Toronto’s Reside Condos receives zoning approval

Originate Developments and Harlo Capital have received zoning approval from the City of Toronto for an 18-storey mixed-use residential condominium at the corner of Bathurst and Richmond Streets.

Creative parking helps densify industrial

With a limited base of developable land, the push to densify industrial sites is increasing. Oxford Properties Group developed Canada’s first large-scale, multi-level industrial facility, a 707,000-square-foot project at Riverbend Business Park in Burnaby.

Enablence considers $150M chip fabrication plant in Ottawa

A Kanata-based photonics company that has struggled to gain traction for nearly two decades says it is scouting potential sites in the Ottawa area to build a $150-million chip fabrication plant that would employ more than 100 people.

GM to receive funding for Quebec battery facility

Quebec and Ottawa will offer "a few hundred" million dollars to General Motors for a US$400-million battery plant in Quebec. The announcement will be made in the industrial park of Bécancour, Que.

Multi-billion offer to save Stellantis plant falls short

Weeks of crisis talks to keep Stellantis from moving a massive EV battery plant out of Canada are at an impasse as Ottawa’s latest offer falls short of what the company wants, sources say.

Shindico’s diversified portfolio positioned for opportunities

Industrial real estate continues to be in high demand in Winnipeg and across North America and with many young people being priced out of the single-family dwelling marketplace, developers such as Winnipeg-based Shindico Realty Inc. can’t build projects quickly enough. 

Port Moody project may need trade-offs: Wesgroup

Port Moody Council’s willingness to make trade-offs is key to the inclusion of affordable housing in Wesgroup Properties' proposed eight-buiding 14.9-acre master-planned mixed-use community. The project would see 2,900 new homes in six towers of up to 31 storeys.

Reserve, Westdale revise 50-storey res. proposal

Reserve Properties and Westdale Properties have resubmitted zoning bylaw and site plan approval applications for an Arcadis-designed 50-storey residential tower at 77 Roehampton Ave. A reconfigured composition would increase the number of one- and two-bedrooms among 624 residential units.

Downtown London's CRE vacancy rate 25%

A city staff report pegs downtown London's commercial vacancy rate at 24.6 per cent while suggesting the city look at a  handful of solutions, some that would require the co-operation of property owners and others with a hefty price tag.

George Brown College opens sustainability institute

George Brown College has launched the Brookfield Sustainability Institute (BSI) to promote sustainable communities through education and global cooperation, which will be hosted inside its Limberlost Place structure, currently under construction.

REIT/REOC first-quarter financial results

Firm Capital Apartment REIT, (FCA-UN-X), Globe Newswire

Halmont Properties Corp., (HMT-X), Globe Newswire

NexLiving Communities Inc., (NXLV-X), Canada Newswire

Trez Capital, (TRZ100.CF), Canada Newswire

Firm Capital selling most of its U.S. properties

Firm Capital Apartment REIT (FCA-U-V) has deals in place to sell Texas and New Jersey properties for $32.1 million. The REIT also has Texas and Florida properties in various stages of sale and has listed JV investments in Maryland.

Walmart Canada's new CEO talks tech, data

Gonzalo Gebara takes over as Walmart Canada president and CEO at an interesting time. Over the past few years, successive changes have rocked the grocery industry, from supply chain disruptions and labour shortages to skyrocketing inflation and general cost-of-living challenges.

WeWork CFO joins CEO in resigning

WeWork chief financial officer Andre Fernandez will resign on June 1, the company disclosed in a filing with the Securities and Exchange Commission. He will be replaced by WeWork's chief accounting officer, Kurt Wehner, who joined WeWork in 2020.

U.S. should be exempt from foreign housing tax: Congress

A bipartisan group of U.S. lawmakers is urging the State Department to ask that Americans be exempted from Canada’s tax on foreign property owners. It complains Ottawa is unfairly punishing U.S. citizens who own vacation properties north of the border.

More than half of GTA condo investors losing money

For the first time, more than half of the investors who bought GTA pre-construction units as rental properties were losing money last year, according to new joint report by market research firm Urbanation and CIBC Capital Markets.

Feds haven't tightened affordability rental rules

The federal government has yet to tighten affordability rules under a program that provides billions of dollars in low-cost loans to developers to create rental housing, despite changes that were announced more than a year ago.

B.C. expanding tax to clamp down on speculation

B.C. is expanding the tax to restrict real estate speculation and ensure homes in rental-strapped communities don't sit empty. The Speculation and Vacancy Tax now includes the municipalities of North Cowichan, Duncan, Ladysmith, Lake Cowichan, Lions Bay and Squamish.

No Mtl. residential lots changed hands in April, May

No purchase of land for the purposes of residential construction has been made on the Island of Montreal for two months, says Landerz CEO Simon G. Boyer. "Low sales today mean anemic housing starts 18 months from now,” he says.