Commercial property tax ratio remains high in Canada

Commercial property tax ratio remains high in Canada

Commercial property tax rates are almost three times as high as residential rates across Canada, according to Altus Group’s newly released 2018 Canadian Property Tax Rate Benchmark Report. “Ideally, in a perfect property tax system, the ratio would be one-to-one,” said Terry Bishop, Altus Group’s president of property tax for Canada.

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Calgary industrial construction hits near-record level

The pace of construction for industrial real estate in the Calgary region is the second-highest in the city’s history as the robust market continues to see high demand. Millions of additional square feet are planned or expected to begin construction in the coming years if the market conditions remain ripe for development.

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The People Space: New faces, new roles at Fiera, CF, Timbercreek …

Investment management company Fiera Capital Corporation has announced new executive hirings in both Canada and Europe. Lucas Pontillo joined Fiera as executive vice president and global chief financial officer effective Oct. 22. Pontillo takes over from John Valentini, who served as CFO the past three years.

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Suburban Ottawa office market regains favour with tenants

Sixty per cent of Ottawa’s office space exists outside the downtown core and it continues to experience very different fates depending on location, according to panelists at the recent Ottawa Real Estate Forum. Successes in areas such as tech-heavy, West-End Kanata were compared to a stagnant East End as panelists discussed the factors behind the trends.

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Who is really doing the homebuying in our mad markets?

The residential real estate markets in Toronto and Vancouver can only be described as surreal. The home buyers just keep coming, regardless of price. We’ve had the debate in recent years about whether inflationary pressures have been sparked by foreign buyers looking to park or launder money, or take advantage of provincial immigration programs.

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WiredScore marks one year in Canada with KingSett

SPONSORED CONTENT: WiredScore, the company behind the international standard for rating Internet connectivity in commercial buildings, has made major strides since it launched with Toronto as its first Canadian flagship market in October 2017.

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Longo’s to open first near net-zero supermarket

Longo Brothers Fruit Markets will open Canada’s first near net-zero supermarket with help from Natural Resources Canada‘s Energy Innovation Program. The 40,000-sq.-ft. supermarket in Stouffville, Ont., will use 35 per cent less energy than similar stores and produce 65 per cent of its own energy through renewable technologies.

Sustainable Biz Canada

Six months ago: IAM buys 20 ex-Cominar properties from Slate

The president of Integrated Asset Management Corp.’s real estate group says the acquisition of 20 industrial properties in Atlantic Canada is part of a strategy to diversify its geographical holdings. The properties, primarily in New Brunswick, were purchased from Slate Acquisitions Inc., which itself had recently acquired the properties from Cominar REIT.

Property Biz Canada

One year ago: Massive Calgary Taza development valued at $4.5B

A massive commercial real estate development on the Tsuut’ina Nation, bordering Calgary city limits, will be named Taza, it was revealed during the recent Calgary Real Estate Forum. The development is on 1,200 acres of land and will eventually include 17 million square feet with a real estate value in the neighbourhood of $4.5 billion.

Property Biz Canada

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