First Gulf, Spear Street JV on GTA life sciences redev.

RENX  Commercial  •  Industrial, Office  •  Toronto / GTA

First Gulf Corporation and Spear Street Capital are collaborating on the redevelopment of Element Toronto – Building Science into a life sciences campus. The 24.34-acre property could house 350,000 square feet of laboratory, office, innovation and technology space.

T.O. could see up to 5,000 condo unit cancellations

Residential  •  Globe and Mail (Sub. required)

Toronto housing developers could cancel the construction of up to 5,000 condo units as the costs of borrowing and building soar, according to an analysis by leading condo research group Urbanation Inc.

Three mixed-use towers proposed for Ottawa

Residential, Commercial  •  Ottawa Business Journal

Ottawa’s venerable Granite Curling Club could be replaced by 20-, 36- and 40-storey high-rises featuring over 850 rental apartments by local developer Morley Hoppner. The proposed mixed-use project is just steps away from the future Westboro LRT station.

The People Space › People Space: Finkbeiner leaving GWL, new CAPREIT chair named

Don Wilcox: Managing Editor

Canada Goose to relocate HQ to Menkes’ Sugar Wharf

Commercial  •  Retail Insider  •  RENX

Iconic luxury brand Canada Goose has finalized a deal for its new Canadian headquarters, leasing 115,000 square feet over four floors at Menkes Developments’ 100 Queens Quay East in Toronto, according to CBRE, which represented the building owner in the transaction.

Canada’s Internet Archive opens Vancouver HQ

Commercial  •  Vancouver Sun

The Internet Archive Canada has a new headquarters at Vancouver’s 330 West Pender, a restored 1907 building. Designed in the “temple bank” architectural style, it started out life as the B.C. Permanent Loan Company and recently has hosted weddings and movies.

U of T proposes six-storey medical hub

Commercial  •  Urban Toronto

The University of Toronto proposes a six-storey Scarborough Academy of Medicine and Integrated Health at its Scarborough campus. The 163,000-foot gh3-designed building would train the next generation of health-care professionals in the Eastern Greater Toronto Area.

TD invests in three-day in-office work model

Commercial  •  Globe and Mail (Sub. required)

Unlike its American counterparts such as Goldman Sachs and JPMorgan, TD’s investment banking division (TD-T) has landed on a hybrid model of three days in the office and two days working from home.

Nature, urban living converge at Highland Commons

Residential  •  Daily Commercial News  •  RENX

When designing Highland Commons, a new mid-rise condominium development in Toronto’s East End for Altree Developments, Kohn Partnership Architects used a balanced and contextual approach, taking into consideration the existing neighbourhood along with the proximity to nearby natural spaces.

Three luxury apartment bldgs. proposed in Winnipeg

Residential  •  CTV

Real estate management firm Private Pension Partners has proposed six-, five- and four-storey luxury apartment rental buildings at 490 Shaftesbury Blvd. in Winnipeg. The three buildings would include a total of 58 units, with a connecting underground parking lot.

Land Services Group proposes six-storey rental

Residential  •  Urban Toronto

Land Services Group has proposed a six-storey rental building designed by Hyphen Studio at 219 Roxton Rd. The building would have 17 residential rental units – 11 one-bedroom and six two-bedroom units.

Mall redevelopments signal retail transformation

Commercial  •  Daily Commercial News  •  RENX

The transition of the retail sector continues in full swing post-COVID with the redevelopment of aging shopping centres among the trends changing the landscape, developers were told during a panel discussion at the Land & Development conference in Toronto.

U.S. office sales surpass $35B in 2022

Commercial  •  Commercial Observer  •  Bisnow  •  Commercial Property Executive

The U.S. saw $35.3 billion in office transactions in 2022 by the end of May for an average of about $274 per square foot, according to a new report tracking Yardi Matrix major office market data from office buildings larger than 25,000 square feet.

Amazon’s Whole Foods buy a study in hubris

Commercial  •  Bisnow

Amazon’s attempts to unite brick-and-mortar grocery with its e-commerce operation might have struck fear into the industry when it announced its acquisition of Whole Foods five years ago, but it has been a bit of a shaky marriage so far.

U.S. housing competition drops to 15-month low

Residential  •  Business Wire

Across the U.S., 57.8 per cent of home offers written by Redfin agents faced competition on a seasonally adjusted basis in May, the lowest level since February 2021, according to a new report. That’s down from a pandemic peak of 68.8% year-over-year.

Florida building collapse probe begins structural tests

Residential  •  Daily Commercial News

The federal investigation into the deadly collapse of a Florida beachfront condominium building is entering a new phase that involves cutting and drilling into concrete and steel to determine what role they played in the disaster, officials said Wednesday.

Distressed deals pile up in once-booming market

Residential  •  Bloomberg  •  CBC  •  CBC

Zohal Habibi hadn’t even moved into her new home in the suburbs of Toronto when the price started to plunge. After paying $920,000 in March, the house was appraised at $740,000. They were no longer able to obtain a sufficient loan.

Burnaby third-most expensive place to rent in Canada

Residential  •  Burnaby Now

A one-bedroom rental in Burnaby is more than $2,000 at $2,012, according to Rentals.ca’s national rankings report for June. That’s a 6.9 per cent increase over April and a 24.1 per cent year-over-year rise. Vancouver and Toronto remain No. 1 and No. 2 at $2,377 and $2,133, respectively.

Quebec 100,000 homes short: Analysis

Residential  •  La Presse

After analyzing the situation of 18 agglomerations and metropolitan regions, the Association of Construction and Habituation Professionals of Quebec (APCHQ) estimates the housing shortage in Quebec at around 100,000 homes.

Housing sales hit record high in Regina

Residential  •  CBC

Despite supply issues, Saskatchewan’s housing sales remain high compared to pre-pandemic years. In fact, housing sales in Regina hit a record high in May, with 456 units sold. That number raises the year-to-date sales to 1,615, according to the Saskatchewan Realtors Association.