Fitzrovia buys T.O.’s 260 King St. E. for 2-tower redevelopment

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

Fitzrovia has acquired a full city block at 260 King St. E. in Toronto where it plans to develop a two-tower mixed-use project with approximately 850 residential rental suites.

Centurion to acquire 100% of 30-bldg. Montreal portfolio

Residential  •  Centurion Asset Management media release  •  RENX

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, has closed its acquisition of two-thirds ownership in a record-setting, 30-building apartment portfolio in Montreal. It also executed an agreement to acquire the remaining one-third interest.

The People Space › People Space: Executive app’ts at Highstreet, Oxford, CBRE, BGO …

Don Wilcox: Managing Editor

Sienna, Sabra to acquire 11 Extendicare seniors homes

RENX  Residential  •  Seniors Housing  •  Ontario, Saskatchewan

Sienna Senior Living (SIA-T) and California-based Sabra Health Care REIT have formed a joint venture to acquire 11 Extendicare retirement living residences in Ontario and Saskatchewan for $307.5 million.

Windsor confronts ‘critical’ shortage of warehouse space

Commercial  •  Windsor Star

Due to a shortage of industrial warehouse space, three ships loaded with steel had to be turned away from the Port of Windsor last fall because there was no place to put the many thousands of tonnes of specialized metal.

Sponsored by Vancity Community Investment Bank (VCIB) Building better with Canada’s values-based bank

Vancity Community Investment Bank (VCIB) is Canada’s first values-driven bank. As a Schedule I federally chartered bank, VCIB provides financing, investing, and banking solutions to help purpose-driven businesses thrive. VCIB’s specialized financing supports social-purpose real estate and clean energy projects.

Truck convoy could cost CF Rideau Centre $19.7M

Commercial  •  CTV  •  Ottawa Citizen  •  Ottawa Business Journal

The Retail Council of Canada estimates the seven-day closure of the CF Rideau Centre could cost the downtown Ottawa mall $19.7 million in lost revenue. It will remain closed until at least Sunday as the “Freedom Convoy” protest continues.

Centre Block rehab halted due to truck convoy

Commercial  •  Daily Commercial News

Public Services and Procurement Canada (PSPC) has shut down the Centre Block construction site in Ottawa due to the convoy of truckers protesting vaccine mandates and other public health measures in the city’s core.

Yorkdale Shopping Centre adding more retailers in 2022

Commercial  •  Retail Insider  •  Retail Insider

Toronto’s Yorkdale Shopping Centre boasts the most dense clustering of luxury brands stores in Canada, and more are being added this year as landlord Oxford Properties secures new tenants, including Burberry, Rolex, Marc Jacobs, Läderach, Lucid Motors and Emporio Armani.

Shedpoint gives startup firms space to grow

Commercial  •  Calgary Herald

Shedpoint, a new warehousing community dedicated to helping e-commerce and small industrial companies come together, expand and succeed, is part of a Durum Capital portfolio of Calgary buildings split into 50,000 square feet of warehouse and 10,000 square feet of office space.

Lennard Commercial Realty launches new Ottawa office

Commercial  •  Canada Newswire

Lennard Commercial Realty has launched a new office in Ottawa. Lennard Commercial Realty was founded in 1980 in Calgary, Alberta and by 1983 the first Toronto location was established. Today, it has more than 145 employees in offices across Ontario.

Latest Sustainable Biz Canada headlines

Residential, Commercial  • 

Country Homes uses Schneider Electric’s smart monitor

Unicorn-status Assent focuses on SaaS ESG capabilities

Ken Soble Tower world’s largest EnerPHit retrofit

Canadian Tire chair retiring after 37 years on board

Commercial  •  Globe and Mail (Sub. required)  •  Canada Newswire  •  Toronto Star

Canadian Tire Corp. Ltd. (CTC-T) board chair Maureen Sabia is retiring after 37 years as a director with the company. The Toronto-based retailer announced Tuesday Sabia will retire as chair after its annual meeting of shareholders on May 12.

Cactus Club Cafe founder stepping down

Commercial  •  BC Business  •  Vancouver Sun

After 34 years, Richard Jaffray is stepping aside as an owner and executive of Cactus Club Cafe, the national restaurant chain he co-founded. The Fuller family, who have been silent partners since the company began, will become full owners.

Winzen proposes 31-storey rental/condo

Residential  •  Urban Toronto

Winzen has proposed a Sweeny &Co.-designed ‘L’-shaped slender rental and condominium complex of 10 and 31 storeys at 2405 Lake Shore Blvd. W. on the Western Toronto waterfront. The complex would include 471 suites in a mix of 11 studios, 258 one-bedrooms, 155 two-bedrooms and 47 three-bedrooms.

Starbank proposes 11-storey residential building

Residential  •  Urban Toronto

Starbank Developments 36 Corp has proposed a BDP Quadrangle-designed L-shaped 11-storey residential building at 36 Ellesmere Rd. in Scarborough’s Maryvale neighbourhood. The building would include 187 residential units in a mix of 21 studios (11%), 90 one-bedrooms (48%), 57 two-bedrooms (31%), and 19 three-bedrooms.

Housing prices could plunge 20%: OSFI

Residential  •  Financial Post

The Office of the Superintendent of Financial Institutions, Canada’s federal banking regulator, described the housing market as being in the late stages of a “speculative fever,” and warned prices could plunge by as much as 20 per cent in some markets.

Money-laundering audits fell 64% during pandemic

Residential  •  Global News

Audits conducted by Canada’s anti-money laundering watchdog – the Financial Transactions and Reports Analysis Centre of Canada – plummeted 64 per cent during the COVID-19 pandemic, new figures show. It’s a deeply “troubling” sign for authorities tracking dirty money, financial crime experts say.

Average new T.O. condo nearly $1,500 per sq. ft.

Residential  •  Daily Hive

Condo prices are up in Toronto, and that means the average price per square foot has gone up as well. A new report from Urbanation dug into the GTA condo market at the end of 2021, revealing that the average price per square foot of a new condo in Toronto rose a staggering 17% year-over-year to $1,429.

Van. new house construction costs highest in Canada

Residential  •  Business In Vancouver  •  Toronto Storeys

In Metro Vancouver, the cost to build a standard, no-basement detached house in 2021 ranged from $150 to $275 per square foot, says Altus Group’s Canadian Cost Guide 2022. For a Metro Vancouver custom house, the price range was from $450 to $1,135 per square foot.