CT REIT’s Silver to retire; Melton returns as Melcor CEO

RENX  Commercial  •  Industrial, Retail  •  National

Ken Silver will retire as CEO of CT Real Estate Investment Trust (CRT-UN-T) and be succeeded by Kevin Salsberg, currently the REIT’s president and COO. Melcor REIT (MR-UN-T) also announced Andrew Melton will return as its interim CEO.

StorageVault Canada moving up to the TSX

RENX  Commercial  •  Industrial  •  National

StorageVault Canada Inc., (SVI-X), the operator of 228 storage locations across Canada, has received conditional approval to list its common shares and its outstanding senior unsecured hybrid debentures on the TSX.

Davpart proposes two 45-storey mixed-use towers

Residential, Commercial  •  Urban Toronto

Davpart has proposed a mixed-use building with two 45-storey towers rising from a 10-storey podium at 1910 through 1944 Yonge St. The Graziani + Corazza Architects-designed building would include 880 residential units, 18,212 square feet of retail space and and 143,000 square feet of office.

Oak Street buys Calgary’s Western Canadian Place

RENX  Commercial  •  Office  •  Calgary

Western Canadian Place, a major Calgary downtown office complex comprising two towers and over one million square feet of space, has been sold for $475 million. British Columbia Investment Management Corporation/QuadReal sold the property to Oak Street Real Estate Capital.

Starlight proposes 26-storey Etobicoke rental building

Residential  •  Urban Toronto

Starlight Investments has proposed to redevelop the western portion of the site at 580 The East Mall in Etobicoke with a 26-storey tower containing 253 residential rental units. The WZMH Architects-designed building would consist of 157 one-bedrooms (62%), 69 two-bedrooms (27%), and 27 three-bedrooms (11%).

Trump Tower Vancouver to rebrand as Paradox Hotel

Commercial  •  Daily Hive  •  urbanYVR

Changes are forthcoming for the shuttered Trump International Hotel & Tower Vancouver, ahead of its 2022 reopening. The upscale hotel property’s second life will carry the brand of Paradox Hotel as part of a new international hotel chain.

The Industrial Real Estate Show › Podcast: Driverless vehicles, the technology and the impact on CRE

Chad Griffiths: Partner, NAI Commercial

Sud Group proposes 14-storey mixed-use

Residential, Commercial  •  Urban Toronto

The Sud Group of Companies has proposed a 14-storey mixed-use condo building with 164 residential units on Yonge Street in Midtown Toronto’s Davisville Village. The Graziani + Corazza Architects-designed building would consist of 15 studios (9%), 31 one-bedroom (19%), 78 two-bedroom (48%), and 40 three-bedroom (24%) suites.

AWIN, Zanchin acquire GTA Mercedes-Benz dealerships

Commercial  •  Canada Newswire

Mercedes-Benz Canada Inc. announced the AWIN Group of Dealerships and Zanchin Automotive Group have joined forces to take ownership of all nine corporate-owned Mercedes-Benz dealerships in the Greater Toronto Area, known collectively as the Toronto Retail Group.

Code of conduct could ease grocery prices: Medline

Commercial  •  Financial Post

Supply chains are chaotic and the industry is still negotiating a code of conduct, a groundbreaking achievement Empire CEO Michael Medline believes could be helping retailers and suppliers tamp down the rising cost of food.

Calgary Co-op marks 65 years

Commercial  •  Retail Insider

The first Calgary Co-op grocery store opened in downtown Calgary in 1956 and 65 years later the chain has more than 440,000 members and numerous supermarkets and specialty stores. CEO Ken Keelor said its values and community-minded approach remains the same.

Real estate podcasts

Residential, Commercial  • 

Josh Kaufman, Starlight Investments: Development trends and big lessons, Highview Partners People Who Perform
Natasha Ferguson, EthelFox Construct Group: Helping women rise in construction industry, The Construction Record Episode 147
Paul Scialla and Brandon Crombeen, Delos: Healthy buildings, CRE Podcast

NORR architects busy with Calgary’s residential spaces

Residential  •  Calgary Herald

One of the shifts toward accomplishing Calgary’s revitalization is the movement of people choosing to live in the downtown and Beltline districts. There are many residential towers under construction and many of those have been designed by NORR architects.

Race is on for quality office assets in big cities: Colliers

Commercial  •  Globe Newswire  •  RENX

Colliers (CIGI-T) says quality office assets in major metropolitan markets such as London, New York, Tokyo and Sydney have retained their allure and will be in high demand next year. Core and core-plus office spaces are the top global picks.

CRE is outperforming amid rising inflation: M&M

Commercial  •  Globest.com

Commercial real estate prices have increased measurably this year delivering positive results for investors, John Chang, senior vice-president and national director Research Services at Marcus & Millichap said in a recent video.

When Amazon expands, communities pay the price

Residential, Commercial  •  The Guardian

Last year, with little warning, a new Amazon delivery station brought the rumble of semi-trailer trucks and delivery vans to Chicago’s Gage Park neighbourhood, where more than half the people within a mile have low incomes and nearly 90% are Hispanic.

Red-hot property market to lose some steam in 2022: Poll

Residential  •  Globe and Mail

Canada’s double-digit house price inflation will lose steam next year, but affordability is still almost certain to worsen in one of the world’s hottest property markets, according to a Reuters poll of analysts.

Prével among developers shut out of Mtl. social housing

Residential  •  La Presse  •  RENX

Prével, TGTA and Atelier Chaloub Architectes are among groups that did not receive the green light to integrate hundreds of social housing units into their projects, an “extremely frustrating” situation that goes against Montreal’s social diversity objectives.

Ont. housing affordability task force already facing scrutiny

Residential  •  Toronto Star  •  Daily Commercial News

Amid a housing crisis, Doug Ford’s Ontario government has struck a new task force on housing affordability, promising a report back in early 2022. Among its directives are to look at ways to boost supply of rented and owned homes.

Future rate hikes unlikely to rattle Van. prices: Polocz

Residential  •  Business In Vancouver

“When you have physical constraints like here Vancouver, I mean, home prices have to go up,” Stephen Poloz, former governor of the Bank of Canada, told a crowd gathered Thursday at the Terminal City Club in downtown Vancouver.