1414 Bayview a Gairloch specialty: Mid-rise GTA condos

RENX  Residential  •  Condominiums  •  Toronto / GTA

Gairloch Developments founder and president Bill Gairdner is “curiously optimistic and excited” about launching a Toronto condominium during a pandemic-induced economic shutdown. The Toronto development company kicked off sales for 1414 Bayview this month.

CF, Ivanhoé sue over land expropriation

Commercial  •  CBC

Cadillac Fairview and Ivanhoé Cambridge are asking the Quebec Superior Court to quash an expropriation notice issued by the Société de transport de Montréal (STM) in January over the expropriation of land to complete the Metro Blue line.

Ivanhoé, Bouwinvest, Greystar JV on Paris co-living

Residential, Commercial  •  IPE Real Assets

Ivanhoé Cambridge, Bouwinvest Real Estate Investors and Greystar Real Estate Partners have teamed up to invest $1.53 billion Cdn in student housing and young professional real estate in Paris. The venture will be majority-owned by Ivanhoé Cambridge via its U.K. arm.

498 housing construction projects delayed in GTA: BILD

RENX  Residential  •  Condominiums, Apartments, Homes  •  Toronto / GTA

A BILD survey has found 498 residential construction projects by members in the GTA have been delayed by the COVID-19 pandemic. In Toronto itself, 65 per cent are delayed three to six months, 32 per cent face delays of greater than six months.

Sobeys launches Voilà e-commerce platform

Commercial  •  Globe and Mail (Sub. required)  •  Canada Newswire

A fleet of robots whiz to and fro along metal tracks, pausing frequently to hoist plastic bins full of grocery items from a vast storage grid beneath them. The robots glide from square to square, constantly rearranging the bins.

Real Estate Wealth Insights › Is it time to reposition your portfolio and ensure it’s properly stewarded?

Greg Placidi: Chief Investment Officer & Portfolio Manager, Equiton Capital

Private Pension plans three-building project in Winnipeg

Residential, Commercial  •  Winnipeg Free Press

BLDG Architecture, Pre-Con Builders and developer Private Pension Partners are building a mixed-use, six-storey residential development that will feature 89 units and a ground floor reserved for commercial use, and two four-storey buildings with 59 units each in Winnipeg’s Osborne Village.

Reliance leases a third of Van. rental building

Residential  •  Vancouver Sun

Jon Stovell, CEO of Reliance Properties, the owner of a new, purpose-built 22-storey rental building in Vancouver’s West End with expensive rents, said he’s been surprised to lease out about a third of its 108 units.

Vancouver looks to tilt balance from condos to rentals

Residential  •  Vancouver Sun

Vancouver is considering its first use of new rental zoning powers, proposing changes to make it easier for developers to build taller in many commercial districts if they opt for rental apartments over condos.

Van. small businesses face steep costs for permits

Commercial  •  Globe and Mail

It costs Vancouver’s small businesses and the local economy almost $750,000 and a wait of more than eight months every time one of them applies for a permit to open a store, fitness facility, restaurant or bar, according to LOCO BC.

Online shopping soared as COVID-19 settled in in April

Commercial  •  CBC  •  Business In Vancouver

Online sales totaled $3.4 billion during April, an increase of 120 per cent year-over-year. In total, online selling made up almost 10 per cent of everything sold during the month, an all-time high.

Mid-rise mixed-use project would replace church

Residential, Commercial  •  Urban Toronto

The owner of a vacant church building in Toronto’s Hillcreat Village area has proposed an eight-storey residential replacement building. Designed by KC AU Architect Inc., the brick and glass-clad development would contain 29 condominiums located above 2,700 square feet of retail space.

Brookfield sues Gap over unpaid rent

Commercial  •  Footwear News

In a lawsuit filed this month in Texas, Brookfield Property Partners claimed Gap Inc. has skipped out on $2 million in rent over three months. Brookfield also alleges that Gap is refusing to open stores at its properties in Texas.

Top five U.S. markets for office construction

Commercial  •  CP Executive

Nationwide, developers were working on almost 150 million square feet of space at the end of April. The projects underway in the metros on this list represent as much as 10.9 per cent of office stock, nearly four times the U.S. average.

Flex office sector shows signs of bouncing back

Commercial  •  CP Executive

Last year, the co-working sector experienced a boom, with pre-pandemic activity reaching an all-time high, according to a Coworking Resources 2019 report. A lot has changed since then — the sector now bears little resemblance to its position at the beginning of 2020.

Cross-border investment in London offices tumbles – RCA

Commercial  •  IPE Real Assets

Central London’s office market recorded a drastic fall in overseas investment during the first five months 2020, due mainly to COVID-19 and Brexit. Cross-border acquisitions totaled just $2 billion Cdn during the period, falling 70 per cent year-over-year to the lowest level since 2009.

B.C. extends rental support for tenants and landlords

Residential  •  CBC  •  Globe and Mail

The B.C. government is extending the temporary rental supplement until the end of August to support renters and landlords. The temporary rental supplement (TRS) program provides $500 per month for eligible households with dependents and $300 per month for eligible households without.

TRREB pushes for land transfer tax relief for first-time buyers

Residential  •  Globe Newswire

The Toronto Regional Real Estate Board (TRREB) is calling on the City of Toronto’s Executive Committee to move ahead with long-needed adjustments to the Municipal Land Transfer Tax First-Time Home Buyer Rebate.

U.S. existing-home sales fall 9.7% in May

Residential  •  PR Newswire  •  PR Newswire

Existing-home sales fell in May, marking a three-month decline in sales, according to the National Association of Realtors. Each of the four major regions witnessed dips in month-over-month and year-over-year sales, with the Northeast experiencing the greatest month-over-month drop.

Northview Residential Fund files amended IPO

Commercial  •  Canada Newswire

Northview Canadian High Yield Residential Fund announced it has obtained an amended and restated preliminary prospectus amending and restating the preliminary prospectus, for its initial public offering of trust units.