Distrikt Capital moving up to high-rise development

RENX  Residential  •  Condominiums, Homes  •  Toronto / GTA

“Distrikt is only five years old, but it’s a business that was 25 years in the making,” said Distrikt Capital co-founder and chief executive officer Paul Simcox of his firm, which acquires and develops Greater Toronto Area (GTA) real estate.

Shopify set to vacate 170,000-sq.-ft. Ottawa HQ

Commercial  •  Ottawa Business Journal

Three months after declaring it was going “digital by default” due to COVID-19, Shopify (SHOP-T) is preparing to vacate its Elgin Street headquarters as part of a plan to consolidate its Ottawa operations at a nearby Laurier Avenue office tower.

Lethbridge’s Exhibition Park to undergo expansion

Commercial  •  Calgary Herald

Lethbridge’s Exhibition Park is set to receive a 280,000-square-foot trade and convention centre to replace three aging pavilions. Calgary-based Dialog architect Gerry Doering is a partner in charge of the project.

The People Space › People Space: Exec hirings at MACH, Colliers, Epic…

Don Wilcox: Managing Editor

Edmonton offered major incentives for Amazon HQ2

Commercial  •  Financial Post (Sub. required)

According to documents, Edmonton’s recent success in attracting high-paying tech jobs is thanks in part to offering Amazon 18 incentives for HQ2 including favourable options for acquiring municipal land, lease incentives and support through investments in building upgrades and R&D funds.

Concert’s Harbourside Lands development progressing

Residential, Commercial  •  urbanYVR  •  RENX

Phase 1 of  Concert Properties‘ mixed-use development plans for the Harbourside Lands in North Vancouver will include building heights between seven to nine storeys. In total, the Musson Cattell Mackey Partnership-designed development comprises 470,000 square feet and consists of four parcels.

Sponsored by Yardi Implementing new energy strategies post COVID-19

Expense management is one of the main concerns for owners attempting a return to the office post COVID-19. Utilities are among the largest controllable expenses for business owners . . .

Ottawa extends business loans, but not CRE rent relief

Commercial  •  Globe and Mail

The federal government extended two pandemic business-loan programs Monday, but held back from stretching its pandemic rent-relief program for entrepreneurs into September, leaving thousands of businesses without a crucial lifeline.

Brantford OKs sale of golf course despite opposition

Residential, Commercial  •  CBC

Brantford city council has approved the sale of the Arrowdale golf course with the intention of using the money for affordable housing. However, it made the decision with a judicial review at its doorstep and with residents protesting.

Design evolves for Menkes’ residential proposal

Residential  •  Urban Toronto

Menkes Developments‘ resubmitted Site Plan Approval application to the City of Toronto for a 25-storey residential building in Yorkville depicts alterations to Giannone Petricone‘s design. The previous plan called for 136 condominiums, with the updated scheme now providing 202 units.

Van.’s St. Regis Hotel spent lockdown renovating

Commercial  •  BC Business

While most in the hospitality business were cutting employees and costs during the COVID-19 pandemic, one of Vancouver’s oldest hotels was spending cash on improvements. The St. Regis Hotel, owned by Vancouver-based Macdonald Development Corp., opened in 1913.

REOC second-quarter financial results

Commercial  • 

Gulf & Pacific Equities Corp., (GUF-X), Globe Newswire

NexPoint Hospitality Trust, (NHT-U-X), Canada Newswire

Brookfield, GIC buy $3.4B India telecom tower firm

Commercial  •  IPE Real Assets

Brookfield Infrastructure Partners, GIC and a number of co-investors have completed the acquisition of a telecom tower company in India from Reliance Industrial Investments for about $3.4 billion US. Brookfield will be investing $600 million in the company.

Anbang, Mirae sue each other over $5.8B hotel deal

Commercial  •  Bisnow

The collapse of a 15-hotel deal has led to Anbang Insurance Group and Mirae Asset Global Investments each suing for alleged breach of contract. The US$5.8 billion deal includes New York’s Essex House and San Francisco’s Westin St. Francis.

Amazon wins U.S. approval to deliver packages by drone

Commercial  •  Canadian Grocer

The Federal Aviation Administration said Monday it had granted Amazon approval to deliver packages by drones. Amazon said the approval was an “important step,” but it did not say when it expected drones to make deliveries to shoppers.

15 years later, Walmart launches answer to Amazon Prime

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

Walmart (WMT-N) is launching a membership service it hopes can compete with Amazon Prime (AMZN-Q). Walmart+ will cost $98 a year, or $12.95 a month, and give members same-day delivery on 160,000 items and a fuel discount at certain gas stations.

Greystar joins CPP, Cyrela’s multifamily JV

Residential  •  IPE Real Assets  •  Canada Newswire

Greystar Real Estate Partners has marked its entry into the Brazilian rental housing market by joining CPP Investments and Cyrela Brazil Realty’s existing partnership. Greystar joined the duo to develop a portfolio of rental housing assets across São Paulo.

Halifax’s booming market leads to shortage of houses

Residential  •  HalifaxToday

The Halifax Regional Municipality’s real estate market is booming and it’s proving to be a difficult year for homebuyers. There are currently just over 1,200 houses for sale in the HRM. At the same time in 2018, there were about 2,500; last year, 1,900.

Home renovation spending heats up again

Residential  •  CBC

After rising to a record high last year in Canada, spending on home renovations fell off a cliff in the early days of the COVID-19 pandemic. However, Canadians are once again opening up their wallets to improve their temporary workplaces.

U.S. rental concessions on the rise

Residential  •  PR Newswire

Rental concessions on Zillow listings are now nearly twice as common as they were in February, as landlords strive to attract new tenants in a rental market that has softened considerably since the coronavirus pandemic took hold.