Tridel, TCHC apply for 1,000 more homes at Regent Park

RENX  Residential, Commercial  •  Toronto / GTA

Tridel Builders Inc. and Toronto Community Housing have submitted a rezoning request to increase the density of the final two phases of the Regent Park redevelopment to allow for about 1,000 more housing units, additional public facilities and open spaces.

Dev. JVs offer local knowledge, funding, shared risk

RENX  Residential, Commercial  •  Investment  •  National

Institutional investors are increasingly moving into the development space in the Vancouver region and are partnering with local developers to make it happen, according to a panel discussion at the Vancouver Real Estate Forum on April 12.

IMCO on the hunt for real estate, infrastructure

Residential, Commercial  •  Financial Post  •  Canada Newswire

Investment Management Corp. of Ontario (IMCO) – Ontario’s pension fund for government workers – is seeking out more deals in infrastructure and real estate as it prepares for a protracted period of high inflation, according to chief investment officer Rossitsa Stoyanova.

Wesgroup’s 2,600-home project facing cancellation

Residential, Commercial  •  Daily Hive  •  RENX

Wesgroup Properties claims its 14.8-acre Coronation Park TOD faces cancellation and it blames Port Moody city council, saying it “continues to move goalposts and force delays.” The latest proposal calls for five towers of between 26 and 31 stories and 2,665 residential units.

Edmonton approves Limak’s 45-storey mixed-use

Commercial  •  CBC

Edmonton city council has approved an application by Stantec and Limak Investments to build a 40- to 45-storey tower in the middle of the 111-year-old Horne & Pitfield warehouse building. The mixed-use tower will include commercial space, a hotel and apartments.

A sneak peak at KING Toronto mixed-use building

Residential, Commercial  •  Daily Hive

KING Toronto on 489 King Street West is a mixed-use building currently under construction, and its design is reminiscent of lush rolling valleys. The 16-storey Allied Properties REIT/Westbank Corp. project is designed by Bjarke Ingels Group.

CRE Matters › Calgary’s industrial market is showing serious strength

Adam Grisack: Director, Valuation & Advisory Services, Colliers Canada

Cost of Van. industrial leasing rates could double

Commercial  •  Financial Post

Murray Mullen, CEO of one of Canada’s largest trucking and logistics firms, Mullen Group Ltd. (MTL-T), said companies that are renewing industrial leases in Vancouver will, in some cases, be paying double what they were before.

Amazon delivery station coming to Windsor

Commercial  •  CTV  •  RENX

The former home of a Chrysler truck-making facility in Windsor is getting new life as an Amazon Canada delivery station. The “DLC8” station will be built on 27 acres of land and is expected to begin operations in 2024.

Montreal’s port has a supply-chain pitch

Commercial  •  Financial Post

Martin Imbleau, CEO at the Montreal Port Authority, said the ability to dock and load efficiently is luring new clients even though doing so requires traveling the length of the St. Lawrence River, 1,000 kilometres inland from the Atlantic Ocean.

Metro warns inflation could soon eat into profits

Commercial  •  Financial Post  •  Globe and Mail (Sub. required)  •  Toronto Star

Metro Inc. (MRU-T) reported quarterly profits of $198 million on sales of $4.3 billion, though the grocer warned surging inflation could start eating into its margins. Canada’s third-largest grocer made gains in its food and drug-store businesses despite the latest Omicron wave.

Rising mortgage rates crushed Richilieu shares

Commercial  •  Globe and Mail (Sub. required)

Investor sentiment has turned against Richelieu Hardware Ltd. (RCH-T) in a big way over the past couple of months, reducing a darling stock of the pandemic to an early casualty of housing market pessimism.

BGO acquires San Diego industrial portfolio

Commercial  •  Commercial Property Executive

BentallGreenOak has added seven properties in northern San Diego to its industrial portfolio in California. Cushman & Wakefield brokered the sale, representing the undisclosed seller who sold the portfolio to BentallGreenOak for an undisclosed price.

Blackstone to acquire PS Business Parks for $7.6B

Commercial  •  Yahoo Finance  •  Business Wire  •  Financial Times

Blackstone Inc. (BX-N) has agreed to acquire Glendale, Calif.-based PS Business Parks Inc. (PSB-N) for about $7.6 billion, expanding its bets on real estate across the U.S. The price is roughly a 12 per cent premium to PSB’s closing price on Friday.

Amazon’s Northern Virginia HQ2 plans approved

Commercial  •  Morning Brew

Arlington County lawmakers unanimously approved Amazon’s plan for part of its new HQ2 in Pentagon City Saturday. The centrepiece is a glass Helix, while there will also be a child-care facility, 2.75 acres of open space, retail and three office buildings.

China lets banks ease financing to developers

Residential, Commercial  •  Globe and Mail

China’s central bank stepped up its support for several distressed developers by allowing banks and bad-debt managers to loosen restrictions on some loans to ease a cash crunch, according to people familiar with the matter.

New GTA home sales drop for first time in six months

Residential  •  Toronto Star  •  Globe Newswire  •  Toronto Star

March sales of new GTA single-family homes and condominiums decreased for the first time in six months after the Bank of Canada hiked interest rates, the Building Industry and Land Development Association (BILD) reported Monday.

Government steps in to advance B.C. housing starts

Residential  •  Western Investor

Developers should expect stronger moves by senior levels of government to set housing targets for municipalities, now that housing supply – not speculation – is seen as the major barrier to meeting demand, said Jon Stovell, president and CEO of Reliance Properties.

Studios for rent in B.C., Ontario most expensive

Residential  •  Daily Hive

The most expensive rentals in the country are studios in B.C. and Ontario. The price per square foot for studios in B.C. is $3.74, and in Ontario it’s $3.72, according to the April National Rent Report from Rentals.ca.

Proposed non-resident taxes concern N.S. municipalities

Residential  •  CBC  •  CBC  •  Globe and Mail (Sub. required)

Nova Scotia municipalities have a list of concerns about the province’s proposed Non-Resident Deed Transfer Tax and Property Tax, which would add five per cent to the price of a property sold to someone not a full-time resident.