Montoni JV begins Montreal Espace Montmorency

RENX  Residential, Commercial  •  Hotels and Resorts, Seniors Housing, Office, Apartments, Retail  •  Greater Montreal

Four years after it was announced, construction has begun on Groupe Montoni’s $450-million-plus Espace Montmorency project, the largest ever mixed-used development in Laval. Slated for completion in 2022, the project includes 1.3 million square feet of leasable space in four towers.

Montreal exercises right of first refusal on Peel Basin

Residential, Commercial  •  La Presse

The administration of Mayor Valérie Plante has exercised her right of first refusal on four new buildings in the Bridge-Bonaventure sector to ensure “the mixed development of the site.”

Canopy Growth considers REIT

Commercial  •  Bloomberg

Canopy Growth Corp. (WEED-T) is assessing ways to raise non-equity financing as the world’s largest cannabis company seeks to expand and become profitable, according to its new chief financial officer.

QuadReal breaks ground on spec CentrePort project

Commercial  •  Western Investor  •  RENX

Winnipeg’s industrial sector is about to get a speculative 175,000-square-foot shot in the arm. Vancouver’s Quadreal Property Group has broken ground on a multi-million-dollar development in CentrePort Canada‘s Northwest Business Park without having signed up a single tenant.

OPG moving headquarters to Clarington, Ont.

Commercial  •  Clarington This Week  •  Canada Newswire  •  Toronto Sun

Ontario Power Generation (OPG) is establishing a new corporate headquarters on a campus setting in the Municipality of Clarington. The new campus will include a new building to be constructed on adjacent land presently owned by OPG.

The Saskatchewan Edge › Could a long-term national lease devalue your CRE?

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Manitoba would control Winnipeg land use under new rules

Residential, Commercial  •  Winnipeg Free Press

The Manitoba government has released a list of recommendations aimed at overhauling planning, zoning and permitting in the province that — if implemented in its entirety — could undermine Winnipeg’s ability to make land-use decisions within city limits.

AI-enhanced bins promote recycling at Vancouver airport

Commercial  •  Sustainable Biz Canada

They call him ‘Oscar’ and, with a little help from artificial intelligence, he’s prompting travellers to sort and recycle their trash at Vancouver International Airport. Early indications are that he is doing a good job.

Is Indigo another candidate to go private?

Commercial  •  Globe and Mail

At the end of May, Indigo Books & Music Inc. (IDG-T) announced a loss of almost $37 million for the year ended March of 2019, and the stock promptly tanked 20 per cent on heavy volume.

‘Blockbuster’ fundraising month for non-traded REITs

Commercial  •  National Real Estate Investor

Non-listed U.S. REITs posted a “blockbuster” month of fundraising in April with nearly $1 billion flowing into the sector, according to the latest data from Robert A. Stanger & Company.

BIA questions Vancouver’s ownership of parking lot

Commercial  •  Vancouver Courier

The City of Vancouver’s ownership of a Hastings-Sunrise parking lot valued at $17.7 million is being called into question by the Hastings North Business Improvement Association, which maintains neighbourhood businesses and property owners may have rights to it.

Vancouver dev. permits surged before fee increase

Residential  •  Globe and Mail

The regional fees for development had been already penciled in at $250,000 for one of Domus Homes’ major Metro Vancouver projects, a 200-plus-unit tower. Then, it became obvious the bill would go up to $750,000 after May 1.

CMHC CEO defends mortgage stress tests

Residential  •  Globe and Mail (Sub. required)

Canada would need a “calamity” in the housing market to warrant adjusting the mortgage stress test, which is helping affordability, according to Evan Siddall, chief executive officer of Canada Mortgage and Housing Corp.

FSRA to oversee Ontario insurance, mortgage institutions

Residential  •  Global News  •  Globe and Mail (Sub. required)

A new independent financial regulator is up and running in Ontario to oversee insurance, mortgage and deposit-taking institutions. The Financial Services Regulatory Authority of Ontario (FSRA) replaces the Financial Services Commission of Ontario and the Deposit Insurance Corp. of Ontario.

Ultrathin rental building could be coming to Toronto

Residential  •  Toronto Star

Toronto’s Entertainment District might be getting an ultrathin addition. The city has received an application from Tawse Realco Inc to build a narrow 10-storey residential rental building on a lot  roughly 6.5 metres wide and just under 43 metres long.

Nine-storey apartment without parking proposed for Ottawa

Residential  •  Ottawa Business Journal

Toronto-based 250 Besserer Limited Partnership is proposing to build a nine-storey apartment building in Ottawa’s Sandy Hill. The existing office building and garage would be demolished to make way for the new project.

Vancouver approves more compensation for ‘renovictions’

Residential  •  CBC  •  Global News  •  CTV

As Vancouverites continue to struggle with housing affordability, city council has approved several measures to ease the shock for renters when they’re forced out of their homes due to renovations. The changes are called the Tenant Relocation and Protection Policy.

B.C. owner requirements a huge boon for lawyers

Residential  •  Canadian Lawyer Magazine  •  Vancouver Sun  •  CBC

Complying with British Columbia’s new real estate owner reporting requirements will create a lot of legal work and raise the price of real estate transactions, lawyers say.

Montréal finally files social housing bylaw

Residential  •  La Presse  •  Canada Newswire  •  RENX

The City of Montreal finally presented this morning its long-awaited regulation on the inclusion of social housing, nicknamed “20-20-20.” At first fearful, real estate developers have welcomed changes made which will limit the impact on the cost of new housing.

U.S. home-flipping rate hits a nine-year high

Residential  •  USA Today  •  MarketWatch

The U.S. rate of flipping hit a nine-year high with over 49,000 single-family homes and condos selling in the category in the first quarter. However, experts warn that’s not necessarily an indicator of the housing market’s overall strength.