Low Tide plans Vancouver life sciences building

RENX  Commercial  •  Office  •  Metro Vancouver

Vancouver-based real estate company Low Tide Properties continues to solidify its presence in the life sciences space with plans to bring another building to the market in the city’s False Creek Flats neighbourhood.

Madison Group’s ALiAS is underway, with more to come

RENX  Residential  •  Condominiums  •  Toronto / GTA

Madison Group’s ALiAS Condos has broken ground with more than 90 per cent of its units sold, as the developer continues to steadily work through its Toronto pipeline.

Ontario to cut development fees on affordable housing

Residential  •  Toronto Star

Ontario Premier Doug Ford is poised to eliminate development charges on “inclusionary zoning” projects, which the government hopes will encourage more affordable rental housing to be built, but could adversely affect municipal coffers.

Royop, Co-op building Calgary mixed-use project

Residential, Commercial  •  Retail Insider  •  Calgary Herald

Calgary Co-op will replace its North Hill Calgary store in 2023 with a multi-use, two-phase project with developer Royop. It will include a 42,000-square-foot Co-op store, a liquor store, a cannabis shop and a car wash in addition to 180 residential units.

H&R eyes mixed-use conversion for heritage building

Residential, Commercial  •  Urban Toronto  •  RENX

H&R REIT (HR-UN-T) proposes to convert a 15-storey Beaux Arts-era office building in Toronto’s Financial District into a 21-storey mixed-use. The PARTISANS-designed proposal for 69 Yonge St. would include 127 dwelling units and a new restaurant, while maintaining existing retail space.

Two-tower DUO Condos breaks ground in Brampton

Residential, Commercial  •  Business Wire  •  RENX

Capping the remarkable sales success at DUO Condos in Brampton by National Homes and Brixen Developments Inc, the construction phase of the two-tower condominium has officially begun. The 2.6-acre transit-oriented community will comprise 800 units with commercial space at grade.

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Rising costs, labour shortages handcuff N.S. rebuild

Residential, Commercial  •  Globe and Mail (Sub. required)

The desire to quickly rebuild after post-tropical storm Fiona is running up against challenges that existed before the hurricane-force winds left a trail of destruction in Nova Scotia: the rising cost of construction material and widespread skilled-labour shortages.

Interfor buying N.B.’s Chaleur Forest Products for $325M

Commercial  •  Globe and Mail (Sub. required)

Interfor Corp. (IFP-T) has deal with an affiliate of the Kilmer Group to buy Chaleur Forest Products for $325 million. Chaleur owns sawmill operations in Belledune and Bathurst, N.B., with a combined annual lumber production capacity of 350 million board feet.

GGA Architecture reflects on nearly 40 years in Calgary

Residential, Commercial  •  Calgary Herald

Calgary’s Gibbs Gage Partnership, which has become one of the Western Canada’s largest architecture, interior design and urban design companies over nearly 40 years, recently announced its rebranding as GGA Architecture at The Ampersand office complex which it remodelled and renovated.

Gairloch builds mid-rises with CLT, recycled materials

Residential  •  Sustainable Biz Canada

Emory acquires $196K worth of Allied shares

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

On Sept. 26, founder, trustee, president and CEO Michael Emory bought 7,200 Allied Properties REIT (AP-UN-T) units at a cost per unit of $27.2483 for Prophet Corp., an account in which he has indirect ownership. The cost of this purchase totaled over $196,000.

Return to office sentiment heats up in U.S. : BOMA

Commercial  •  Commercial Property Executive  •  Business Wire  •  Bisnow

Office tenants across the U.S. are seeing both more value and importance in their physical space year-over-year, with widespread returns to the office being more prominent in some sectors than others, according to the Building Owners and Managers Association (BOMA).

Manhattan office leasing jumps; availability, rents drop

Commercial  •  The Real Deal

Despite continued uncertainty about workers returning to their desks, Manhattan’s office market appears to be gaining momentum. Office leasing volume surged in the third quarter as the borough’s availability rate dropped to its lowest level in 18 months, according to Colliers.

Investor backs out of $1.75B deal for Credit Suisse HQ

Commercial  •  Bisnow

A Korean investor has pulled out of a deal to buy the Zurich HQ of Credit Suisse, the Swiss-based global investment bank beset by speculation about its future. A KB Securities/IGIS JV was the front-runner to buy the two-building campus.

London’s Battersea Power Station reborn as hub

Commercial  •  Canada.com  •  Bisnow

London’s Battersea Power Station reopens next week as a glitzy hub of offices, flats, restaurants and shops after decades of failed attempts to reinvigorate one of the capital’s most iconic buildings, often described as the “Everest of real estate.”

Canada’s housing crisis is just beginning: Tal

Residential  •  Bloomberg  •  Toronto Star  •  Globe and Mail (Sub. required)

The recent cooldown in Canada’s housing sector doesn’t mean prospective homebuyers can look forward to affordable shelter in the future, Benjamin Tal, the deputy chief economist at CIBC, said in a TV interview Tuesday.

Lack of skilled labour hampers housing supply: CMHC

Residential  •  Canada Newswire

At the current pace, there is insufficient labour capacity to address the significant housing supply gaps, mainly in Ontario and B.C., according to Canada Mortgage and Housing Corporation’s (CMHC) report Labour Capacity Constraints and Supply Across Large Provinces in Canada.

Ottawa home sales drop 33 per cent year-over-year: OREB

Residential  •  CTV  •  Ottawa Business Journal

Ottawa saw a 33 per cent year-over-year decrease in home sales in September, as rising interest rates continued to cool the market. The Ottawa Real Estate Board says 1,080 residential properties sold in Ottawa last month, down from 1,601 properties in September 2021.

Mtl. sees lowest September sales since 2013: QPAREB

Residential  •  Toronto Star  •  Montreal Gazette  •  Globe Newswire

The Quebec Professional Association of Real Estate Brokers (QPAREB) says Montreal’s September home sales dropped to their lowest level for the month since 2013 as the market continued to cool. The region recorded 2,537 sales last month, a 30 per cent year-over-year decrease.