TAS sells 75% stake in 2 Tecumseth to Woodbourne

RENX  Residential, Commercial  •  Office, Retail, Apartments, Condominiums  •  Toronto / GTA

TAS has sold a 75 per cent interest in its five-building, 825,000-square-foot 2 Tecumseth development in Toronto to Woodbourne Capital Mgmt. TAS and Woodbourne will co-develop the site near King and Bathurst streets in the city’s arts and entertainment corridor.

Nearly 50 T.O. school board properties could be sold

Commercial  •  CBC

The Toronto Lands Corporation (TLC), which manages the real estate portfolio for the Toronto District School Board, has a plan to sell and leverage some of nearly 50 non-instructional properties to find a potential $1 billion to reinvest over the next decade.

Larco buys Burnaby site for $136M to build film studio

Commercial  •  Burnaby Now  •  Daily Hive

The City of Burnaby says it’s sold a 17.1-acre property to Larco Investments Ltd. for $136 million to make way for a 300,000-square-foot film studio at 3990 Marine Way. An adjacent road allowance is also included.

Port of Vancouver descends into ‘distress’

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

Extreme weather in British Columbia has exacerbated a bottleneck of cargo ships. On Sunday morning, there was a backlog of 54 ships at anchorage, up from 40 on Nov. 19, according to the Vancouver Fraser Port Authority.

ClubLink wins appeal for Kanata golf course redev.

Residential, Commercial  •  CBC  •  Ottawa Citizen  •  CTV

ClubLink has won its appeal of an Ontario Superior Court decision, which scraps a 30-year-old agreement that protected the Kanata Golf and Country Club from development. The development includes a proposed 1,480 units alongside partners Minto Communities and Richcraft Homes.

The Apartment Building Expert › Forward sales of multiresidential properties: A win-win

Derek Lobo: Founder and CEO , SVN Rock Advisors Inc.

Montreal’s Sainte Catherine getting $387.5M facelift

Residential, Commercial  •  Daily Commercial News  •  Montreal Gazette

Sainte Catherine, Montreal’s main downtown commercial street, is undergoing a once-in-a-century transformation designed to enhance an already heavily pedestrianized artery. Work on the $387.5 million multi-year project began in January 2018 and no completion date has been set yet.

Slate appoints Jankowska global head of ESG

Commercial  •  Sustainable Biz Canada

Toronto-based Slate Asset Management has appointed British sustainable investment specialist Bozena Jankowska managing director and global head of environmental, social and governance at the company’s London office. Hiring Jankowska was the next step in Slate’s ongoing ESG development.

Flood damage could cost farmers hundreds of millions

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

The road to recovery for B.C. farmers will be long and expensive after recent catastrophic flooding in southwestern B.C., according to the president of B.C. Agriculture Council. “I think we’re talking hundreds of millions of dollars of damage,” said Stan Vanderwaal.

First Capital proposes 37-storey mixed-use

Residential, Commercial  •  Urban Toronto

First Capital has proposed a 37-storey mixed-use, infill development at 328 Bloor St. W. The BDP Quadrangle-designed building would be comprised of an eight-storey podium with retail uses at grade, topped with a 29-storey residential tower.

Jim Taggart 2021’s Lifetime Achievement Award winner

Residential, Commercial  •  Ottawa Business Journal

For more than 25 years, Jim Taggart, a Lifetime Achievement Award winner, has been chairman of the Taggart Group of Companies, a major force in the construction and real estate industry in Ottawa, Kingston and Eastern Ontario.

REIT/REOC third-quarter financial results

Residential, Commercial  • 

Halmont Properties Corp., (HMT-X), Globe Newswire
Kadestone Capital Corp., (KDSX-X), PR Newswire
Lanesborough REIT, (LRT-UN-X), Canada Newswire
Urbanfund Corp., (UFC-X), Globe Newswire

Chinese regulators ease some real estate controls

Residential, Commercial  •  The Real Deal  •  Reuters  •  Business Times

Chinese regulators are easing some restrictions on bond sales by real estate firms and developers, though they aren’t pulling back entirely. The goal: limit credit to overleveraged borrowers without cutting off loans entirely, says People’s Bank of China’s Zou Lan.

Irish regulator plans tighter controls on funds

Commercial  •  Bloomberg

Ireland’s central bank plans to tighten regulation for commercial real estate funds amid fears that shocks in the property market could be amplified in the wider economy during a downturn.

Tim Hortons to open shops in Metro’s China stores

Commercial  •  Montreal Gazette

The Chinese arm of Canadian coffee chain Tim Hortons said on Monday it has signed a deal with Metro China to open shops in the retailer’s stores, as it banks on rising coffee consumption in the world’s most populous country.

Mindspace gets $72M induction to continue expansion

Commercial  •  The Real Deal  •  PR Newswire

Israeli shared-office space provider Mindspace has secured $72 million to help fuel its expansion. The fundraising round was led by Harel Insurance Investment and Financial Services to help Mindspace, which added new locations in London, Tel Aviv and Philadelphia.

After catastrophic year, B.C. homebuyers face new reality

Residential  •  Globe and Mail (Sub. required)

Consumers need to get educated, say industry experts who expect annual forest fires and other weather-related disasters to continue in B.C., forever changing our property-buying decisions. It’s time to get realistic about this “new reality,” says Kelowna realtor Richard Deacon.

Condo buyers file suit over 25% price hike

Residential  •  London Free Press

Some buyers in a Tillsonburg, Ont., condominium complex are suing developer Green Urban People after being hit with a price increase of up to $95,000 a unit, about one year after they bought, because of extra construction costs from the pandemic.

Why are so few laneway houses being built in T.O.?

Residential  •  Toronto Star

In about two weeks, the two-storey, two-bedroom laneway suite that replaced Tabatha Southey’s garage will be ready for her son and his fiancée to move in. The 1,000-square-foot stand-alone home cost about $560,000 to build and landscape.

Home prices in Quebec’s ski regions up 22.1% in 2021

Residential  •  Canada Newswire

According to the Royal LePage Winter Recreational Property Report, the median price of a single-family home around the major ski hills in Quebec increased 22.1% to $422,500, since the beginning of 2021. Meanwhile, the median price of a condominium rose 9.1% to $299,200.