CF plans 5M-sq.-ft. ‘downtown’ in Montreal West Island

RENX  Residential, Commercial  •  Condominiums, Office, Apartments, Retail  •  Greater Montreal

Cadillac Fairview will build a new downtown of about five million square feet in Montreal’s West Island, west of the CF Fairview Pointe Claire mall. It will include office and residential towers, 5,000 residential units, senior residence, hotel, parks and retail.

Oxford, Cominar file suit against HBC

Commercial  •  Toronto Star  •  La Presse  •  CBC

Oxford Properties and Cominar REIT (CUF-UN-T) allege Hudson’s Bay Company hasn’t paid rent on multiple properties since the COVID-19 pandemic began, and have begun legal proceedings to get their money from the struggling retail giant.

Calgary industrial property could see 25% tax hike

Commercial  •  Calgary Herald

25 per cent tax hikes are potentially looming for some large Calgary industrial landowners. “Industrial properties, particularly large-format warehouses, are expected to see a substantial increase in property taxes for 2021,” says a new city administration report reviewed by a council committee.

U-Haul buys vacant Calgary Sun building, property

RENX  Commercial  •  Office, Industrial  •  Calgary

Canadian media giant Postmedia (PNC-A-T) has sold its Calgary Sun building to U-Haul, RENX has learned. The nearly 90,000-square-foot-building on 2.66 acres of land was first marketed about two years ago by commercial real estate firm Cresa.

Winnipeg considers selling 150-acre golf course

Commercial  •  CBC

The City of Winnipeg’s property and planning department is laying the groundwork to sell the John Blumberg Golf Course in Headingley. A report to the committee recommends the city market the 150-acre property, which has 18-hole and nine-hole golf courses.

Alberta golf course to be redeveloped

Residential, Commercial  •  Calgary Herald

Lakeside Golf Club, located in the City of Chestermere, is saying goodbye after nearly three decades under current ownership. It’ll make way for a new residential and commercial development following years of financial hardship.

Kanata’s RBR bucks trend, relocates to bigger digs

Commercial  •  Ottawa Business Journal

Kanata-based RBR ​– which makes high-tech sensors used in ocean research ​– has spent much of the past month and a couple of million dollars to convert space at 359 Terry Fox Dr. into its new Ottawa headquarters.

The importance of metrics in green buildings

Residential, Commercial  •  Sustainable Biz Canada

Metrics have become a major part of defining and benchmarking green building performance, but four senior executives in the sustainability sector agreed owners and operators face many challenges in implementing consistent measurable metrics.

Retailers banking on e-commerce costs paying off

Commercial  •  Financial Post (Sub. required)

In early March, Canadians started shopping the way retail executives had projected they would years from now. More consumers navigated websites, and for some of the country’s publicly traded retailers and grocers, e-commerce sales surged by up to fivefold.

Forcing shutdowns ‘excessive’: Cineplex CEO

Commercial  •  Globe and Mail  •  Global News

Cineplex Inc.’s (CGX-T) CEO CEO Ellis Jacob criticized shutdowns of movie theatres as “excessive” on Tuesday. “When we look at movie-going in general, it simply does not pose the same risk as other indoor services and gatherings,” Jacob said.

Tim Hortons sales expected to drop 12.5% in Q3

Commercial  •  Reuters  •  Canada Newswire  •  Canada Newswire

Restaurant Brands International Inc. (QSR-T) said on Wednesday it expects quarterly comparable sales for Burger King and Tim Hortons to slide globally, even though demand for its chicken sandwiches is expected to boost growth for Popeyes.

REIT business updates

Commercial  • 

American Hotel Income Properties REIT, (HOT-UN-T), Canada Newswire

WPT Industrial REIT, (WIR-U-T), Globe Newswire

Columbia, Allianz recap $400M San Fran office building

Commercial  •  CP Executive

Columbia Property Trust Inc. and Allianz Real Estate expand their partnership with the recapitalization of 221 Main St., a 381,000-square-foot office building in San Francisco’s South Financial District, via a joint venture transaction that values the fully leased asset at $400 million.

U.S. CRE investors predict price recovery in 2021

Commercial  •  IPE Real Assets  •  GeekWire

Commercial real estate investors predict up to a 10% fall in property value as a result of the coronavirus pandemic, but prices are expected to recover by next year, according to a survey of 325 directors and investors.

Silverstein gets $171M refi for 529 Fifth Avenue

Commercial  •  Commercial Observer

Silverstein Properties has refinanced its office tower at 529 Fifth Avenue in Midtown. As part of the $171-million revamp, Silverstein hired Architecture Plus Information to design a new lobby plus a 4,500-square-foot ninth-floor amenity space branded as The Willow.

India unveils $6.6B plan to boost demand, infrastructure

Commercial  •  Bloomberg

India announced measures worth $6.6 billion US to stimulate consumer demand and investment in the economy damaged by the coronavirus pandemic. Finance Minister Nirmala Sitharaman said states would be eligible to get $1.64 billion US in 50-year interest-free loans for capital expenditure.

Canadian market defies pandemic with price hikes

Residential  •  Financial Post  •  Canada Newswire  •  Toronto Star

Even a once-in-a-century pandemic isn’t enough to cool the Canadian housing market. The median home price is expected to reach $693,000 by the end of the year, a seven per cent year-over-year increase, according to a Royal LePage forecast.

Tiny condos biggest losers in T.O. market shakeup

Residential  •  Financial Post

For four months, Christopher Bibby anguished over how to sell a 435-square-foot condo in Toronto’s entertainment district. The unit, which was listed in March at $569,999, wasn’t visited once in its first two months on the market. No calls. No emails.

10% of Canadian households ‘housing disadvantaged’

Residential  •  Financial Post

Apartment dwellers, persons living alone, renters and visible minorities are more likely to be housing disadvantaged in Canada, according to data released by Statistics Canada in early October, which has identified cohorts whose core housing needs increasingly are not met.

Vancouver takes aim at affordable housing shortage

Residential  •  Globe and Mail (Sub. required)

In an effort to tackle the affordable housing crisis, Vancouver city council last week passed a motion to devote $30-million to the problem. It’s just one of the city’s recent moves to deal with the issue.