Hamilton mixed-use dev. gets height-limit exemption

RENX  Residential  •  Apartments, Condominiums  •  Ontario

Ground has broken on the latest project in downtown Hamilton, a mixed-use development at 75 James St. S. which will tower more than 30 storeys and include over 500 residential units.

Canderel-led group to buy Cominar in $5.7B transaction

RENX  Commercial  •  Industrial, Office, Retail  •  National

Cominar REIT (CUF-UN-T) has an agreement to be acquired by a Canderel-led consortium in a transaction which values the trust at $5.7 billion. The arrangement involves the sale of various parts of Cominar’s portfolio to different purchasers.

Broccolini proposes 48-, 59 storey mixed-use towers

Residential, Commercial  •  Urban Toronto  •  RENX

Montreal-based Broccolini Real Estate Group proposes 48- and 59-storey mixed-use towers in downtown Toronto. The HuntleySelby towers, designed by IBI Group, would include 1,297 residential units: 275 studio, 178 one-bedroom, 425 one-bedroom-plus-den, 279 two-bedroom and 140 three-bedroom in addition to ground-floor retail.

Firing of Acciona could could affect other B.C. projects

Commercial  •  Globe and Mail

Acciona, which was recently fired as the contractor of Metro Vancouver’s billion-dollar waste-treatment plant, is also involved the region’s two biggest transportation projects as a 60 per cent partner in Vancouver’s Broadway subway project and a 50-50 partner on the Pattullo Bridge.

Groundbreaking set for North Bay data centre

Commercial  •  BayToday

Validus Power Corp. and Hut 8 will hold a ground-breaking ceremony today for a new $100-million-plus, 32,000-square-foot data centre on the North Bay, Ont., site of a former Atlantic Power Corp. power plant on Highway 11 north.

Galt 28-storey hotel, 37-storey condo approved

Residential, Commercial  •  CBC

Cambridge city council has cleared the way for development of a 37-storey condo building and 28-storey hotel adjacent to the Cambridge Mill in downtown Galt. Pearle Hospitality will build 253 condo units, 146 hotel suites, a restaurant and a spa.

Real Estate with Howard Drukarsh › Podcast: Top-performing NYC agent Kirsten Jordan with Howard Drukarsh

Howard Drukarsh: Host, Real Estate with Howard Drukarsh

Proptech helps find answers to ESG challenges

Residential, Commercial  •  Sustainable Biz Canada

Increasingly powerful property technology platforms are giving builders and property managers the tools they need to respond to shifts in investor priorities, attendees at the BOMEX Virtual 2021 conference heard.

Cashier-less convenience stores come to T.O.

Commercial  •  CTV

New convenience stores are popping up in Toronto that are completely self-serve, have no cashiers and are open 24 hours a day. If you want to get inside to buy something, you’ll need to download an app to your smartphone.

Labour shortage contributes to RBI’s revenue miss

Commercial  •  Financial Post  •  Canada Newswire  •  Victoria Times Colonist

Burger King and Tim Hortons are struggling with a staffing crunch and the Delta variant keeping coffee-loving office workers at home, causing parent Restaurant Brands International Inc. (QSR-T) to miss estimates for quarterly revenue on Monday.

Groupe Quint rebrands as Brasswater

Commercial  •  Canada Newswire  •  RENX

Over the past six years Groupe Quint, founded by Ian Quint, has built up a portfolio of over 10 million square feet of Quebec CRE properties. In addition to a new brand, Brasswater will be executing a new corporate mission.

Hotel investor allegedly defrauded of $1M

Commercial  •  Vancouver Sun

The B.C. Securities Commission is alleging that a Sooke resident was involved in defrauding an investor who believed a $1 million investment would buy 40 per cent ownership in the Sooke Harbour House hotel.

Amazon ramping up industrial acquisitions

Commercial  •  Bisnow

The largest private occupier of U.S. industrial real estate has begun to shift its strategy away from leasing warehouses, a decision that could upend what has become the preferred asset class for commercial real estate investors over the last 18 months.

JLL buys Building Engines for $300M

Commercial  •  The Real Deal

JLL is building out its proptech capabilities with its acquisition of Building Engines for $300 million. The Boston-based building operations software firm hosts more than 1,000 clients, counting 35,000 properties and three billion square feet among its portfolio.

Flagship acquires two U.S. RV communities

Residential  •  Canada Newswire

Flagship Communities REIT (MHC-U-T) announced today the acquisition of two RV Resort communities for an aggregate purchase price of approximately US$8.35 million. The Acquisitions are located in highly desirable areas within Flagship’s core markets of Northern Kentucky and Central Ohio.

China’s bubble started with ‘state capitalism’

Residential, Commercial  •  Bloomberg  •  Globe and Mail  •  Canada Newswire

Property speculators have hijacked the world’s second largest economy, responding to a set of incentives unique to the Chinese model of development. Land and housing markets are set up in a way that virtually demands the speculative purchase of apartments.

Parents gave adult kids more than $10B to buy houses

Residential  •  Globe and Mail (Sub. required)  •  Business In Vancouver

According to a report issued Monday by CIBC Economics, Canadian parents gave their kids just more than $10 billion in down-payment help over the past year, which was 10 per cent of total down payments over that period.

Multiple-property owners largest slice of T.O. homebuyers

Residential  •  Toronto Star

Multiple-home owners — a group that includes real estate investors as well as those who own a vacation home like a cottage — became the most common kind of homebuyer throughout Toronto between January and August, according to Teranet data.

N.S. to consider tax on out-of-province homebuyers

Residential  •  Globe and Mail

Premier Tim Houston has instructed Finance Minister Allan MacMaster to implement a deed transfer tax on properties purchased by individuals not paying Nova Scotia taxes and to impose a levy of $2 per $100 of assessed property value on out-of-province owners.

Killam likely to dodge rent cap on many Halifax apts.

Residential  •  CBC  •  RENX

Killam Apartment REIT (KMT-UN-T) will likely be able to sidestep newly extended rent controls on a significant portion of its Halifax apartment portfolio because the cap will continue to allow rents to rise without restriction when new tenants move in.