Calgary industrial development catching up to demand

While the level of leasing activity has slowed in the Calgary industrial real estate market, the sector continues to have one of the lowest vacancy rates in the country at 2.1 per cent.

9 condo towers, 6,000+ units proposed for T.O.

CKF Rail Development Ltd. Partnership, led by Craft Development Corp., has proposed nine condo towers in downtown Toronto. The Rail Deck District would see towers ranging from 20 to 65 storeys, with a total of 6,126 residential units.

AbCellera announces $701M expansion of Van. campus

Vancouver-headquartered biotech company AbCellera Biologics announced a new $700-million project on Wednesday that will add research and development capacity to a Vancouver-based manufacturing plant that has been in the works since 2020.

Star Building Materials announces $53M expansion of Alta.

Star Building Materials, a Qualico company, announced a $53-million investment to build three buildings on an 18-acre parcel of land immediately adjacent to the company's existing 12-acre facility in Balzac, just outside of Calgary.

XNRGY to double capacity of Mtl. manufacturing facility

XNRGY Climate Systems, a designer and manufacturer of energy-efficient commercial heating, ventilation, and air conditioning systems, announced financing to add an additional 100,000 square feet of production capacity to its manufacturing facility in Montreal.

Svante partners on cement CO2 capture, DAC materials

Svante has announced two new partnerships as it continues efforts to create a carbon-capture ecosystem. The first with Lafarge and Dimensional Energy on a cement carbon-capture trial, and the second an agreement with 3M on direct air capture (DAC) material.

OPINION: Canada's industrial policy stumbles in Windsor

Stellantis and LG Energy's move to halt construction of a $5-billion EV battery cell plant to demand more government money highlights the perils of Canada's focus on industrial policy to claim a share of green transition wealth.

‘Beds and sheds’ dominate Regina’s investments

Opportunities for out-of-province investors are abundant in Regina, especially in the ‘beds and sheds’ sectors of rental housing and industrial warehouses, said Mack Macdonald, an agent with Re/Max Crown Real Estate in Saskatchewan’s capital city. 

B.C. pub chain files for creditor protection

Freehouse Collective, one of B.C.’s highest-profile pub chains and better known as the Donnelly Group, has initiated proceedings under the Companies' Creditors Arrangement Act (CCAA) to revise the term of existing loans and restructure debt accrued during the pandemic.

Employers struggle in return-to-office efforts

Canadian employers are struggling to convince their people to work from the office but are overlooking a willingness from employees to return in a four-day working week, according to Returning for Good, a Unispace Global Workplace Insights report.

REIT first-quarter financial results

Canadian Net REIT, (NET-UN-X), Globe Newswire

Lanesborough REIT, (LRT-UN-X), Canada Newswire

Marwest Apartment REIT, (MAR-UN-X), Canada Newswire

Nexus Industrial REIT, (NXR-UN-T), Globe Newswire

Nova Net Lease REIT, (NNL-U-CN), Canada Newswire

Brookfield cedes defaulted L.A. office tower to receiver

Brookfield has handed over control of a second building this year in L.A. as the city's downtown faces rising vacancies and falling office values. EY Plaza, a 41-storey tower that opened in 1985, is being managed by a receiver.

$247M Blackstone hotel loan heading for foreclosure

A Boston hotel owned by Blackstone is reportedly heading for foreclosure after negotiation attempts around its delinquent $274 million CMBS loan backed by the 178-room Club Quarters Boston hotel and three other Blackstone-owned CQ hotels failed. 

U.S. office REITs plunge to a 2009 low

U.S. office REITS are trading at their lowest level since July 2009 as the trend toward remote work leaves desks empty and economic pressures tighten corporate budgets. The S&P Composite 1500 Office REITs index is down 27% in 2023.

Manulife, Landmark JV on 834-bed U.S. student housing

Manulife Investment Management and Athens, Ga.-headquartered Landmark Properties are partnering on their second project, The Mark Knoxville, which will open  in August 2025 and add 834 beds to the University of Tennessee housing market.

Mortgage refinances are disappearing

Mortgage refinances have fallen off a cliff. They’re down by 32 per cent, according to the latest data from the Canada Mortgage and Housing Corporation (CMHC). The question is why? There are three key reasons why they can’t.

Calgary seeing a multiresidential comeback

According to City of Calgary estimates, over the last year the city’s household formation rate jumped from 10.4 to 15.6. Because household formation is a key indicator of housing demand, Calgary's long-battered multiresidential market is on the way to recovery.

B.C. moves to mandate cooling in new housing

A proposed amendment to British Columbia’s building code would mandate cooling capability to maintain indoor temperature at no greater than 26 Celsius in all new residential construction. The new measure is more stringent than the 2020 national building code.

Burnaby launches next phase of community plan

This week, the City of Burnaby launched the “visioning” phase of its new Official Community Plan (OCP), which will guide the long-term vision for Burnaby’s transportation, infrastructure, parks, agriculture, arts and housing all the way through 2050.