Ontario rent control clouds building boom

Ontario rent controls cloud over booming builds

The time is right for rental buildings across much of Canada, even with dampening developments such as Ontario’s renewed commitment to rent controls. “After 40 years of virtually no new construction of purpose-built rentals, we are seeing a resurgence of activity in most majority markets,” David Bloomstone, director of investment banking with TD Securities and moderator of an industry panel on rental builds at the Land & Development Conference this week.

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Serruya family buys Thornhill shopping centre

It’s one of those feel-good examples of local boys making good and wanting to give back to the community. The Serruya family, in partnership with Liberty Development Corporation, has purchased Promenade Shopping Centre in Thornhill, Ont. from Cadillac Fairview for an undisclosed price.

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Vancouver ‘shinier than ever on the world stage’

Land’s pricing and its role in major deals was the topic of discussion among five real estate executives during a panel session at the May 3 Land & Development Conference at the Metro Toronto Convention Centre. In the Vancouver region, there’s insufficient land or housing to meet demand and residential land transactions reached a record high of $6 billion last year.

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New Molson Coors brewery a big deal for Chilliwack

Molson Coors has started work in Chilliwack on a new $200-million brewery that is expected to pull workers from Vancouver and become one of the largest industrial users in the Fraser Valley city. In early 2016, Molson Coors closed a deal to sell its existing three-hectare brewery site near Burrard Bridge in Vancouver to mega developer Concord Pacific.

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CaGBC set to unveil Zero Carbon Buildings Standard

The Canada Green Building Council will unveil its Zero Carbon Buildings Standard to the public at its Build Lasting Change Conference May 31-June 1 in Vancouver. The framework is the result of over 18 months of work led by Mark Hutchinson, the CaGBC vice president of green building programs. The first step, he explained, was actually defining a “zero carbon building.”

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Housing, income and making Ontario communities livable

Cooling Ontario’s blistering housing market and providing a basic income to everyone – what social-economic impacts will these moves by the Wynne government have on real estate? Let’s start with the housing market. The Ontario Liberals have announced a 15 per cent foreign buyers tax on anyone who purchases residential property and is not a resident of the province.

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Six Months Ago: Vancouver industrial space bottleneck for Canada

Metro Vancouver commuters and transporters are enjoying new and improved bridges and roads, but a severe shortage of industrial space continues to bottleneck the movement of goods and people, say local stakeholders and experts. The industrial vacancy rate in Metro Vancouver is 2-3% said Lee Hester, a senior vice-president with JLL in Vancouver. A healthy industrial vacancy rate is in the 5-6% range.

Property Biz Canada

One Year Ago: Ottawa’s Emerald Plaza has a new owner

Ottawa’s mixed-use Emerald Plaza has changed hands for $26.1 million through the assistance of Primecorp Commercial Realty Inc. Emerald Plaza is located on about 10 acres along the east side of Merivale Road, one of the region’s busiest retail shopping corridors. It features a five-storey, 56,823-square-foot office component and a 95,074-square-foot retail strip mall.

Property Biz Canada

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