Inflation could be short-term problem: Benjamin Tal

RENX  Residential, Commercial  •  Investment  •  National

Economist Benjamin Tal began his Vancouver Real Estate Forum presentation by saying the Cold War is back, the COVID battle continues, inflation’s at a 40-year high and rising, interest rates are projected to rise at a rate not seen since 1994. . .

Evertrust buys final dev. site on Edmonton Muttart land

RENX  Residential  •  Condominiums  •  Edmonton

Evertrust Development Group has purchased the final development site available in Edmonton’s Muttart Urban District, a 1.41-acre property where it plans to build up to 366 residential units in a 32-storey tower.

Queen’s Park approves TODs comprising 67 high-rises

Residential  •  CBC

The Ontario government is being criticized over its approval late Thursday of two Ministerial Zoning Orders for transit-oriented developments consisting of 67 high-rises and 40,000 residential units – High Tech TOC in Richmond Hill and an adjacent development in Markham.

Cantana seeks OK for 27-building Calgary mixed-use

Residential, Commercial  •  Calgary Herald

Cantana Investments is seeking City of Calgary approval for Midtown Station, which would comprise 27 buildings ranging in height from three to 42 storeys with a mix of residential, office, hotel, retail, restaurant, fitness, professional and other commercial uses, employing about 2,000.

Surrey rejects dev. policy to increase office space

Commercial  •  Surrey Now-Leader

Surrey council has defeated a proposed policy aimed at bolstering development of office space in the downtown core after developers including Wesgroup Properties, and a local Colliers International representative warned against saturating the market.

The Saskatchewan Edge › Face your fear and do it!

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

Tenblock proposes 54-, 59-storey towers

Residential  •  Urban Toronto

Tenblock has proposed to build 54- and 59-storey towers in addition to a public park at 25 St Mary St. in downtown Toronto. The proposed towers, which would be connected by a shared four- and eight-storey podium, would include 1,143 new residential units.

Ottawa committee OKs 942-home Caivan subdivision

Residential  •  CBC

Developer Caivan Communities received approval from Ottawa’s planning committee Thursday for a new subdivision, but only after councillors scrutinized the possible ramifications of building on what used to be a flood plain. Caivan intends 942 new houses on 165 acres.

Concord Pacific pushes unique strata rules in B.C.

Residential  •  Globe and Mail

Concord Pacific has entered new territory in the world of Vancouver condos, creating a penthouse in a separate air-space parcel from the rest of the building which will put it outside the control of other strata owners, rules and fees.

NexLiving acquires 58-suite Ontario building for $13.4M

Residential  •  Canada Newswire  •  RENX

NexLiving Communities Inc. (NXLV-X) announced it has acquired a six-storey 58-suite building at 35 Angeline St. S. in Lindsay, Ont., for $13.4 million. The acquisition will be financed with a combination of cash on hand and $10.1 million of new short-term debt.

Starlight acquires 90% stake in Phoenix multires

Residential  •  Canada Newswire

Starlight U.S. Residential Fund (SURF-A-X) is acquiring a 90 per cent interest in The Ventura, a 272-suite class-A  institutional quality multifamily property completed in 1995 and located in the Chandler submarket of Phoenix. The cost is approximately US$130.7 million.

REOC year-end financial results

Residential, Commercial  • 

NexLiving Communities Inc., (NXLV-X), Canada Newswire
NexPoint Hospitality Trust, (NHT-U-X), Canada Newswire

Why cities need to protect industrial lands: OPINION

Commercial  •  CBC

Land reserved by local governments for large and loud businesses such as factories, warehouses and breweries are increasingly being redeveloped for housing in cities across North America. This is such a common occurrence some have described it as a crisis.

U of A looking to get rid of Humanities building

Commercial  •  CBC

Due to provincial cuts, Edmonton-based University of Alberta intends to get rid of the 50-year-old Humanities Centre. Removing the building from the inventory could entail leasing the property and reinvesting the funds, closing the building temporarily or demolishing the structure.

Ottawa’s new official plan delayed by housing bill

Residential, Commercial  •  CBC

The City of Ottawa spent several years working on a new official plan to guide how it grows and what buildings can go up where, but it does not expect final approval from Queen’s Park until after the June election.

Low-density Van. neighbourhoods not in dev. plans

Residential  •  Globe and Mail (Sub. required)

Questions are rising as to why the City of Vancouver plans to add significant density to areas that are already rich with rental housing, much of it affordable, while low-density areas of the west side are left untouched.

Housing market slowing rapidly: Realosophy Realty

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

VIDEO: Realosophy Realty president John Pasalis talks with Financial Post’s Larysa Harapyn about how the housing marking is slowing rapidly amid interest rate hikes.

Vancouver mayor proposes Empty Homes Tax hike

Residential  •  CTV

Vancouver Mayor Kennedy Stewart has proposed another hike to the city’s Empty Homes Tax. The mayor is putting forward a motion to increase the levy to five per cent of a home’s assessed value, while doubling the number of audits.

Peel Region considering vacant home tax

Residential  •  CP 24  •  Global News

A vacant home tax similar to one already in effect in Toronto could soon be introduced in at least one neighbouring municipality. The Region of Peel has launched an online survey to solicit public input on a new tax.

Feds’ crackdown on real-estate investors won’t work

Residential  •  Vancouver Sun  •  Globe and Mail  •  Toronto Storeys

OPINION: The federal government snagged the headlines it wanted last week when it was widely reported the budget would impose a temporary ban on foreign investors snapping up more of Canada’s over-priced real-estate. It won’t work for several reasons.