Quebec First Nation lays claim to downtown Ottawa

Quebec First Nation lays claim to downtown Ottawa

A Quebec First Nation has filed a lawsuit seeking aboriginal title over much of downtown Ottawa, including Parliament Hill. “The Algonquin Anishinabe Nation has never surrendered its title to the Kichi Sibi lands,” says the band’s statement of claim filed Wednesday in Ontario’s Superior Court.

Ottawa Business Journal

Cirque du Soleil coming to Zibi in 2017

Windmill Development Group and Dream Unlimited Corp. (TSX:DRM) took the first step in establishing Zibi as a go-to outdoor event space today with the announcement that Cirque du Soleil will bring a new show to the site, starting in August 2017.

Ottawa Business Journal

Builders flock to high-end rental development

In the past two or three years, executives for Minto, the Ottawa-based apartment developer, have spotted an opening in a market that had seemed all but moribund for years, even decades. Those opportunities, as it turns out, were hiding in plain view, in the form of the sprawling open spaces at the bases of some of Toronto’s 1960s-vintage apartment towers.

Globe and Mail

Developers understand Vanier is the next place to be

Revitalizing a neighbourhood is never easy, but nothing worth doing ever is.  Vanier has become a hive of activity in recent years as developers pursue various projects to give old landmarks a new lease on life and remake old properties into something new.  It all comes down to dollars and cents.

Ottawa Business Journal

NCC green spaces provide significant economic value

If you’ve ever wondered what the National Capital Commission’s 55,000 hectares of green spaces and agricultural land are worth, a study released Tuesday provides an answer — of sorts. The study concludes that the total economic value of all natural and cultivated NCC green space averages $332 million a year.

Ottawa Citizen

The Globe and Mail bids farewell to 444 Front Street West

Its time on Earth was too short, but in its brief life 444 Front St. West would witness many things: hundreds of thousands of newspaper stories created, countless cigarettes smoked, the odd fist fight engaged, the occasional marriage contracted, and the utter transformation of one industry.

Globe and Mail

Vancouver real estate assessments continue to soar

Real estate assessments for single-family detached houses in the Vancouver region soared 30 to 50 per cent in value over only a one-year period, underscoring the frenzied state of the market in mid-2016. The latest increase from July 1, 2015, to July 1, 2016, is the sharpest for any one-year valuation period in the Vancouver area in recent memory.

Globe and Mail – Vancouver Sun

North Van homeowners fight 361% increase in property assessment

Even by Lower Mainland standards, a 361 per cent increase in the assessed value of a house in one year is remarkable. But such a staggering jump — and the tripling of property taxes that comes with it — wasn’t grounds for a successful appeal of the North Vancouver property’s 2016 assessment.

CBC

CRE sales hit quarterly record as investors seek yields

Real estate firm CBRE says Canada hit a record level for commercial real estate sales in the third quarter and is on track to beat an annual record set during the 2007 boom. The firm says sales of office space, apartments, land and other commercial properties hit $11.2 billion in the quarter ended Sept. 30.

Financial Post

Hamilton construction tops $1B

In a sign that Hamilton’s renaissance is continuing, the city has seen more than $1 billion worth of construction this year. That’s the sixth time in seven years. The city passed the milestone on Thursday, when it hit $1,010,000,000 in building permits. That represents 8,741 building projects in the residential, institutional, commercial and industrial sector.

CBC

Demand for real estate law services rise amid housing boom

The real estate law practice area has undergone a sea change in recent years, as insatiable demand for downtown housing ushers in a new wave of mixed-used developments. In Canada’s largest cities, most commercial real estate practitioners say demand for their services is sky-high and has been for the past few years.

Globe and Mail

Automotive Properties REIT acquires Montreal dealership

Automotive Properties REIT (APR.UN-T) has closed the previously-announced acquisition of the automotive dealership property located at 1905 and 1917 Boulevard Sir Wilfred Laurier in St. Bruno, Quebec  within the Greater Montreal Area, for a purchase price of $14.3 million.

Canada Newswire

Rosenau Transport opens major airport distribution centre

A major Edmonton-based trucking company hopes a new facility at the Edmonton International Airport will help launch it into the growing global air cargo business. Rosenau Transport Ltd. moved this fall into an approximately 20,000-square-metre distribution centre and warehouse in the cargo village south of the terminal, replacing two leased structures in east Edmonton.

Edmonton Journal

MPPs send symbolic message with vote against road tolls

Opposition MPPs have sent a symbolic message to Premier Kathleen Wynne: don’t approve Toronto Mayor John Tory’s plan to slap tolls on the Don Valley Parkway and Gardiner Expressway. New Democrats supported a Progressive Conservative motion aimed at getting Wynne to block new tolls on existing lanes of any Ontario highway, including the DVP and Gardiner.

