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Nonni plans 27-storey Vancouver tower amid 'cautious' market
Nonni plans 27-storey Van. tower amid ‘cautious’ market
Nonni Property Group, the developer of a planned mixed-use tower in downtown Vancouver, says market conditions and economic headwinds demand caution and prudence as developers work to maintain pipelines of viable commercial and residential projects.
ULI meeting to bring 5,000 CRE professionals to Toronto
COVID-19 put a halt to Toronto's plans to host the 2020 Urban Land Institute (ULI) Spring Meeting, but it’s now all systems go for ULI Toronto to bring the 2023 event to the city May 16 to 18.
Development demands place pressure on ALR land
Both Metro Vancouver and the Agricultural Land Commission have identified development and land speculation as theats to the resilience of regional agriculture. But so far, this pressure has not led to obvious changes within the Agricultural Land Reserve (ALR).
Van. Chinatown businesses struggle with soaring rents
Next month, Kent’s Kitchen, a family-run business serving low-cost Asian food in Vancouver’s Chinatown, will shutter after 46 years. It is the second within weeks: Daisy Garden Kitchen, which had been in the neighbourhood for 44 years, has also closed.
Boardwalk, RioCan, 20 U.S. REITs hike dividends in February
In Canada, multiresidential-focused Boardwalk REIT (BEI-UN-T) declared an 8.3% increase to its monthly dividend payout in February to 9.75 cents per share. Shopping centre REIT RioCan REIT (REI-UN-T) also boosted its distribution by 5.9% to nine cents per share.
Grocery REITs a safe harbour in the market storm
Choice Properties REIT (CHP-UN-T), Crombie REIT (CRR-UN-T) and SmartCentres REIT (SRU-UN-T) have several things in common. First, all three derive a large chunk of their rental income from grocery stores, drug stores and other defensive businesses.
Edmonton mall cashes in on alternative tenants
The mini stock cars of Radio Control Racers Edmonton are swerving down the track at their new storefront in the Bonnie Doon Shopping Centre. The club is one of the unconventional tenants setting up shop in the shopping centre.
Li-Cycle announces Kion partnership, new facility in France
Li-Cycle Holdings Corp., a Mississauga-based battery recycler, has announced a lithium-ion battery recycling partnership with German industrial equipment firm Kion Group and a plan for a separate new facility in France to further its European expansion.
Calgary Film Centre on market for $25M
With a booming film sector that shows no signs of slowing down, the city has placed the Calgary Film Centre back on the market with an asking price of $25 million. It was built for approximately $28.2 million.
Concert's Victoria office bldg. could lose hundreds of workers
Hundreds of office workers at Concert Properties' 712 Yates St. building in downtown Victoria could be moved to Central Saanich with the awarding of a contract to Pacific Blue Cross to administer Health Insurance B.C. services.
Fairway proposes 19-storey mixed-use in High Park
Fairway Developments proposes a 19-storey mixed-use building at 1728 Bloor St. W., near the Keele Station on Bloor Line 2. The Gabriel Fain Architects-designed building would include 99 residential units, ground-floor retail and 120 bicycle parking spots.
Small banks, CRE could be on the brink of a 'doom loop'
CRE, which accounts for 43 per cent of U.S. small bank loans, would be the most affected if banks continue to rein in lending to cope with a flight in deposits. Small banks provide the lion’s share of CRE lending.
Triple Group makes bid for NFL Commanders: Report
Canadian billionaire Steve Apostolopoulos - managing partner of Toronto-based real estate firm Triple Group of Companies - has reportedly made a bid for the NFL's Washington Commanders, making him the third known party to do so.
Brookfield consortium acquiring Origin Energy for $10.2B
Australia’s Origin Energy Ltd on Monday agreed to a US$10.21 billion takeover offer from a consortium led by Canada’s Brookfield, nearing the conclusion of one of the biggest private equity-backed buyouts in the country.
European CRE stocks could fall by 50%: Citi
European commercial real estate stock prices could drop by half as the sector grapples with higher debt-servicing costs and a slump in property valuations, according to analysts at Citigroup Inc.
Airbnb to pull illegal listings in Quebec
Short-term rental company Airbnb said Friday it would pull listings in Quebec that don’t have a permit from the provincial government, eight days after a fatal fire destroyed a historic Old Montreal building that housed illegal rentals.
Ont. plan to build 1.5 million homes by 2031 could be in trouble
The Ontario government wants to build 1.5 million homes in the next decade, but new data in its 2023 budget estimates there will only be some 80,000 new housing starts per year for the next three years.
Greenbelt plans promote sprawl over sustainability: Newmarket mayor
The Ontario government’s plan to turn over some of the Greenbelt for housing has Newmarket Mayor John Taylor warning this new demand on the region’s wastewater system could use up capacity that might otherwise go to denser neighbourhoods.
Even in affordable Edmonton, mortgage holders struggle
Edmonton might be one of Canada’s most affordable markets, but the rise of interest rates could have a significant impact on the city’s mortgage holders, who represent about 65 per cent of all homeowners.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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