Pop-up retailers tout benefits, but warn: ‘Do it right’

RENX  Commercial  •  Retail  •  National

When Vancouver-based Indochino launched its first pop-up store in 2014, the suit-seller logged four months of sales in four days. Pop-ups were part of its transition from online-only to a bricks-and-mortar presence, but must be handled strategically or they could backfire.

Office buildings, hotels coming to Richmond

Commercial  •  Daily Hive  •  Western Investor

A complex entailing two office buildings and two hotels operated by Marriott International: Courtyard Marriott and Residence Inn Marriott is planned for Bridgeport Business Centre in North Richmond, B.C. IBI Group is designing the redevelopment.

Disappearing hotel rooms plague Vancouver

Commercial  •  Business In Vancouver

An Urban Development Institute (UDI)  discussion on April 30 will focus on accommodation for Vancouver’s visitors. “. . . the number of hotel rooms in the city has declined by 1,105 rooms over the past decade,” city staff reported last year. 

Fairmont Royal York at 90: ‘Transformation’ nearly done

RENX  Commercial  •  Hotels and Resorts  •  Toronto / GTA

The landmark Fairmont Royal York in downtown Toronto will celebrate its 90th anniversary this summer with the completion of renovations years in the making. Multiple phases of renovations have been taking place at the Front Street property since 2013.

RE boom drives Montreal to another budget surplus

Residential, Commercial  •  CBC  •  CTV

Montreal recorded another hefty budget surplus last year, driven by the strength of the city’s booming real estate market. In 2018, it reached $213 million, well above the previous year, which saw a surplus of $140 million.

The Saskatchewan Edge › Can we put a price on landmarks such as Notre-Dame?

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

Carp Road manufacturing hub expected to double

Commercial  •  Ottawa Business Journal

With existing firms investing in new equipment and sizable industrial land tracts available for development, the head of the Carp Road business association predicts one of Ottawa’s largest manufacturing hubs is poised to double in size in the coming years.

Ottawa’s top LRT planner stepping down

Commercial  •  CBC  •  Ottawa Citizen

Chris Swail, the senior city staffer who has overseen the planning of Ottawa’s $4.66-billion Stage 2 LRT project, is stepping down. As director of O-Train planning, Swail has spent the last four years shaping the expansion project.

Ottawa declares state of emergency as water rises

Residential, Commercial  •  CBC  •  Global News  •  Ottawa Citizen

Ottawa Mayor Jim Watson has declared a state of emergency as river levels continue to rise, threatening to surpass those reached during devastating flooding two years ago. Watson made the announcement during a news conference Thursday afternoon.

Kingdom launches KSquare Condos in Scarborough

Residential  •  Urban Toronto

Last week, Chinese developer Kingdom Developments launched its first foray into the Toronto real estate market with KSquare Condos. The firm has developed more than 40 million square feet of office space, conference centres and hotel properties in China and Vancouver.

Ivanhoé expands U.K. logistics investments with PLP

Commercial  •  IPE Real Assets  •  RENX

Ivanhoé Cambridge is expanding its U.K. logistics investments with the acquisition of four development projects via its partnership with PLP. Ivanhoé acquired the projects to develop over 2.6 million square feet of logistics space for more than $521 million Cdn.

Macy’s considering office tower atop NYC flagship

Commercial  •  Bloomberg  •  CNBC

Macy’s Inc. (M-N) has held preliminary discussions with New York City officials about building a skyscraper on top of its flagship store in Manhattan’s Herald Square as the old-guard retailer seeks to unlock value from its real estate.

Calgary likely to retain ownership of new arena

Commercial  •  Calgary Herald

The Calgary Flames are out of the playoffs, but the biggest hockey event in the city this year is likely still to come in the form of a potential deal to replace the Saddledome.

Foreign-buyer tax playing havoc with B.C. farmland

Residential, Commercial  •  Business In Vancouver

The provincial government has moved to ban the construction of mega-mansions on provincial farmland, which real estate agents who specialize in farms and rural resorts say became a problem as a direct result of B.C.’s foreign-buyer tax.

Pure Multi-Family REIT announces TSX listing

Residential, Commercial  •  Canada Newswire  •  RENX

Pure Multi-Family REIT LP (RUF-U-X) announced it has received final approval from the Toronto Stock Exchange to list its class-A units and 6.5 per cent convertible unsecured subordinated debentures.

REIT first-quarter financial results:

Commercial  • 

Choice Properties REIT, (CHP-UN-T), Canada Newswire

Prices not driving millennials out of biggest cities: RBC

Residential  •  Bloomberg  •  Business In Vancouver  •  Globe and Mail

High housing costs are not leading to an exodus of millennials from Canada’s most expensive markets, according to a new Royal Bank of Canada report, which suggests future demand isn’t under threat in the country’s largest cities.

$200K to relocate not enough: Quebec homeowners

Residential  •  CTV

Quebecers with homes built on flood plains say Premier Francois Legault’s $200,000 offer to move to a home in an area that is less susceptible to flooding is far from enough to get them to relocate.

Ottawa developers ‘rolling the dice’ to add units

Residential  •  CBC  •  Globe and Mail

Developers building triplexes in Westboro are returning to the city for approval to add a fourth unit as a way of circumventing the normal process, Ottawa’s planning committee heard Thursday.

Self-employed buyers turn to private lenders

Residential  •  Globe and Mail

The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage. In addition to government-mandated stress tests and poor credit scores, the self-employed often have additional burdens in proving their income.