Greening federal gov’t portfolio offers CRE ‘opportunity’

RENX  Commercial  •  Office  •  National, Ottawa

The ongoing pandemic, a quest to green its real estate footprint, and a portfolio of buildings nearing the end of their useful lifespans will lead to a major transformation of the federal government’s real estate footprint.

PC Urban, Fiera JV on Victoria multires development

RENX  Residential  •  Apartments  •  British Columbia

PC Urban, a Vancouver-based real estate development and investment company specializing in British Columbia and Alberta commercial and residential properties, is currently focusing on the ever-growing demand for purpose-built residential rental units.

Claridge proposes 60-storey mixed-use in Ottawa

Residential, Commercial  •  Ottawa Business Journal

Claridge Homes, already the builder of Ottawa’s tallest high-rise, is upping the ante with its latest development proposal. The 60-storey, 459-unit Hariri Pontarini Architects-designed tower in Little Italy would soar more than 131 feet above the current record-holder.

Calgary seeks solution to downtown office crisis

Commercial  •  Globe and Mail  •  Globe and Mail  •  RENX

Calgary has an outsized downtown core for a city of 1.3 million, with double Toronto’s downtown office space per capita. When the price of oil falls, companies lay off staff or go out of business, leaving empty desks behind.

Arlington leading remake of Calgary’s ‘Red Mile’

Residential, Commercial  •  Western Investor  •  RENX

Calgary-based Arlington Street Investments, founded by president and CEO Frank Lonardelli, is currently completing the third of seven major developments planned for 17th Avenue, including the first purpose-built rental units in the area in 25 years.

The Long View › Signs point to CRE revival in downtown Toronto

Richard Crenian: President, ReDev Properties

TOD key to Metro Vancouver’s new long-term plan

Residential, Commercial  •  Daily Hive

The draft plan for Metro Vancouver Regional District’s new Metro 2050 puts a much greater emphasis on transit-oriented development for the future, as both a measure to help address housing affordability and to keep urban development relatively compact, reducing urban sprawl.

3D model brings $1.2B Wpg. development to life

Residential, Commercial  •  CBC

The seven Treaty One First Nations developing Winnipeg’s former Kapyong Barracks site have unveiled a three-dimensional model of the future $1.2 billion project. The Naawi-Oodena development could have as many as 3,000 residences and over a million square feet of commercial space.

Arup’s Circular Building tests reusable materials concept

Commercial  •  Sustainable Biz Canada

Arup’s Circular Building was designed to create and test circular solutions for the built environment. Arup director and structural engineer Stuart Smith discussed the project at Sustainable Buildings Canada (SBC)’s Green Building Festival.

Ottawa’s new main library $131M over budget

Commercial  •  CBC  •  Ottawa Citizen  •  CTV

The price tag for Ottawa’s new central library has shot up $131 million — an increase of almost 75 per cent — to $306 million, leaving the city on the hook for an additional $65 million, according to a report released Thursday.

First Capital opposes celebrity chef’s CCAA restructuring

Commercial  •  Globe and Mail (Sub. required)

First Capital Holdings, the landlord of celebrity chef Mark McEwan’s gourmet grocery location at Yonge and Bloor Streets, is opposing his company’s restructuring plans to transfer most of the business to a new company held by the same owners.

Real estate podcasts

Residential, Commercial  • 

Alain Miguelez, City of Ottawa: Should all Canadian cities be 15-minute cities?, City Space
Paul Kershaw, University of British Columbia: Canada addicted to rising home prices, Down to Business, Episode 121
Jeff Davenport, Davenport Consulting and Gary Newbury, RetailAID.ca: The future of shopping centre anchor spaces, The Interview Series

Lee Valley Tools, IKEA warn of supply delays

Commercial  •  Ottawa Citizen  •  CBC  •  CTV

CEO Robin Lee says Ottawa-based Lee Valley Tools is facing unprecedented backlogs as transportation costs soar and international shipping delays mount. “To bring in a container from Asia that used to cost $7,000 now costs $34,000. . . ,” Lee said.

Pattison Food Group acquires U.S. chain

Commercial  •  Canadian Grocer

The Pattison Food Group is expanding outside Canada, acquiring Oregon-based Roth’s Fresh Markets. Pattison said the nine-store chain would maintain its name and operating structure while “leveraging synergies and other opportunities for business growth provided by the Pattison Food Group.”

Chinese developer Xinyuan avoids default

Residential, Commercial  •  Globe and Mail (Sub. required)  •  CNBC

Chinese real estate developer Xinyuan Real Estate Co. avoided a default on a maturing dollar bond on Friday, as home builders struggled with the spreading impact of a crisis at China Evergrande Group, the world’s most indebted developer.

Swiss bank UBS warns of T.O., Van. housing bubbles

Residential  •  CBC  •  Toronto Storeys  •  blogTO

Major Swiss bank UBS is warning Toronto and Vancouver are home to two of the worst housing bubbles in the world. The UBS Global Real Estate Bubble Index 2021 examines the housing markets in 24 major global cities.

Canadian home buyers pile into variable loans

Residential  •  Financial Post  •  Globe and Mail (Sub. required)

A recent move by major Canadian banks to increase fixed mortgage rates is unlikely to slow the country’s red hot housing market, as more than half of new borrowers take out variable-rate loans that are the cheapest they’ve ever been.

Bank of Mom and Dad key for first-time homebuyers

Residential  •  Globe and Mail (Sub. required)  •  Business In Vancouver

Almost one in five first-time home buyers is getting financial help from parents, and the average amount of that help is $150,000, according to the Canadian Imperial Bank of Commerce client database. Increasingly, housing is a well-off family’s game.

Royal LePage forecasts 16% bump in home prices

Residential  •  Toronto Star  •  Canada Newswire  •  CTV

In this year’s fourth quarter, Royal LePage is doubling down on its forecast of a 16 per cent annual increase on home prices. This is despite renewed warnings this week of global market crashes, including in real estate.

Home sales post first M-O-M increase since March

Residential  •  Winnipeg Free Press  •  Canada Newswire

The Canadian Real Estate Association says home sales in September were up 0.9 per cent, the first month-over-month increase since March. The association says home sales in September were up 0.9 per cent compared with August. Sales were down 17.5 per cent, year-over-year.