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ONE Properties to build 2 mixed-use towers at East Village Calgary
ONE to build 2 mixed-use towers at East Village Calgary
Alberta-based ONE Properties plans to build two mixed-use towers in the master-planned East Village neighbourhood, just outside of Calgary’s downtown core.
Keltic closes on $100M-plus Burnaby site
Keltic Development has closed on the purchase of a 1.8-acre site in Burnaby for “in excess of $100 million” under a share-sale agreement, says CEO Rachel Li Lei. The site represents an entire city block in Burnaby’s Metrotown.
Proment launches final phase of Quartier Pointe-Nord
Proment Corporation Thursday broke ground on the first phase of EVOLO NEX, in the Quartier Pointe-Nord project on Nuns' Island. EVOLO NEX represents the seventh phase of the 1.1-million-square-foot project, which will include approximately 2,200 housing units.
Nexus to pay $173.3M to acquire Montreal, GTA, London ind.
Nexus Industrial REIT (NXR-UN-T) has announced its largest series of transactions in what has been a very busy fall season – three newly constructed or upgraded properties in Ontario and Quebec comprising 635,000 square feet for $173.3 million.
Wesgroup still awaiting approval for Port Moody project
Years after 59 house owners sold their Port Moody lots for development, the 14.8-acre land assembly has closed at $157.2 million. But Wesgroup Properties' mixed-use project, which includes an estimated 2,587 housing units, is still not approved.
Morguard plans deep retrofit at Ottawa's JET buildings
Canadian real estate company Morguard Corporation (MRC-T) has initiated a deep energy retrofit of its 550,000-square-foot Jean Edmonds Towers (JET) office complex in Ottawa.
Mtl. municipalities must set right tone for redev. projects
OPINION: To avoid potential lawsuits and to ensure mixed housing options are available, West Island municipalities need to consult and then reach some consensus when it comes to tabling sensible urban plans, particularly when it comes to transit-oriented development areas.
Municipalities can make up loss from dev. charges: Ford
Ontario Premier Doug Ford said Thursday he does not believe the loss of development charges entailed in a housing bill his government passed will hurt municipalities. He suggested they can likely make up some of the shortfall by cutting waste.
Mortgage industry titan Stephen Smith not panicking
Stephen Smith, co-founder/CEO of First National Financial, Canada’s largest non-bank residential mortgage lender, said now is not the time to panic, although he advises people to get acquainted with interest rates because the days of rock-bottom lending are over.
T.O. plans pay hike for city planners
Toronto intends to boost the salaries of city planners on its payroll in an effort to address a long-standing retention problem in the department that’s been blamed for worsening the housing crisis.
Hungerford, F.N. restart stalled Kelowna res. project
Ntityix Development Corporation, a Westbank First Nation development company, is stepping in to salvage a 23-unit West Kelowna townhouse development project left dormant five years ago, partnered with Hungerford Properties. The three-building development was left unfinished by previous developers.
Real estate podcasts
Curtis Way, RMS Group: Developing through cycles, CRE Podcast
Tim Sanderson, JLL: Post-Covid retail, CRE Podcast
Rita Tené Ellison, T. Dallas Smith & Company: Putting customers first in CRE, Tenant Experience Network
Blackstone selling 49.9% stake in two Las Vegas hotels
Blackstone has agreed to sell its 49.9 per cent stake in two Las Vegas hotels in a deal that values the properties at $5.5 billion US, according to sources, marking one of the largest U.S. casino transactions this year.
U.S. has closed $71.9B in warehouse sales in 2022
Approximately $71.9 billion of transactions closed in the U.S. at an average of about $128 per square foot, according to CommercialEdge — in other words, 561.7 million square feet of space. Sales are still near record levels.
Developers ditching Florida projects due to insurance costs
Spiking insurance costs are impacting the real estate market in South Florida, causing some developers to put major projects on hold – despite booming demand for residential and commercial property.
U.S. apartment rents decline for third straight month
Apartment List, an apartment listing service, has recorded the sharpest fall in rents since it started tracking the market five years ago, and it anticipates further declines through the winter.
Foreign homebuyer ambiguity creating business headaches
OPINION: Canada’s impending ban on foreigners purchasing residential real estate - the Prohibition on the Purchase of Residential Property by Non-Canadians Act - is complicating how businesses hire, promote and transfer immigrant workers because of an information vacuum about the final rules.
Deteriorating housing affordability conjures up 1980s
National Bank of Canada Economics' Kyle Dahms and Alexandra Ducharme lined up several current metrics against those from the 1980s and found the data underlying this housing downturn is either beating or close to matching the data from that decade.
Calgary home inventories at lowest level since 2005
Calgary’s real estate market saw monthly sales, prices and new listings decline in November as the inventory of homes for sale fell to the lowest level reported since 2005, according to figures released Thursday by the Calgary Real Estate Board.
Calgary rental prices expected to go even higher: Insiders
Calgary's tight rental market is likely going to get worse for renters before it gets better, say industry insiders. "It looks like we're heading toward a crunch," says development consultant Chris Ollenberger, who had a role in planning East Village.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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