer and a computer hardware manufacturer. Toronto’s new approach, announced on Monday, comes after months of reluctance to single out companies.

Lafarge’s ECOPact concrete cuts carbon emissions

Residential, Commercial  •  Sustainable Biz Canada

With a pandemic raging for the better part of 2020, a beleaguered country is desperately in need of some degree of normalcy. A by-product of this pressing need is a yearning for reassurance in the form of safety and security.

‘For lease’ signs abound in downtown Winnipeg

Commercial  •  Winnipeg Free Press  •  CBC

OPINION: In Winnipeg, a Probe Research poll recently showed only 18 per cent of downtown workers are currently in the office. Winnipeg’s downtown has fewer retail shops than other major Canadian cities, but the number of “for lease” signs is jarring.

Moody’s acquires Catylist, advances CRE capabilities

Commercial  •  Business Wire

Moody’s Corp. (MCO-N) announced it has acquired Catylist, Inc., a provider of CRE solutions for brokers. The acquisition advances Moody’s Analytics (MA) platform, enhancing its coverage of property-level data and expanding its range of analytical solutions to the broker market.

How Walmart plans to take over healthcare

Commercial  •  CNBC

VIDEO: Walmart, the world’s largest retailer, wants to be your doctor, too. In September, it launched Walmart Health, a primary care clinic, at a store in Dallas, Ga. The doctor-run clinic offers services like X-rays, annual checkups and dental exams.

Airbnb’s CEO Forbes’ Person Of The Year

Residential  •  Forbes  •  Forbes

CEO/co-founder Brian Chesky helped take Airbnb (ABNB-Q) public in December, and already its stock has doubled. The business took a huge hit during the pandemic but seems to be rounding a corner, and investors evidently believe in its staying power.

Trump’s European golf resorts post $90M loss

Commercial  •  Forbes  •  Newsweek  •  USA Today

Scotland’s Turnberry lost about $3 million on revenue of $26 million. A second Donald Trump business, near the Scottish city of Aberdeen, bled $1.5 million on $4.3 million in sales. In total, the Trump Organization declared losses of roughly $90 million at its European golf resorts.

Flight to the suburbs could continue post-COVID: Zoocasa

Residential  •  Financial Post

VIDEO: Zoocasa CEO Lauren Haw speaks with Financial Post’s Larysa Harapyn about how the pandemic’s effects on how we work has changed where we live, and what that means in 2021.

Van. home sales surge 53.4%, setting December record

Residential  •  CTV  •  Business In Vancouver

The Real Estate Board of Greater Vancouver says home sales were up 53.4 per cent year-over-year in December, setting a record for the month. 3,093 homes were sold in December, up from 2,016 in December 2019 and slightly more than the 3,064 sold in November

First-time homebuyers see new opportunities, challenges

Residential  •  Globe and Mail

With mortgage rates at historic lows and price growth tapering in certain markets, first-time homebuyers are seeing condo prices come within reach in downtown areas. However, young families are being priced out of suburban starter homes at a faster rate.

The stresses that changed real estate in 2020

Residential  •  Ottawa Citizen  •  CTV  •  Winnipeg Free Press

If you had to pick one word to describe the 2020 market for resale homes, it would be “stressed.” Shrinking inventories combined with a sharp rise in demand triggered bidding wars for a majority of properties.