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ERES REIT to undergo a strategic review
ERES REIT to undergo a strategic review
Just two months after announcing the departure of its chief executive officer, management of Toronto-based European Residential Real Estate Investment Trust (ERES) (ERE-UN-T) has announced a strategic review of the business.
PCL signs major new lease at Crown Ottawa office building
Crown Realty Partners has scored a major leasing deal for one of its recently acquired suburban Ottawa assets, signing PCL Construction to a 40,000-square-foot lease at its two-building 3755 Riverside Dr., property.
Costco plans fourth Winnipeg warehouse: Report
After years of speculation, a new Costco warehouse is being planned for the western edge of Winnipeg, a city report reveals. A 166,843-square-foot building is proposed for 4077 Portage Ave., in the Assiniboia Downs area.
T.O. approves Republic's 39-storey condo building
Toronto City Council has accepted Republic Developments' revised plan for a single 39-storey mixed-use condominium building at 45 The Esplanade, replacing the nine-storey Novotel Hotel. The Arcadis-designed tower will include 726 residential units.
Levies threaten viability of rental projects: Chard
The 575-unit Cascades, one of Vancouver’s largest-ever rental projects, broke ground June 15, but the scale of the project would be impossible today with recent increases in development levies, said Byron Chard, president and CEO of Chard Development Ltd.
Calgary climbing global tech startup rankings
Calgary has cracked Startup Genome’s Global Startup System Report top 100 for the first time and took a jump in its emerging market rankings. Startup Genome is a global policy and research organization geared toward boosting the startup ecosystem.
Commercial tenants begin occupying Mirvish Village
A number of Mirvish Village commercial tenants have officially opened at Westbank Corp. and Peterson's multi-building complex. The Diamond Schmitt Architects/Henriquez Partners Architects-designed complex at 581 Bloor St. W. could begin residential occupancy as early as this summer.
North Van. kick-starts Capilano Mall makeover plan
City of North Vancouver council voted unanimously to begin processing QuadReal Property Group’s pre-application to amend the official community plan for an overhaul of Capilano Mall, the largest development site in North Vancouver at 16.5 acres.
DAVIDsTEA expands Tea Bar to Toronto
Montreal-headquartered DAVIDsTEA Inc. (DTEA-X) opened its first in-store Tea Bar outside of the Quebec market with a CF Toronto Eaton Centre store. Additional locations will open in Ottawa's Rideau Centre and in Vancouver's Pacific Centre in 2023.
Niagara Falls' Fallsview Casino Resort expands
Fallsview Casino Resort in Niagara Falls has added a new entertainment venue, finalized plans for a state-of-the-art sports bar & lounge, is looking to fill in retail vacancies, and will be welcoming Hazukido this summer.
HOOPP honours green leaders in 2023 LEAP Awards
The Healthcare of Ontario Pension Plan (HOOPP) celebrated its 12th annual LEAP Awards, singling out sustainability efforts in its real estate portfolio by giving out 11 distinctions in 10 categories. Winners include Triovest Realty Advisors Inc. and Morguard Corp.
Real estate podcasts
Mike Czestochowski, CBRE: Land in 2023, CRE Podcast
Eric Carlson, Anthem Properties: Complete dysfunction in housing policy, CRE Library
Jon Love, KingSett Capital: Adapting assets to a new world, CRE Podcast
U.S. office ‘bloodbath’ nears with banks in retreat: Caisse
A reckoning is coming for lower-quality office buildings over the next few years, and it will be made worse by tightening credit at U.S. regional banks, says Charles Emond, chief executive officer of Caisse de dépôt et placement du Québec.
CF, Gateway Capital acquire Aussie business park for $277M
Cadillac Fairview and Gateway Capital's Gateway Capital Urban Logistics Partnership have acquired Melbourne's Axxess Corporate Park from Dexus for $277 million Cdn. The site spans 386,112 square feet across 14 industrial units and 480,555 square feet across 11 offices.
Amazon debuts headquarters complex in Virginia
Amazon unveiled the first phase of its new headquarters complex in Virginia Thursday, a pair of gleaming, amenity-packed office towers its leaders hope will persuade employees accustomed to working from home during the pandemic to happily return to the office.
Twitter evicted from Colorado office over unpaid rent
Under a barrage of lawsuits over nonpayment of office rent in the U.S. and U.K., Twitter is being evicted from an office in Boulder, Colo. A judge ordered the sheriff to remove Twitter from The John Buck Co.-owned building.
Wildfires expected to make home insurance more expensive
The wildfires in Alberta, Quebec, Ontario and Nova Scotia are expected to contribute to higher home insurance prices across the country. Last year, weather events accounted for $3.1 billion of insured losses – up from $40 million in 2008.
Canadians opting for shorter mortgage terms
Samantha Brookes, Mortgages of Canada CEO, says that before the Bank of Canada started raising interest rates last year, a five-year term was the norm, but people are now going shorter in hopes interest rates will come back down.
Still plenty of housing demand, few listings: CREA
VIDEO: Shaun Cathcart, senior economist at the Canadian Real Estate Association CREA, says there’s still a lot of demand out there, and not enough supply, and that situation is unlikely to change soon.
Long-term Airbnb guests not covered under Ont. tenant law
The Ontario Landlord and Tenant Board (LTB) has ruled that a Swiss family staying as long-term guests in a Toronto Airbnb do not qualify as tenants, in a decision that could have implications for similar arrangements across the province.
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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