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Scarborough Centre ripe for development; this site could start it
Scarborough Centre ripe for development; this site could start it
Scarborough Centre is ripe for major development and Colliers is marketing a property zoned for a high-density project which could get the ball rolling. The Progress Ave. site is in an area anchored by the 1.6-million-square-foot Scarborough Town Centre mall.
Maître Carré plans Mellem apt. builds in Mtl., Gatineau
Housing developer Maître Carré, building on the success of its first Mellem rental housing development in Brossard, plans two additional purpose-built rentals under the brand in Montreal and Gatineau.
Reliance buying 147K-sq.-ft. Vic West office complex
• Victoria Times Colonist • RENX
Reliance Properties has acquired the 147,302-square-foot Upper Harbour Place buildings in Vic West. Sun Life Assurance Company of Canada had listed the class-A office space for sale through Colliers Macaulay Nicolls Inc. since April. Financial terms were not disclosed.
Starlight pulls out of deal to take over Winnipeg mall
• CBC • Winnipeg Free Press • RENX
A proposed deal that would have seen Toronto developer Starlight Investments rejuvenate the Portage Place mall in downtown Winnipeg appears to be dead. Lawyers for Starlight have said that they are unable to proceed with the purchase of the mall.
New industrial park in works north of Regina
Siemens Transportation Group‘s 84-acre Pasqua Business Park, just north of Regina’s city limits, will include a terminal for Kindersley Transport as well as a 40,000-square-foot warehouse. Siemens is subdividing the rest of the land into 20 lots starting at $180,000 per acre.
DHL Express opens $100M Hamilton gateway facility
DHL Express officially opened its doors to its new facility at the John C. Munro Hamilton International Airport. The company invested $100 million to build the new facility, four times the size of the original building located at the airport.
Vandyk appoints PCL for T.O.’s Grand Central Mimico
• Vandyk Properties media release • RENX
Vandyk Properties announced PCL Construction as the official construction manager of record for the master-planned, transformational community of Grand Central Mimico, a two-million-square-foot-plus mixed-use development marking the first binding agreement between Metrolinx and a developer.
Streetcar proposes 12-storey mixed-use in Riverdale
Streetcar Developments has proposed a 12-storey mixed-use building at 21 Broadview Ave. in Riverdale. The proposal, designed by Danish architecture firm CEBRA in conjunction with Kasian, also includes 15 three-storey townhouse units. ground-floor retail and a 5,015-square-foot public park.
Pandemic has not slowed down Halifax construction
Numerous construction cranes are swinging over Halifax as the hot construction pace continues. Duncan Williams, president of the Construction Association of Nova Scotia, says residential construction, sometimes with retail and office components, is a major driver for the boom.
Greater Victoria Harbour Authority loses $1.1M
With the cruise industry shut down in Canada, the Greater Victoria Harbour Authority saw a near $9-million hit to its cruise-ship revenue leading to a $1.1-million loss for the fiscal year ended March 31. The authority owns and operates waterfront properties.
Bed Bath & Beyond just tanked 29%
Bed Bath & Beyond Inc. (BBBY-Q) plunged after a slowdown in store traffic and unrelenting supply chain challenges led the home-goods company to cut its forecast, an ominous sign for the retail industry ahead of the all-important holiday shopping season.
Robot waiters serve Richmond, Island diners
• Western Investor • CTV
Robot waiters that lease for less than $1,000 a month have rolled into B.C. restaurants from Richmond to Vancouver Island as the hospitality industry reacts to a severe staff shortage. The new robot server at Nanaimo’s Driftwood Restaurant has big round eyes.
Brookfield lands 500-KSF tenant in Metro Dallas
• CP Executive • Commercial Observer
Good Sportsman Marketing has inked a new lease at Brookfield Properties’ Passport Logistics Center in Irving, Texas. The company will occupy Building 200, a 494,238-square-foot facility within the class-A 1.2-million-square-foot-plus business park.
FirstService acquires Fla. condo management division
FirstService Corporation (FSV-T) announced FirstService Residential, a North American property management leader, has acquired the Condominium Association Management Division of Atlantic | Pacific Companies, a fourth-generation real estate organization in South Florida. Terms were not disclosed.
Chinese energy crisis could disrupt global supply chain
• Globe and Mail (Sub. required) • Globe and Mail (Sub. required)
Analysts are concerned knock-on effects of the power crisis could affect the wider Chinese economy, potentially dwarfing any problems resulting from the collapse of real estate giant Evergrande, which has dominated headlines in the last month.
Evergrande says work resumed on 46 Chinese projects
• Business Insider • Globe and Mail
In an attempt to shore up confidence in its business, beleaguered Chinese real estate giant Evergrande has made several posts on its official social media accounts over the last week, claiming work is resuming on its unfinished construction projects.
Investors are gobbling up Canadian homes
The people piling into Canada’s red-hot housing market fastest already own a home. In the 12 months through June, the number of people adding a fourth mortgage or more surged 7.7 per cent, more than doubling the increase for first-time borrowers.
As cities reopen, are homeowners coming back?
When the pandemic upended the lives of Canadians, many city dwellers fled to small, charming towns, while suburbanites traded their backyard swimming pools for lakeside cottages. This summer, some are taking stock of their lifestyles and surroundings once again.
‘Bank of mom and dad’ returning us to inheritance culture
OPINION: Realtors recommending the “Bank of mom and dad” sounds harmless and all-in-the-family, but the large-scale transfer of inter-generational wealth is a sign this country is reverting to the harsh class system that once dominated Britain, France and Russia.
Homeowners do better financially than renters: Study
A recent study by housing market analyst Will Dunning found, for those who are able to secure a sufficient down payment, it is more financially beneficial to buy a home in Canada than to rent over the long term.
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Canada Real Estate Auction
Oct 22 2024
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Oct 29 2024
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