Morguard buys new Ottawa office building for $64.5M

RENX  Commercial  •  Office  •  Ottawa

Morguard (MRC-T) has purchased one of Ottawa’s newest office properties for $64.5 million from Taggart Group of Companies. The five-storey, 170,000-square-foot building is fully leased by Ottawa-based supply chain logistics company Kinaxis.

Edmonton’s Enbridge Tower to be converted to rentals

Residential, Commercial  •  Edmonton Journal

The long-vacant 23-storey former Enbridge Tower office tower in downtown Edmonton is being converted to a 274-unit apartment building with studios and one-, two-, and three-bedroom suites with ground-floor commercial space. Construction is set to finish by March or April 2023.

$210M wallboard manufacturing plant coming to Alberta

Commercial  •  CBC  •  Calgary Herald  •  Canada Newswire

Construction of a $210-million wallboard manufacturing plant in Wheatland County east of Calgary is expected to begin next year, resulting in more than 100 manufacturing jobs upon completion. CGC, the Canadian division of the Chicago-based USG Corp., made the announcement Thursday.

The Apartment Building Expert › Canada – It’s time to build more apartments!

Derek Lobo: Founder and CEO , SVN Rock Advisors Inc.

Toronto’s Rogers Centre is getting a $300M reno

Commercial  •  CTV  •  CBC  •  Globe and Mail (Sub. required)

For the first time in 33 years, the home of the Toronto Blue Jays will undergo a massive $300-million renovation that will see the city’s stadium transformed into a world-class ballpark.

Menkes, QuadReal’s Mobilio tops off in Vaughan

Residential, Commercial  •  Urban Toronto

In Vaughan Metropolitan Centre, the final structure atop the high-rise portion of Menkes Developments and QuadReal Property Group‘s Mobilio recently completed. The three Turner Fleischer Architects-designed condominium buildings have all officially reached their final heights of 18, 15, and 13 storeys.

SOFIAC to bring $185M retrofit program across Canada

Residential, Commercial  •  Sustainable Biz Canada

A Quebec-based energy efficiency program named SOFIAC is expanding access across Canada, opening up $185 million in capital for low-carbon commercial, industrial and multiresidential building retrofits

RENX vacation week August 1-5

RENX  Residential, Commercial  •  Human Resources  •  National

TO OUR VALUED READERS: RENX staff will be breaking for a vacation during the week of August 1-5.

Victoria International Airport getting a hotel

Commercial  •  Victoria Times Colonist

Mississauga developer Kothari Group plans to bring a three-storey, extended-stay hotel to the Victoria International Airport. The hotel, with 129 units, will be built on land previously targeted by developer Omicron for the proposed $35-million Sidney Crossing shopping centre.

Winnipeg’s newest hotel opening soon on urban reserve

Commercial  •  Winnipeg Free Press

Winnipeg’s newest hotel, The Wyndham Garden Winnipeg Airport, is just about ready for guests. The 132-room hotel owned by and located on the Long Plain Madison Reserve — near Polo Park shopping centre — will include 5,800 square feet of flexible meeting space.

Non-food sales down at Loblaw

Commercial  •  CBC  •  Financial Post  •  Canada Newswire

Loblaw Companies Ltd., (L-T) sales growth is softening as inflation continues to grip the economy and shape consumer shopping habits, the company’s president and chairman Galen Weston said Wednesday.

Real estate podcasts

Residential, Commercial  • 

Drago Farsang, Wyse Meter Solutions: PropTech meets ESG, CRE Podcast
Bob Knakal, JLL: NYC CRE titan shares his insights, Tenant Experience Network
Arjun Rao, Yardi: Tech enhancing real estate, CRE Podcast

Calgary votes to greenlight 5 new communities

Residential  •  CBC

City council has approved proposals that will see new developments popping up on Calgary’s outskirts. Council voted to approve up to eight new suburbs, five of which can proceed right away as they don’t carry any new capital costs.

West Island densification projects pile up

Residential, Commercial  •  Montreal Gazette

The arrival of Réseau express métropolitain stations in Montreal will continue to promote residential densification near the six stops that will eventually serve West Islanders, on top of the station at Trudeau airport.

Why is Vancouver so secretive about F.N. development?

Residential, Commercial  •  Vancouver Sun  •  RENX

OPINION: With bulldozers moving in and roadways being prepared on park grass, Kitsilano residents near the Senakw project say the city is proceeding behind a cloud of confidentiality.

Saguenay provides best value in Canada for real estate

Residential  •  Financial Post

The Saguenay, Que., region tops the list for most affordable housing, with an average home price of $267,353 and annual price growth of 6.6 per cent from last June, according to  Zoocasa Realty Inc., which analyzed 25 regional housing markets.

GID acquires 1.39M-sq.-ft. industrial portfolios

Commercial  •  PR Newswire

Atlanta-headquartered GID Industrial announced today it has acquired two industrial portfolios located in the I-95 Baltimore-Washington Corridor and North Las Vegas markets, adding 1.39 million square feet and 14 buildings to the firm’s portfolio.

U.S. needs 4.3 million more apartments by 2035

Residential  •  PR Newswire  •  Winnipeg Free Press  •  Bloomberg

Amidst demographic shifts and lingering pandemic-impacts on the population and broader economy, the U.S. needs to build 4.3 million new apartments by 2035, according to a new study commissioned by the National Apartment Association and the National Multifamily Housing Council.

Greater China REIT sector on the rise

Residential, Commercial  •  Mingtiandi

More REITs are likely to be listed in mainland China and Hong Kong over the near term as policy support drives interest and growing investor awareness sparks demand, industry leaders told MTD TV on Tuesday.

Saudi Arabia plans 100-mile mirrored skyscraper megacity

Residential  •  The Guardian  •  NPR  •  Daily Hive

The promotional material for Saudi Arabia’s the Line is striking: two mirror-encased skyscrapers stretching more than 100 miles across a swathe of desert and mountain terrain, providing a future home for nine million people.