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Recent Articles

Minto’s Toronto developments hit high gear

4 years ago

RENX   •   • 

Minto Communities (MI-UN-T) will launch sales for two downtown Toronto condominiums this month as it focuses significant resources on a major development pipeline in the city. Minto has about 20 active low-, mid- and high-rise residential projects across the GTA.

RENX   •   • 

While renovations and additions have attracted new retailers and boosted sales at Toronto’s Yorkdale Shopping Centre, they’ve also helped it win the TOBY Award for outstanding retail building at the recent National Building Owners and Managers Association Awards.

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In a keynote address at an Urban Development Institute event on Tuesday, TransLink CEO Kevin Desmond invited developers to work with TransLink to make the Metro Vancouver communities they build livable, walkable and transit-accessible.

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A concept to ensure affordable housing along the new SkyTrain rapid transit extension in suburban Surrey has faced spiralling residential land prices along the route. A 1950s-era bungalow on a quarter-acre lot close to a planned station sold for $1.6 million.

CMLS Commercial Mortgage Commentary Q2 2019

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ClubLink, the owner of the Kanata Golf and Country Club, unveiled its contentious plan to redevelop the 71-hectare plot of land, but nearby residents vowed Tuesday to “vigorously” fight the proposal to build up to 1,500 housing units on the site.

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For Danielle Lenarcic Biss, who grew up near Cloverdale Mall in Etobicoke, the enclosed maze of shops surrounded by acres of asphalt was a great place to stop for errands, but it wasn’t a destination – a place to spend time.

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The man responsible for innovation and sustainability credits access to data as the key reason Triovest improved its overall score in the 2019 GRESB Real Estate Assessment. Triovest scored 91 out of 100, among the best in Canada and its global peer group.

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Dorval unveiled its ambitious plans to revitalize the commercial sector in the Dorval Village. “I want it to become like Quartier des Spectacles downtown,” Dorval Mayor Edgar Rouleau said. He said Dorval Village will hopefully become a niche destination.

Centurion REIT

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Turmoil at WeWork, the giant office co-working company, has yet to impact Vancouver’s office market, but future leases here between landlords and the New York-based company could eventually be affected, local commercial property insiders say.

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The owners of West Vancouver’s iconic Villa Maris – more popularly known as the Pink Palace – are looking to replace it and the Shoreland apartments with a 21-storey, 206-unit all-rental building, as well as a separate six-storey 24-unit below-market rental building.

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A long-approved but largely dormant West Vancouver development plan is back before council, albeit with some major tweaks. Under the latest version, the number of strata units would increase from 493 to 699, and two new rental towers would add 250 additional units.

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Toronto-based WPT Industrial REIT (WIR-U-T) announced it has acquired five distribution properties for a total of US$142.3 million. Two of the properties are in Milwaukee, while the others are in Atlanta, Memphis and Nashville.

Landmark

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Two decades after opening the first Starbucks in Calgary, the coffeehouse chain is shuttering its flagship shop. The cafe in Kensington, the first to open in Calgary in 1996, isn’t the only coffee shop the Seattle-based company is shuttering in Calgary.

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Leroy Fuller, who founded Earls in the 1980s and was the patriarch of a family that runs some of Vancouver’s most successful restaurant chains, has died at the age of 90. Fuller passed away peacefully at his home on the weekend.

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Brookfield Property Partners (BPY-UN-T) has secured an anchor tenant for Two Manhattan West, its 1.9-million-square-foot office tower under construction in New York City. National law firm Cravath, Swaine & Moore inked a deal to take 481,000 square feet at the 58-storey property.

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For the first time since the height of the Great Recession in 2009, tenants in Q3 cut back on office and lab space in Boston, Cambridge and the suburbs, said Aaron Jodka, who leads the research at Colliers International’s Boston office.

BOMA

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Can the Toronto housing affordability crisis get any worse? Yes. Can it get any better? Yes. With the election hovering, most housing experts say measures in the works are helping and will improve the affordable housing crisis in Toronto.

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A flurry of new multi-unit builds in Ottawa fuelled a spike in September housing starts, according to data from the Canada Mortgage and Housing Corporation. Homebuilders started 1,289 new units in Ottawa last month, up 113 per cent year-over-year.

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Nearly a year on from legalization, a survey asks property owners and renters how they feel about cannabis use and growth in units. Property mangers are increasingly concerned about cannabis use on a rental property, according to the Zoocasa poll.

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Anti-immigrant political rhetoric, high-profile incidences of gun violence and impending changes to the “investor visa” program have encouraged Hong Kong’s would-be emigres to consider alternatives to the U.S. such as Australia, Canada, Singapore and Taiwan.

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