Toronto Star

Canada’s airports are falling behind global competitors

A coalition of Canada’s largest cities has slammed the state of the country’s airports, joining a growing chorus of criticism that warns of missed economic opportunities if the federal government doesn’t make major investments and policy changes soon according to a report issued Thursday by the Canadian Global Cities Council (CGCC).

Financial Post – CBC

Market Trends and Research

Improved economic outlook for maritime Provinces

Prince Edward Island, Nova Scotia and New Brunswick should all see sound economic growth in the coming year, according to The Conference Board of Canada’s fall Provincial Outlook: Autumn 2016.

Canada Newswire

Alberta petrochemical plants expected to generate thousands of jobs

The Alberta government will hand out $500 million worth of royalty credits to two pipeline companies if they build propane-processing plants in the Edmonton region. Government ministers and industry executives both say the promise of diversifying the energy industry and thousands of jobs make the projects worth the cost of the subsidies.

Edmonton Journal

Real Estate Companies

Firm Capital American Realty Partners Corp. provides additional information

 Firm Capital American Realty Partners Corp., (FCA.U-X) is pleased to provide additional information regarding its recently announced proposed $7.5 million joint venture investment in New York City, a reminder about the rights offering and update on the share consolidation.

Canada Newswire

Real Estate Investment Trusts

Morguard REIT announces offering of convertible debentures

Morguard Real Estate Investment Trust (MRT.UN-T) has entered into an agreement with a syndicate of underwriters, co-led by RBC Capital Markets and TD Securities Inc. on a bought deal basis, subject to regulatory approval, of $175,000,000 aggregate principal amount of 4.50% convertible unsecured subordinated debentures due December 31, 2021. 

Marketwired

Morguard REIT to redeem convertible unsecured subordinated debentures

Morguard REIT (MRT.UN-T) will redeem all of its outstanding 4.85% Convertible Unsecured Subordinated Debentures on January 9, 2017. The Debentures were issued on October 31, 2012 and mature on October 31, 2017.

Canada Newswire

Retail

Sears Canada posts wider loss as lack of financing options hit sales

Department store operator Sears Canada Inc. (SCC-T) reported a bigger third-quarter loss as it same-store sales were hit by a lack of attractive financing options due to the termination of a key credit card agreement. Sears terminated its credit card marketing and servicing agreement with JPMorgan Chase Bank in November last year.

Canada Newswire

Restaurants and Eateries

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New Development

Condo proposed for Wild Earth Bakery site, Edmonton

The family of longtime Old Strathcona grocer Tubby Bateman is proposing to demolish the store he once owned and a nearby cafe to build a 28-storey condo tower. Bateman started what became a chain of IGA outlets in 1932 with a shop at 99 Street and 89 Avenue, a corner that now has Wild Earth Bakery and Cafe, and Wild Earth Foods next door. 

Edmonton Journal

Early exit for syndicate mortgage lenders in Ottawa

Building and Development Mortgages Canada Inc. (BDMC) announced today that lenders in a syndicate mortgage that funded Bronson, a Lamb Development Corp. (LDC) and Fortress Real Developments Inc. project in Ottawa, received their principal back in full and an estimated annualized return of 8.61%*. Lenders were re-paid 10 months ahead of the loan maturity date.

Canada Newswire

Burlington developer’s Stationwest gets cozy with transit

Burlington-based Adi Developement Group says it wants to correct the misconception that local homeowners need to be car owners, too. Its latest infill project, located next door to the Aldershot GO station, will be transit- and pedestrian-friendly, with all the essentials either on-site or nearby, in addition to many entertainment options.

Globe and Mail

Sports Venues

Taskforce recommends top five spots for Cambridge multiplex

A taskforce that has been reviewing locations for the proposed Cambridge multiplex has filed its final report that ranks the top five choices. Two locations tied for the top spot in the site scoring results.

CBC

Infrastructure

Ottawa’s new hospital will be built on a fault line

Ottawa’s new $2-billion Civic campus will be built on one of the city’s major fault lines, but experts say the new hospital will be much safer than the existing facility in the event of a major earthquake. But experts believe the fault is inactive.

Ottawa Citizen

Other

Workers falsely portrayed as stealing, reputations are ruined

City roads workers falsely portrayed as stealing asphalt say the accusations hurt their marriages, their job prospects and life with their neighbours — and they want compensation for those difficulties. One worker says neighbours stopped speaking to him when the city floated allegations that his pothole-filling crew was illegally selling asphalt.

CBC

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