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Crombie invests $112M; revitalizes Avalon Mall
Crombie invests $112M; revitalizes Avalon Mall
Crombie REIT’s (CRR-UN-T) decision to spend about $112 million to redevelop the Avalon Mall in St. John’s, N.L. is continuing to attract major new retailers to the facility and the region. Six new retailers will open during 2020, including The Brick.
CRE optimism remains, despite uncertain times
Real estate continues to create value with less volatility than the stock and bond markets, and Canada’s relative stability should keep the money coming. That was the general consensus of participants during a panel at RealCapital in Toronto.
Squamish to chart own path to development
When the Squamish Nation announced its ambitious plan to add 11 residential towers to the south end of Burrard Bridge, adding 6,000 extra units of housing to the area, more than a few eyebrows were raised. Westbank is now a partner.
CF Fairview Pointe-Claire project well underway
• Retail Insider • RENX
The CF Fairview Pointe-Claire shopping centre on the West Island directly west of downtown Montreal is under renovation with an investment of about $30 million including the addition of retailer Simons in the old Sears space.
Saskatoon’s River Landing office space fills up
• Saskatoon StarPhoenix • RENX
EY Canada, the first of five major companies committed to downtown Saskatoon’s $300-million River Landing megaproject, moved into the 13-storey east tower in January, with two more to follow before the end of 2020, according to the consortium behind it.
After 85 years, Tridel still looks to the future
Tridel celebrated 85 years in the construction business in 2019, and while a lot has changed over that time, some things have also stayed the same. The company was started in 1934 by Jack DelZotto, an Italian stonemason who immigrated to Canada in 1927.
Cities need redesign to accommodate e-commerce
OPINION: In 2012, Canada Post left 153 million parcels on doorsteps. By 2018, that number had almost doubled to 296 million. With e-commerce sales projected to increase another 40 per cent in the next five years, there will be more delivery trucks on the road.
$240M payout approved over Mohawk land claim
• CBC
The federal cabinet has approved an agreement that will see Canada pay nearly $240 million in compensation to the Mohawks of Akwesasne to settle a land claim. The agreement is the result of decades of negotiations over 19,000 acres in Quebec.
Proposed Sidewalks Labs ‘raincoats’ rejected
Google sister firm Sidewalk Labs was part of a team that created a prototype of a “raincoat” — an adjustable awning or “second skin” that extends from a building and was touted as the answer to inhospitable weather on Toronto’s waterfront.
Iconic Toronto restaurant receives $2M facelift
An hour before lunch started on Tuesday, the managers at Canoe — the storied Toronto restaurant that was reopening after two months following a $2 million major renovation — gathered the servers and started testing them at random.
Rent, taxes to close iconic Vancouver restaurant
One of Vancouver’s most successful restaurateurs – who pioneered the concept of a contemporary British Columbian cuisine, groomed countless industry leaders and set a benchmark for fine dining – says he is retiring, a victim of skyrocketing rents and property taxes.
The luxuries and limits of restaurant design
• Globe and Mail (Sub. required)
How do you serve up a power lunch spot that’s relevant for 2020? With a balance of bold strokes and subtle gestures, says Alex Cochrane, the London-based architect tasked with reimagining the Holts Café at the retailer’s flagship store in Toronto.
T.O. tech conference Collision cancelled due to virus
• Globe and Mail (Sub. required)
Massive Toronto technology conference Collision has been cancelled for 2020, joining the ranks of other gatherings and conventions worldwide facing cancellation over fears of spreading the new coronavirus. The conference was scheduled for June. More than 25,000 people attended last year.
Amid the chaos, CRE investment stands tall
Amid the growing coronavirus epidemic, a plunging stock market and the foggy outlook of life after Brexit, there’s a diamond in the rough that is global CRE investment in 2020, plowing along and driven by macro trends emerging amid the ruckus.
As coronavirus spreads, RE dealmaking slows
• Bisnow
As the world grapples with implications of the fast-spreading coronavirus, some real estate players are facing the reality of deals being held up by quarantine measures, travel restrictions and the deep sense of uncertainty permeating the market.
Amazon claims it’s fighting against soaring prices
• Les Affaires • Reuters
Amazon said Thursday it was fighting the swelling prices of certain products sold on its platform, supposed to protect against the coronavirus, after receiving a letter from Massachusetts Democratic Senator Ed Markey.
Condo owners face bankruptcies as insurance costs soar
• Business In Vancouver • Abbotsford News • CityNews
Uninsured condo owners could find themselves bankrupt and homeless if they don’t maintain their suites and personal insurance as strata insurance costs skyrocket, said the Condominium Home Owners’ Association of B.C.
P.E.I. insurance firm sets rules for cannabis growers
• CBC
P.E.I. Mutual Insurance Company informed policyholders last month that it will refuse coverage for any building and its contents where cannabis is being cultivated, unless the company can ensure it is being grown in a safe manner.
New guidebook for Calgary planning prompts concern
• Global News • Calgary Herald
The 147-page Guidebook for Great Communities is a planning initiative the city of Calgary is hoping will set the groundwork for development in existing communities.
More for developers, less for residents: Editorial
Ontario is usurping the right of municipalities to decide how to collect funds from developers to pay for the costs that come with new development from roads, transit and sewers to libraries, community centres and parks.
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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