McMaster Innovation Park wants more residential dev.

RENX  Residential, Commercial  •  Apartments  •  Ontario

A multi-residential housing component was always planned for the McMaster Innovation Park (MIP) in Hamilton, but now its developer wants more – to allow 524 apartments and three towers.

Mississauga mall for sale in emerging dev. corridor

RENX  Commercial  •  Retail, Land  •  Toronto / GTA

A Mississauga property which has housed a community shopping centre for over a half century is for sale, likely to become a multi-tower redevelopment site. High Point Mall sits on a 4.41-acre property at Dixie Road and Bloor Street.

Nokia plans two-tower Ottawa office campus

Residential, Commercial  •  Ottawa Citizen

Tech infrastructure giant Nokia is seeking city permission to build a major new campus in Ottawa’s Kanata suburb. The proposed 500,000-square-foot office and laboratory complex would include a base of retail and commercial stores, topped by two office towers.

‘Insatiable demand’: Hopewell plans Winnipeg spec ind.

Commercial  •  Western Investor

Build it and they will come is the guiding principle of industrial developers in Winnipeg. However, there’s little suitable land available for development, said Paul Kornelsen, vice-president and managing director for brokerage CBRE Ltd. in Winnipeg.

STACK, First Gulf propose Scarborough data centre

Commercial  •  Urban Toronto

STACK Infrastructure and First Gulf have proposed a data centre on the 19-acre site at 3650 Danforth Ave. in Scarborough. The WZMH Architects-designed two-storey building would have a total of 56 megawatts of available computing power with leads to three local substations.

Aurora Cannabis to close three facilities

Commercial  •  CBC

With a $1-billion loss in its most recent quarter, Aurora Cannabis Inc. (ACB-T) announced plans Thursday to close three facilities — the Sky facility in Edmonton and Aurora Anandia and Whistler Alpha Lake in B.C. — and cope with pricing pressures.

N.H.D. proposes three towers, 1,621 condo units

Residential  •  Urban Toronto

N.H.D. Developments Ltd. has proposed three towers with heights of 35 through 45 storeys at 4001 Steeles Ave. W. in Toronto’s Black Creek neighbourhood. The Graziani + Corazza Architects-designed towers would add 1,621 new condominium suites.

Pinnacle plan for B.C.’s tallest condo tower proceeds

Residential  •  Western Investor

A plan by Pinnacle International to build B.C.’s tallest building next to Lougheed Town Centre SkyTrain station has passed first reading. Burnaby city council moved Phase 1 of the 80-storey project through first reading.

Capital Developments plans 69-storey stacked tower

Residential  •  Urban Toronto

Capital Developments is proposing a stacked, 69-storey tower atop a base of heritage buildings at 90 Isabella St. in Toronto’s Church-Wellesley neighbourhood. The condo would be designed by Diamond Schmitt Architects, which is also designing the proposed 62-storey 88 Isabella.

The Saskatchewan Edge › Can a grocery store work in an area with too few residents?

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Royal B.C. Museum to be replaced for $789M

Commercial  •  CBC  •  Victoria Times Colonist  •  Burnaby Now

The Royal B.C. Museum in Victoria is getting a $789-million rebuild that will take over seven years to complete. The provincial landmark is set to close in September, with the new facility scheduled to open its doors in 2030.

REOC financial results

Residential, Commercial  • 

Brookfield Asset Management (BAM-A-T), Globe Newswire
Dream Unlimited Corp., (DRM-T), Business Wire
Invesque Inc. (IVQ.UN-T), Canada Newswire
Mainstreet Equity Corporation (MEQ-T), Canada Newswire
Melcor Development Ltd. (MRD-T), Globe Newswire
Sienna Senior Living Inc., (SIA-T), Globe Newswire
Skyline Investments Inc., (SKLN-TA), Globe Newswire
Tricon Residential, (TCN-T), Canada Newswire

​Oxford, Novaxia launch $1.4B French life sciences JV

Commercial  •  biz.crast.net  •  IPE Real Assets

Oxford Properties Group and French developer Novaxia have partnered to invest in the development of life sciences in France. Novaxia will act with Oxford as development manager and co-asset management, with a partnership targeting an investment of approximately $1.4 billion.

Duke Realty rebuffs Prologis’ $24B bid

Commercial  •  Bloomberg

U.S. warehouse landlord Duke Realty Corp. responded to a $24 billion takeover offer by Prologis Inc., saying the all-stock proposal is “insufficient.” Prologis valued Duke at $61.68 a share, a 29% premium to the company’s closing price on May 9.

IKEA to invest about $4B in new, existing stores

Commercial  •  Chain Store Age

Ingka Group, the largest IKEA retailer, said it will invest $4 billion in new and existing stores by the end of next year. The investments will cover all 32 of Ingka’s markets, including the U.S., Canada and the United Kingdom.

McDonald’s to sell its Russian business over invasion

Commercial  •  Globe and Mail  •  PR Newswire  •  Globe and Mail (Sub. required)

McDonald’s (MCD-N) said Monday it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people, making it the latest major Western corporation to exit Russia since it invaded Ukraine in February.

Home prices fall for first time in two years: CREA

Residential  •  Financial Post  •  Canada Newswire  •  CTV

Canadian home prices fell for the first time in two years as a rapid rise in interest rates looks set to threaten one of the world’s hottest housing markets, according to statistics released today by the Canadian Real Estate Association.

Housing starts trend higher in April: CMHC

Residential  •  Toronto Star  •  Canada Newswire

Canada Mortgage and Housing Corporation says the annual pace of new home construction in April rose eight per cent month-over-month. The housing agency says the seasonally adjusted annual rate of housing starts in April was 267,330 units, up from 248,389 in March.

Higher interest rates won’t ‘cure’ housing market: CIBC

Residential  •  Daily Hive

In a bulletin this week, CIBC states the Bank of Canada’s rate hikes to date and expected additional hikes through the end of 2022 will only “ease the symptoms” of the hot real estate market for a short period of time.

GTA homebuyers increasingly backing out of deals

Residential  •  Toronto Storeys

GTA real estate professionals are reporting noticeably higher rates of buyers backing out of deals months after having their offers accepted and deposits submitted. Sellers are forced to relist in a cooler market where their home will sell for less.