Booming office building construction cycles in Toronto and Vancouver will force landlords of older buildings to make some tough decisions, according to CoStar Group Canada. Roelof van Dijk of CoStar says Canada’s office market faces significant changes.
Greatwise Developments is proposing to transform the existing rental housing complex located at 325 Bogert Avenue into a new multi-tower high-rise development. The original proposal has been revised from six to four towers and has removed most of its townhouse units.
General Motors Canada says it will invest $170 million in its Oshawa plant to transition the facility from manufacturing vehicles to stamping, sub-assembly and autonomous vehicle testing. GM Canada president Travis Hester says the move will save 300 jobs at the plant.
BlueSky Properties, a Bosa family company, recently opened a nine-storey office building at 988 West Broadway in Vancouver. The class-AAA, 102,000-square-foot development is the first office building in Canada fully equipped with View Dynamic Glass technology.
Vancouver needs new forms of hotels to house visitors after more than a decade of declines in the number of traditional hotel rooms in the city, according to industry insiders.
Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate
Publication of the final report of the committee charged with recommending ways to revitalize the Agricultural Land Reserve (ALR) and the commission that oversees it – five months after the province received it – has shed light on B.C.’s land-management thinking.
Eastern Ontario homeowners, small businesses and other organizations affected by the recent widespread flooding will be eligible for up to $250,000 in disaster relief assistance. The funds will be paid out under the Disaster Recovery Assistance for Ontarians program.
CAPREIT‘s (CAR-UN-T) unit price has declined over seven per cent during the past six weeks. As a result, the REIT is just one per cent away from appearing on the negative breakouts list (stocks with negative price momentum).
REIT first-quarter financial results
REOC first-quarter financial results
A Singapore-based port operator has announced a deal to buy the largest container terminal in Eastern Canada. PSA International says it has finalized an agreement to acquire the Halterm terminal at the Port of Halifax from Australia’s Macquarie Infrastructure Partners.
The Coca-Cola Co. has an agreement to sell its 354,000-square-foot Fifth Avenue office and retail building in Manhattan to Nightingale Properties for $907M. The company has owned the asset for more than 35 years, acquiring it in 1983 for $57.6M.
Canadian housing starts surged nearly 23 per cent in April compared with the previous month as groundbreaking increased on multiple unit and single detached urban homes, Canadian Mortgage and Housing Corporation (CMHC) data shows.
Canada’s big banks are eagerly watching the country’s real estate markets for evidence of a rebound this spring, but the mixed signals the sector has delivered so far are unlikely to move the needle for lenders, industry watchers say.
In most of Canada, if you came across a community where almost 20 per cent of properties were listed on Airbnb — and nearly two-thirds were hosted by someone with multiple listings — there would likely be huge political upheaval. Not in Whistler.
In Vancouver, the most expensive rental housing market in Canada and one of the least affordable for homebuyers on the planet, about one-third of the homes have just one resident. So what’s the solution? Buddy up. Find a lover. Make amends with your family.
260 High Park Church Lofts and Residences, by Medallion Capital Group, will convert Toronto’s 1908 heritage-designated Alhambra Church into the Sanctuary Lofts, and incorporate a new four-storey condo building: the Condo Residences.
When it comes to buying a home in Toronto, young modern families prioritize safety, work and family, according to Sotheby’s International Realty Canada and Mustel Group‘s Modern Family Home Ownership Trends Report: Neighbourhoods “in Transit.”