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Ottawa’s Frontier a poster child for TOD
Ottawa’s Frontier a poster child for TOD
The first of five buildings planned for Ottawa’s transit-oriented Frontier apartment development is now being occupied, and it attracted the presidents of partners RioCan and Killam Apartment REITs. Jonathan Gitlin and Philip Fraser were on hand to see the progress.
MUHC eyeing Montreal office building for HQ
The McGill University Health Centre hopes to assume full ownership of the 5100 de Maisonneuve Blvd. W. seven-storey building from the Royal Victoria Hospital Foundation and move all its administrative staff to what would be its new Montreal headquarters.
Repurposing old buildings gives them new life
Natalie Voland’s GI Quo Vadis recently acquired two early 20th-century factories in Montreal, together comprising nearly 850,000 square feet of space. Voland turned those first properties into a portfolio of historic buildings, utilizing a skill set in growing demand nationwide.
‘Truly momentous’ time for Montreal CRE: Devencore CEO
Montreal’s real estate scene is more dynamic today than at any time during the past five decades says Jean Laurin, CEO of real estate brokerage and advisor Devencore. Laurin, with Devencore since 1973, made the claim in a blog post.
Sun Life launches new institutional investment arm
• Globe and Mail (Sub. required)
Sun Life Financial Tuesday announced the establishment of SLC Management. All of Sun Life Investment Management’s affiliates – Sun Life Institutional Investments, Ryan Labs Asset Management, Prime Advisors Inc. and Bentall Kennedy – will be provided to clients on a single platform.
Vancouver community gardens sit on $525M of real estate
New data shows how community gardens have proliferated through Vancouver in the intervening years, to the point where they now sit on land assessed at a combined total of $525 million.
Loblaw expands Flashfood program to reduce waste
Loblaw Companies (L-T) says it is expanding its relationship with innovative food sales application Flashfood in an effort that should further reduce store-generated food waste, while saving customers money on their grocery bills.
Vancouver parking stall listed for $50K
• Daily Hive • CTV
If you’re desperately looking for an affordable place in Vancouver — there is one property on the market for $50,000 but it comes without a kitchen, bedrooms, or a bathroom.The $50,000 Yaletown parking spot located is currently listed on Realtor.ca.
Sidewalk Labs submits smart city master plan
• Financial Post • Toronto Star • RENX
After more than a year and a half of planning, drafting and consultation, Sidewalk Toronto finally delivered its Master Innovation and Development Plan (MIDP) for a smart city project on Toronto’s waterfront.
Calgary planning: Mistakes and missed opportunities
• LiveWire Calgary: Part III • LiveWire Calgary: Part II • LiveWire Calgary: Part I
Calgary’s first failed attempt at urban renewal of downtown’s east-side took place in the ‘60s. It was the heyday of Brutalism architecture (think concrete) of which the YWCA and Bow Valley College are good examples.
South Okanagan cannabis production site sold for $20M
An incomplete cannabis production plant in Okanagan Falls has changed hands for $20 million. Sunniva (SNN-CN) is selling the 114-acre property to CannaPharmaRx (CPMD). Sunniva will receive a net closing profit of $15.5 million upon closing, expected to occur around July 5.
Costco coming to revamped Niagara Square shopping centre
Bayfield Realty Advisors (Bayfield) announced Costco is coming to the City of Niagara Falls. The new Costco store will be located on the site of the Niagara Square shopping centre, currently undergoing a major redevelopment.
HBC chairman’s bid unlikely to get full support: Activist
• Reuters • Winnipeg Free Press • Bloomberg
Activist investor Land & Buildings Investment Management LLC said Tuesday a $1.74-billion go-private offer for Hudson’s Bay Co. (HBC-T) from executive chairman Richard Baker and other shareholders would likely not receive majority approval of remaining shareholders.
U.S. REIT sector rallies toward fourth straight record
The U.S. REIT sector rallied again toward a record high in midday trading Monday, boosted by a rally in 10-year treasuries that pushed the yield down to a near-two-year low.
Allianz acquires 30 Hudson Yards office stake
The real estate arm of German insurer Allianz Group has invested $513 million Cdn for a 49% interest in the 30 Hudson Yards office complex in New York. Allianz Real Estate is part of a consortium alongside Related Companies and a third-party investor.
Montreal, Toronto both facing housing crises: Opinion
Over the decades, Canada’s big cities have faced many problems and prevailed. Now they are up against their toughest adversary yet — success. Toronto and Vancouver were first; today Montreal is also being priced out of contention.
Mortgage industry skeptical of first-time homebuyers program
• Globe and Mail • Financial Post • Toronto Star
Mortgage-industry officials say the government’s First-Time Home Buyer program is likely to fall far short of its goal of making real estate more affordable to many new buyers.
Vancouver RE policies ‘web that is impossible to weave’: Cressey
PODCAST: Cressey Development Group vice-president Jason Turcotte says a web of policies has impacted the Metro Vancouver real estate market significantly, and that some 6,000 units have been pulled back from development as a result.
Vancouver renters get increased, but uneven, protections
In the late ’60s and ’70s, the struggle of renters was as it is now, front and centre in Vancouver civic politics. An account of those times written by Bruce Yorke paints a Dickensian picture of tenants.
B.C. home prices won’t hit bottom until 2020: TD
• Globe and Mail (Sub. required)
Home prices in British Columbia aren’t expected to hit bottom until next year, Toronto-Dominion Bank chief economist Beata Caranci and a team of observers at the bank said in a much broader forecast for provincial economies.
Industry Events
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Western Canada Apartment Investment Conference
May 07 2024
Vancouver
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Edmonton Real Estate Forum
May 08 2024
Edmonton Convention Centre
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Land & Development Conference
May 28 2024
Metro Toronto Convention Centre
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Montreal Real Estate Forum
Jun 06 2024
Montreal
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Southwestern Ont. Real Estate Forum
Jun 13 2024
RBC Place London
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