Government regulations are slowing the supply of much-needed new purpose-built rental apartments, and tighter rent controls could exacerbate the problem, according to a panel of senior executives which closed the Sept. 4 Canadian Apartment Investment Conference in Toronto.
Ottawa-based Minto Group is taking a unique and innovative approach to one of its Calgary properties to meet a growing demand. Minto Apartments (MI-UN-T) converted the aging International Hotel into premium long- and short-term rental apartments called The International.
IWG, the largest operator of serviced offices globally, is exploring a sale of its Canadian business, a source says. A sale would include IWG’s Canadian operations, including its Regus and Spaces brands, as well as rights to open new locations.
Anbang Insurance Group Co. has agreed to sell a luxury hotel portfolio for a little more than $5.8 billion to South Korea’s Mirae Asset Management Co. The portfolio includes the InterContinental Chicago Magnificent Mile and the Fairmont Chicago.
Sleek light-rail trains carve their way along an urban spine from the north end of Waterloo to the south end of Kitchener, a 22-stop route that includes two shopping malls, two universities, two city halls and a future transit hub.
Record prices in the Toronto-area condo market don’t appear to be fazing investors. Robin Pope of Pope Real Estate Ltd. saw a diminutive studio apartment arrive on the market recently and immediately thought of his client working in New York.
Lamb Development Corp. has begun offering deposits back to presale buyers in a downtown Toronto condominium apartment project. A spokesperson for Lamb Development, owned by and named for condo impresario John Bradley Lamb, declined to comment.
Investors’ appetite to buy rental apartments in the Vancouver region appears to be bouncing back after a first half that saw many buyers waiting on the sidelines amid uncertainty in the market, said Lance Coulson, an executive vice-president with CBRE.
Twenty years ago, the East Liberty neighbourhood in Pittsburgh was struggling: businesses had closed, houses were boarded up and there were deep economic and racial divides. Community leaders came up with a plan that included a revitalized transit centre.
Dozens of Glenora residents and community members celebrated Monday evening as Edmonton city council decided not to rezone a controversial site in the historic neighbourhood to make way for a two-storey commercial building.
Waterfront Toronto’s Digital Strategy Advisory Panel, a panel of experts advising development agency Waterfront Toronto about a proposed redevelopment of a waterfront neighbourhood, has issued a report calling Google affiliate Sidewalk Labs’ plan “frustratingly abstract.”
Barbara Gard is among thousands of B.C. landowners along the $4.5-billion Trans Mountain pipeline expansion route who have not yet granted the Crown corporation access to their property. Indigenous groups are also filing legal challenges.
While the tally of investment sales greater than $1 million in Metro Vancouver has dropped significantly this year, the second quarter saw a greater volume of land deals, according to the latest figures from Altus Group.
Pure Multi-Family REIT (RUF-UN-T) announced Institutional Shareholder Services, Inc. and Glass, Lewis & Co., LLC have both recommended unitholders vote to be acquired by Atlanta-based Cortland Partners, LLC in an all-cash transaction that values the trust at about US$1.2 billion.
Brookfield Property Partners (BPY.UN-T) has a global portfolio of office, retail, multifamily, logistics, hospitality, self-storage, and student housing assets on five continents. It is deeply aligned to the company’s philosophy of generating stable and growing distributions while protecting against risk.
Montreal homeowners will see a major increase in their property assessment. On average, residential and non-residential properties are going up 13.7 per cent, the city announced Wednesday. The new assessments will take effect Jan. 1, 2020 and cover the next three years.
Take one underused mall, several hectares of dreary parking lots and a bus loop or transit station. Urban planners and developers are banking on transforming that space into the vibrant, high-density urban centres of tomorrow.
For Vancouver real estate agent Bruce Long, the impact of the forestry fall-off in Northern B.C. hit home this week as one of his clients axed the price of a 32-unit rental apartment building in Mackenzie. Again.
Some millennials believe it is justifiable to lie on a mortgage application, according to an Equifax Canada survey on mortgage fraud. The survey states nearly 23 per cent of millennials deem it acceptable to inflate income when applying for a mortgage.