Amexon to launch 5-tower Toronto Central Park dev.

RENX  Residential  •  Office, Condominiums  •  Toronto / GTA

A Sheppard Avenue property owned by Toronto’s Amexon Development Corp. since 1995 will be transformed into a multi-tower, mixed-use community with more than 2,000 residential units and 320,000 square feet of redesigned office space.

T.O. reducing office footprint for affordable housing

Residential, Commercial  •  REMI Network  •  City of Toronto media release

The City of Toronto is reducing its office footprint from 55 to 15 locations and freeing up eight city-owned properties for affordable housing and other building priorities, approving the next phase of ModernTO, which was launched in 2019 to better utilize office space.

Canada to ban foreigners from buying homes

Residential  •  Financial Post  •  Globe and Mail  •  Vancouver Sun

In Finance Minister Chrystia Freeland’s budget on Thursday, Canada will ban most foreigners from buying homes for two years and provide billions of dollars to spur construction activity in an attempt to cool off a surging real-estate market.

The People Space › People Space: MacAngus promoted at Colliers, new CCO at KingSett…

Don Wilcox: Managing Editor

Canaccord downgrades several REITs on rising rates

Residential, Commercial  •  Bloomberg

Mark Rothschild, an analyst at Canaccord Genuity Corp., reduced his 12-month price target for eight REITs in his coverage universe by an average of 5.5 per cent, including Brookfield Asset Management, Canadian Apartment Properties REIT, Dream Industrial REIT and Granite REIT.

Three discounted REITs to buy right now

Residential, Commercial  •  Motley Fool

Halifax-based Killam Apartment REIT ((KMP-UN-T) is currently trading at a 9.2% discount from its recent peak. CAPREIT (CAR-UN-T) is Canada’s largest REIT by market cap. There are relatively few aristocratic REITs in Canada, and one of them is Granite REIT (GRT-UN-T).

Sponsored by FCT The real value of commercial title insurance

Property owners and lenders often ask their legal professionals why they should be getting a title insurance policy. After all, haven’t they been relying on a title opinion all these years? Why change now?

Rail transport set for Montreal port

Commercial  •  Canada Newswire  •  Les Affaires

The Montreal Port Authority and Canadian National Railway have reached an agreement to integrate rail transport at the MPA’s new container terminal in Contrecœur. This initiative will help maximize the terminal’s efficiency and ensure a competitive commercial offering.

Reichmanns settle multi-million-dollar lawsuit

Commercial  •  Globe and Mail  •  Toronto Star

The wealthy Reichmann family of Toronto has avoided an expensive public trial, resolving a long-running lawsuit in which a son sued his elderly father, who in turn filed a claim against his older brother.

The Industrial Real Estate Show › Podcast: Rising interest rates, inflation and industrial real estate

Chad Griffiths: Partner, NAI Commercial

Vancouver unveils land-use, growth plan through 2050

Residential  •  Globe and Mail  •  CTV  •  Vancouver Sun

Nearly three years in the making, the draft Vancouver Plan was released by the city Tuesday. The draft lays out a land-use plan for growth and development until 2050 as the city’s population is set to increase by 260,000.

Latest Sustainable Biz Canada headlines

Residential, Commercial  • 

Building codes contain sustainability shortcomings: ULI
AY integrates tech to improve bldg. performance, occupancy
Building industry turning focus to embodied carbon

Ivanhoé, Greystar kick off Austin office project

Commercial  •  Commercial Property Executive  •  Ivanhoé Cambridge media release

An Ivanhoé Cambridge/Greystar JV has broken ground on 1121 at Symphony Square, an office project totalling 175,000 square feet in downtown Austin, Texas. The seven-storey building will be part of the mixed-use Symphony Square, home to 32-storey residential tower The Waller.

Brookfield’s Flatt reveals secret behind 3,700% return

Commercial  •  Bloomberg

Bruce Flatt, who heads one of the world’s largest alternative-investment companies, encourages his employees to make small mistakes every day. “It means that we’re testing the limits of where we should be going,” said Brookfield Asset Management Inc.’s CEO.

Investors lured back to U.S. office sector

Commercial  •  Wealth Management

Last Thursday, the Howard Hughes Corp. sold an equity stake in a 1.5-million-square-foot office tower at 11 Wacker Drive in Chicago. At $210 million, that puts the valuation of the building at more than $1 billion, the highest office valuation in Chicago since 2015.

Manhattan residential sales hit a record $7.3B in Q1

Residential  •  CNBC

Manhattan residential real estate sales topped $7 billion in the first quarter, marking the strongest-ever start to a year as the market shows no signs of slowing, according to new sales data from Miller Samuel and Douglas Elliman.

Condo assignment sales fuelling market speculation

Residential  •  Globe and Mail (Sub. required)

As 10s of thousands opt to plunk down deposits and sign contracts to buy a condominium unit before construction has begun, those close to the industry say many of those have no intention of ever buying the finished product.

CREA pilot to display real-time offer tracking

Residential  •  Canada Newswire

The Canadian Real Estate Association (CREA) announced a pilot project that will display real-time tracking of offers on REALTOR.ca listings, a first for Canada, through Openn Offers, an offer management software provided by Australian property technology company Openn Negotiation.

Rate hikes, cooling prices could squeeze HELOC holders

Residential  •  Financial Post

The Bank of Canada is widely expected to raise interest rates again next week to combat inflation, possibly by as much as 50 basis points, a move that could cool home prices and put pressure on indebted consumers.

Rising rates to cool Ontario housing market

Residential  •  Globe and Mail

Ontario is moving to rein in surging home prices with populist measures like a bigger foreign-buyer tax, but economists including BMO Capital Markets’ Sal Guatieri warn rising interest rates are likely to do most of the work.