Vandyk to build Lakeview DXE Club in busy GTA dev. hub

RENX  Residential  •  Condominiums  •  Toronto / GTA

Vandyk Properties will launch sales of its latest mixed-use condominium, Lakeview DXE Club, in a burgeoning development hub along the Etobicoke-Mississauga border in early March.

Apple threatens to pull out of The One

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

Apple Inc. (AAPL-Q) has threatened to pull out of The One, Sam Mizrahi’s 85-storey retail and condo project at Yonge and Bloor Streets in downtown Toronto, dealing a blow to the development of the tallest residential building in the country.

CF decries Pointe-Claire temporary dev. freeze

Commercial  •  Canada Newswire

Cadillac Fairview says one of the sites targeted by Pointe-Claire’s temporary development freeze on several key areas is the CF Fairview Pointe Claire shopping centre, freezing a human-centric, mixed-use living environment featuring a pedestrian-friendly public plaza.

Design, Policy and Canadian Cities › Stop worrying about building height; start focusing on good design

Naama Blonder: Architect, Urban Designer, Urban Planner | B.Arch, OAA, RPP, MCIP

WE shut down prospective higher bidder for properties

Commercial  •  Toronto Star

Before selling almost all of its $41 million worth real estate for an apparent loss, WE Charity received offers from at least two other potential buyers, including one businessman who was not allowed to negotiate a higher price.

Ottawa rejects proposal for five embassies

Commercial  •  CBC

Ottawa city council overwhelmingly voted against the National Capital Commission plan to allow up to five embassies to be built in the Mechanicsville area, taking the rare step of overturning a previous decision at the planning committee.

Streetworks to redevelop downtown Vancouver HBC

Commercial  •  urbanYVR  •  Retail Insider

HBC-owned Streetworks Development has announced the redevelopment of the downtown Vancouver Hudson’s Bay store at West Georgia and Granville Street. The six-storey building, constructed in 1927, sits under a view cone limiting the height of any redevelopment to 300 feet.

Lamb proposes 34-storey mixed-use Toronto tower

Residential, Commercial  •  Urban Toronto

Lamb Development Corp. has proposed a 34-storey mixed-use building at 296 King St. E. in Toronto’s King-Parliament area. The architects-Alliance-designed building would include 364 residential units – 49 studios (32.4%) 139 one-bedrooms (38.2%), 64 two-bedrooms (17.6%) and 43 three-bedrooms (11.8%) – plus 13,000 square feet of retail.

Nanaimo three-building auto dealership approved

Commercial  •  Victoria Times Colonist

A three-building automobile dealership planned for a high-profile former garden-centre site on the Island Highway in Nanaimo has won approval from city council. Property owner 1960400 Ontario Ltd., intends to build Porsche and Subaru dealerships and a service building.

LCH proposes 11-storey res in Scarborough

Residential  •  Urban Toronto

LCH Developments has proposed an 11-storey mid-rise building, designed by RAW Design, set to contain 309 residential units. The building, at 3291 Kingston Rd. in the Scarborough Village neighbourhood, would include 284 vehicular spaces and 223 bicycle spaces.

Indigo earns $45.1M as sales improve in Q3

Commercial  •  Toronto Star  •  Canada Newswire

Toronto-based retailer Indigo Books and Music Inc. (IDG-T) says it earned $45.1 million in the third quarter of its 2022 fiscal year, even as Omicron took a bite out of the critical Christmas shopping season.

REOC financial results

Residential, Commercial  • 

Brookfield Asset Management, (BAM-A-T), Globe Newswire
Mainstreet Equity Corp., (MEQ-T), Canada Newswire

CRE, home insurers see record profits

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

A pricey market for car, home and commercial insurance buyers is fuelling record profits and global expansion at domestic property and casualty insurers such as Fairfax Financial Holdings Ltd. and Intact Financial Corp. (IFC-T).

Manulife, ARCH Capital to form Asia partnership

Commercial  •  Pensions and Investments

Toronto-headquartered Manulife Investment Management announced Monday it will form a strategic partnership with ARCH Capital Management, a Hong Kong-based Asia-focused real estate investment boutique, with Manulife acquiring a “significant minority” stake in ARCH.

CPP, Round Hill add Dutch asset to student housing JV

Residential  •  Property Magazine  •  IPE Real Assets

CPP Investments and London-headquartered global real estate investment, development and asset manager Round Hill Capital, have acquired a 506-bed unit in Maastricht. The deal is one of four seed asset acquisitions for its $1.44B European student housing venture.

U.S. Fed to stress test banks against CRE debt troubles

Commercial  •  Reuters  •  Bloomberg

The U.S. Federal Reserve announced on Thursday that its 2022 round of large bank stress tests will include a severe decline in commercial real estate prices and turmoil in corporate bond markets.

Drop in home prices could help economy: CIBC

Residential  •  Financial Post

A drop in home prices could spur economic growth in Canada, CIBC chief economist Avery Shenfeld said. Expensive housing can be a deterrent to skilled immigrants and businesses looking to locate in Canada.

N.B. cities looking to increase density

Residential  •  Global News

The City of Moncton has hired consultants to develop an urban growth strategy, “that will address where and how residential and employment growth should occur in Moncton over the next 25 years,” according to Andrew Smith, Moncton’s long-range policy planning manager.

Insurance soars for 129-year-old N.B. building

Residential, Commercial  •  CBC

When Greg Gillis opened a notice from the insurance provider of his Fredericton condominium, he was shocked. The cost of insurance for the 10-condo building, built in 1893 and converted to condominiums in 2012, had skyrocketed from $10,000 to $22,000 in a year.

Calgary’s real estate market hottest in years

Residential  •  CTV

Calgary’s detached homes market is on a tear, with the benchmark price up $12,000 in the last month alone. That benchmark home now sits at $472,300, an increase of 12 per cent year-over-year, still well below Toronto and Vancouver which sit around $1.26 million.