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PC Urban launches Urban Flats, and a New Westminster apt. tower
PC Urban launches Urban Flats, and a New West apt. tower
Vancouver-based developer PC Urban Properties is launching a spin-off brand that will focus on building purpose-built rental homes in Metro Vancouver, Victoria and Kelowna. It also broke ground on a 29-storey rental tower in New Westminster.
Canada's life sciences nodes slated for growth: Colliers
The market fundamentals for development of Canada’s life sciences sector have never been greater than they are today, according to a report from Colliers.
T.O.'s class-A office towers took a hit in Q1: JLL
Downtown Toronto’s sublease availability jumped 13.5 per cent from the fourth quarter of 2022 to over 4.36 million square feet in the first three months of the year, according to data from real estate firm JLL Inc.
T.O. getting 7 buildings taller than anything else in Canada
Toronto has seven soaring new skyscrapers gunning to surpass the current tallest and break the 300-metre 'supertall' mark, including two already well under construction, and five waiting in the wings.
Ontario ICI sector will grow to peak in 2028: BuildForce
BuildForce Canada forecasts Ontario’s ICI construction sector will continue to grow towards a peak in 2028, putting pressure on already tight recruiting conditions in the province. The GTA will be supported by a series of large-scale projects.
 | Grosvenor Grosvenor reviews solid performance in 2022Grosvenor publishes 2022 Annual Review, announcing solid financial performance and new global carbon reduction commitment. Sponsored by: Grosvenor |
Feds lose $3.1B annually from construction tax fraud
The Ontario Construction Secretariat reports Ottawa loses out on $3.1 billion in tax revenue due to construction industry-related tax fraud: $1.1 billion in income tax, $823 million in HST and $654 million in CPP contributions.
Lenders accuse StateView Homes of cheque-kiting
The future of hundreds of unbuilt townhouses is in limbo as Woodbridge, Ont.-based developer StateView Homes deals with fallout caused by an alleged “cheque-kiting” scheme that ran up debts of $37 million.
South Etobicoke project would include 2,021 units
A proposal from The Lake Promenade Co-Tenancy for 220 Lake Promenade in South Etobicoke would replace five existing apartment buildings with several buildings of 12, 14 and 30 storeys. The BDP Quadrangle-designed buildings would include a total of 2,021 suites.
Resubmission nearly doubles housing for T.O. tower
Bousfields has resubmitted an application on behalf of the landowner at 3374 Keele St. in Toronto. The original Kirkor Architects Planners design featured a 12-storey building and 158 residential units. The resubmission is for 29 storeys and 296 units.
Artis among most oversold stocks on the TSX
There are five index constituents trading with oversold, attractive RSIs on The S&P/TSX Composite, including Canopy Growth Corp., and Artis REIT. Among the 14 overbought are Home Capital Group Inc., Dollarama Inc. and Restaurant Brands International Inc.
SL Green JV lands $500M for Manhattan office tower
SL Green Realty Corp., in partnership with an institutional investor, has refinanced the 1.5-million-square-foot 919 Third Ave. in Midtown Manhattan. Aareal Capital Corp., Credit Agricole Corporate and Investment Bank issued the $500 million loan.
Terra to buy waterfront Miami site for $1.2B
A joint venture, led by David Martin’s Terra Group, has announced plans to buy a waterfront site near downtown Miami for $1.225 billion in what could become one of the country’s priciest land acquisitions. Genting Group is the seller.
Apollo acquires German apartment portfolio for $1.5B
Apollo Global Management Inc. (APO-N) has agreed to acquire part of a portfolio of apartments from Vonovia SE for $1.5 billion Cdn, with the largest German residential deal in months suggesting confidence is returning to the under-pressure sector.
Barnes & Noble planning dozens of new stores
Bookseller Barnes & Noble plans to open about 30 new stores this year, the most in a single year since 2009 and nearly double the number it opened in 2022, when the company opened 17 new stores.
High-risk loans more than doubled in 2022
Canadian Mortgage and Housing Corp. (CMHC) said the loan-to-value ratio, which measures the amount of a loan against the value of the mortgage holder’s home, in its highest reported category more than doubled to 2.8 per cent in Q3 2022.
Many condo appraisals less than investors paid
The dilemma confronting many condo buyers is their units – in projects nearing completion – are not worth what they agreed to pay. The sales centre frenzies reached a crescendo in 2021 when more than 30,000 units were sold in preconstruction.
Van. housing construction stuck due to skyrocketing costs
Vancouver, which accounts for 25 per cent of Metro Vancouver’s population, is far from meeting the 10-year target it set in 2017 for 72,000 more homes, city staff say in the latest annual report on housing.
Kelowna to use AI to speed up development approvals
City of Kelowna staff, in partnership with Microsoft, have been developing an artificial intelligence chatbot that will be programmed to receive residential construction and renovation applications, analyze them for compliance and issue permits in one day.
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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