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Woodbine's 684 acres to host Toronto's largest development

4 days ago

Woodbine's 684 acres to host Toronto's largest development

A new urban centre that will be built around Woodbine Racetrack over, at least, the next 25 years will be the largest development site in Toronto, says Chris Caverson, executive vice-president, development at Woodbine Entertainment.

GWLRA unveils 3-tower plan for Toronto College Park redev.

GWL Realty Advisors has unveiled a “once-in-a-generation revitalization” of one of Toronto’s most iconic downtown properties. It plans three residential towers up to 96 storeys, and a historic restoration at College Park at Yonge and College streets.

Blackstone, U.S. equity funds in talks to buy H&R assets

U.S. private equity funds and one of Canada’s largest pension plans are in talks to acquire H&R Real Estate Investment Trust (HR-UN-T) as an activist investor pushes the company to disclose bidders for its $10.5-billion property portfolio.

CMHC update: Holdbacks eliminated for MLI standard

GUEST ARTICLE: Rental achievement holdbacks will no longer be a requirement for multi-unit loan applications under the MLI market / standard rental product. However, rate increases could add significant costs to developers financing projects under some CMHC products.

Hudson’s Bay lenders file motion to terminate Liu lease deal

Some of Hudson’s Bay Co.’s senior lenders are asking the court to terminate a contentious deal to sell store leases to B.C. billionaire Weihong (Ruby) Liu, arguing landlord opposition means the deal is unlikely to succeed.

AIMCo severance costs jump 383% after executive purge

Alberta Investment Management Corp. (AIMCo) paid nearly $6 million in severance and other benefits to a departing chief investment officer who was in the job for about 20 months. 

Calgary to see 2nd-strongest growth among Canadian cities

Calgary is forecast to have one of the brightest economic outlooks among Canadian cities this year, while ambitious $1.4-billion hotel and residential developments were recently unveiled in the evolving Culture and Entertainment District.

InterRent REIT announces end of 'go-shop' period

InterRent REIT (IIP-UN-T) announced the 40-day go-shop period outlined in the arrangement agreement between the REIT and Carriage Hill Properties Acquisition Corp. has ended. The REIT is to be sold in an all-cash transaction valued at $4B. 

IPEX opens new distribution centre in Ontario

IPEX, a company that supplies thermoplastics materials, products and accessories, recently celebrated opening its 150,000-square-foot distribution centre in Woodstock, Ont., representing an over-$27-million investment in the company’s supply chain network.

P.E.I. industrial park aims to meet Passive House standards

Summerside Eco-Park in Summerside, P.E.I., is working toward becoming Canada’s first business park offering an industrial and manufacturing facility that passes the strict, sustainable standards of Passive House design.

Van Houtte expands with new office and distribution centre

Van Houtte Coffee Services, a division of Keurig Dr Pepper Canada, has opened a $1.5-million, 26,000-sq.-ft. office and distribution centre in Alberta. Located in West Edmonton’s industrial park, the space will support the company’s regional operation.

Colour-coding system for apartment buildings proposed

A renewed call to enact a DineSafe-like colour-coded sign system for Toronto apartment buildings plagued by issues like bed bugs or neglected repairs is being brought to city council later this month.

GTA strip mall may be demolished for 13-tower complex

Another Toronto retail complex could bite the dust thanks to a proposal to bring over a dozen towers to Etobicoke. Figtree Holdings has submitted plans to build a new neighbourhood on the southeast corner of Kipling Avenue and The Queensway.

Downtown Hamilton church eyed for residential towers

City politicians have decided not to place a downtown Hamilton church eyed for demolition under heritage protection, at the urging of the congregation concerned its real estate deal with developers Empire Communities and Hamilton Coliseum Place is unravelling.

Proposed London towers face looming water fight

A three-tower, 402-unit residential development pitched for London by Copia Developments will face stiff opposition from a city politician. The site needs more than 400,000 litres of water removed daily to construct the towers, according to a hydrogeological study.

Ritz-Carlton Residences: Luxury island living in Muskoka

For cottage consumers looking to own a luxury vacation property without the work that entails, developer Density Group Ltd., has begun selling lots at Ritz-Carlton Residences, on an exclusive island in Ontario's Muskoka region north of Toronto.

Youth sports drives billion-dollar building boom

Pro sports mean big money for commercial real estate, especially as increasingly elaborate mixed-use districts are established around stadiums. But with billions of dollars flooding into new projects centred around youth sports, it's not just the pros driving development opportunities.

Atlanta’s industrial market shows strong pricing, pipeline doubles

Atlanta’s industrial market maintained momentum through April, marked by robust pricing, heightened construction activity and a below-national-average vacancy rate. The sales volume neared US$204M, with the metro recording one of the highest per-square-foot averages in the U.S.

The London office market is back, baby

Office supply has been hindered in most countries, but the U.K.’s falloff goes back further, as a series of unfortunate events meant a boom in real estate values was not accompanied by a wave of office building. 

New World is selling China property assets after loan deal

New World Development Co. is seeking to divest real estate projects in mainland China after an US$11-billion refinancing deal in June, according to people familiar with the matter.

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