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Bank of Canada cuts overnight interest rate to 4.5%
Bank of Canada cuts overnight interest rate to 4.5%
UPDATED WITH QUOTES, REACTION: The Bank of Canada has cut its benchmark interest rate a further 25 basis points to 4.5 per cent, a move widely welcomed in the development and construction industries and by potential homebuyers.
Canada's student housing market in 'early stages': Bonard
Canada’s student housing market is fragmented, underdeveloped and offers significant opportunities for development and investment in private, off-campus housing, Bonard's Martin Varga says.
CDPQ sells $700M Couche-Tard shares back to the company
The Caisse de dépôt et placement du Québec (CDPQ) is selling a $700M stake in Alimentation Couche-Tard back to the Canadian convenience store giant through a private share buyback agreement, recouping cash Caisse plans to reinvest in the province.
Office attendance patterns remain quirky
The journey is as important as the destination, Colliers Canada’s recent quarterly poll of office tenants’ preferences found. Parking ranked as the most important amenity for office space, while decision-makers were more likely to renew leases near good transit service.
Cedar Coast plans for 1,900 units at Langley Mall site
Another shopping mall in Metro Vancouver is set for redevelopment, with the latest being the Langley Mall. Cedar Coast acquired the Langley Mall at 5501 204 Street from First Capital REIT over two years ago.
Toronto’s 105-storey condo tower taking shape
Work is proceeding quickly on Toronto’s SkyTower condo project, which will break all records for height in Canada when it is completed in two years’ time. The project at Pinnacle One Yonge from Vancouver-based Pinnacle International will be 105 storeys.
Billionaire developer putting B.C. hydrogen projects on hold
COLUMN - Premier David Eby was quick with an endorsement last year when Australian billionaire Andrew Forrest proposed a $2-billion green hydrogen plant for a site near Prince George. Now the project is on hold over electricity concerns.
Keurig Dr Pepper Canada opens Calgary distribution centre
The Calgary region has become the new home to another major distribution centre in Western Canada, helping to create 50 permanent jobs. Keurig Dr Pepper Canada announced Monday it has leased a 100,000-square-foot space in a new Balzac warehouse.
OREA CEO Tim Hudak resigns
On Tuesday, in an email to members of the Ontario Real Estate Association, chief executive officer Tim Hudak confirmed he is leaving the association. His last day will be August 2.
Sales of GTA new homes were at a record low, now 50% lower
Developers in the GTA experienced another slow month for new home sales in June, bringing year-to-date sales to less than half of the record-low seen in 2023, the Building Industry and Land Development Association (BILD) announced Wednesday.
Moving populations are 'rapidly reshaping' luxury real estate
Immigration and interprovincial migration are having a profound impact on luxury housing, according to Sotheby’s International Realty Canada's mid-year luxury real estate report, which found the Calgary market to be booming while Toronto, Montreal and Vancouver stalled.
Fears of a double-digit price drop in Ontario cottage market
Ontario’s cottage real estate market has remained “very quiet” following the Bank of Canada’s June rate cut, and unless there’s a deeper drop in interest rates, prices could be headed downward, says an expert.
$97M to build, fix Hamilton, Halton and Niagara housing
Local affordable housing providers are applauding the federal government's announcement of $97 million to help build 270 affordable housing units and repair 8,399 units in Hamilton, Halton Region and Niagara Region.
Gardiner Expressway work will run 24/7 to speed up timeline
Ontario says it is providing up to $73 million to Toronto to ensure construction crews rehabilitating the aging Gardiner Expressway can work 24/7, moving up the expected completion time for the project by one year.
BC Hydro to construct $1B in capital projects in Surrey
BC Hydro announced it will construct approximately $1 billion in capital projects in the City of Surrey over the next decade to upgrade and expand the electricity grid and provide clean power for homes, businesses and growing electrification and transportation needs.
Channel Tunnel builder selected for B.C. tunnel project
The British Columbia government has selected the contractor to design and build the new replacement and expanded George Massey Tunnel. In a release, the province announced the selection of a consortium called Cross Fraser Partnership.
Chicago Bulls, Blackhawks owners make $7B real estate bet
The families behind two of Chicago’s most storied sports teams are joining forces for a $7 billion US real estate development around the United Center, the arena that will host next month’s Democratic National Convention.
Blackstone Mortgage REIT cuts dividend on property stress
Blackstone Mortgage Trust, which provides financing for commercial real estate, is cutting its dividend by 24 per cent as defaults increase and borrowers struggle to make payments or refinance their loans.
KBRA assigns preliminary ratings to Tricon Residential certificates
KBRA assigned preliminary ratings to four classes of Tricon Residential 2024-SFR3 single-family rental pass-through certificates. The single-borrower, single-family rental securitization will be collateralized by a $550.5M US loan secured by first priority mortgages on 2,223 income-producing homes.
Trillion-dollar AI push spurs a booming CRE sector, is it a bubble?
Big Tech’s push to build the infrastructure for generative artificial intelligence has come with an unprecedented trillion-dollar price tag and has made data centres one of the hottest real estate sectors.
Industry Events
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RealREIT
Sep 10 2024
Toronto
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Canadian Apartment Investment Conference
Sep 11 2024
Toronto
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BOMEX - BOMA Canada's National Building Summit
Sep 23 2024
to Sep 25 2024
Vancouver, B.C.
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Winnipeg Real Estate Forum
Sep 24 2024
Winnipeg
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2024 CREW Network Convention
Sep 25 2024
to Sep 27 2024
Vancouver Convention Centre
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Ottawa Real Estate Forum
Oct 02 2024
Ottawa Conference & Event Centre
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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