Minto Apt. REIT acquires 753 units in Toronto, Calgary

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

Minto Apartment REIT (MI-UN-T) has acquired interests in 753 multiresidential rental suites at two downtown properties, the new Niagara West tower in Toronto and The International in Calgary, for $201 million.

Main + Main building 2-tower downtown Ottawa project

RENX  Residential, Commercial  •  Retail, Apartments  •  Ottawa

The team behind an upscale mixed-use development in downtown Ottawa remains bullish after weathering two years of challenge and disruption.

Developers slam Mtl.’s handling of redevelopment

Residential, Commercial  •  Montreal Gazette

Montreal developers Devimco Immobilier, Mach Group and Coprim launched a broadside against the Plante administration, saying the city is taking too long to redevelop the Bridge-Bonaventure area – a 2.3-square-kilometre mostly industrial zone – and has greatly underestimated its housing potential.

Sheraton giving Canadian flagship properties a facelift

Commercial  •  PR Newswire

Sheraton Hotels & Resorts is debuting its new modernized look with extensive renovations at three flagship properties in Canada – Sheraton Gateway Hotel in Toronto International Airport, Sheraton Centre Toronto Hotel and Le Centre Sheraton Montreal Hotel.

Vail Resorts invests in Whistler employee housing

Residential, Commercial  •  Canada Newswire

Vail Resorts (MTN-N) announced four investments to provide accessible and affordable housing for 875 of its employees at Park City Mountain in Utah, Whistler Blackcomb in B.C., Vail Mountain in Colorado and Okemo Mountain Resort in Vermont.

Sponsored by Colliers Life Sciences as the new disruptor in GTA real estate

Life Science companies require sophisticated properties and sophisticated owners who understand the complex needs of Life Science occupiers.

Mocon Group proposes 27-storey mixed-use

Residential, Commercial  •  Urban Toronto

Mocon Group proposes a 27-storey mixed-use at 6125 Yonge St. in Toronto’s Newtonbrook neighbourhood. The ZAS Architects-designed building would include 391 condominium units – 25 studios, 269 one-bedrooms, 96 two-bedrooms and one three-bedroom suite – plus 34,000 square feet of commercial space.

10-home block for sale near Edmonton’s river valley

Residential  •  CBC  •  Edmonton Journal

A group of residential property owners have teamed up to list a block of 10 homes near Edmonton’s river valley for $12.5 million. The properties are zoned RF2 low-density infill, which allows only single-detached, semi-detached and duplex residential housing.

Demand for GTA child-care space through the roof

Commercial  •  Toronto Storeys

Colliers’ data team has closely monitored the day-care sector’s real estate habits in the GTA and has ascertained demand is extremely robust, but supply-side opportunities aren’t commensurate. Part of the reason is safety requirements aren’t always easy to satisfy.

Real World of Real Estate › Podcast: Passive House sustainable building design

Gerald Tostowaryk:

B.C. builders unimpressed by budget

Residential, Commercial  •  Western Investor  •  Globe and Mail (Sub. required)  •  Financial Post

B.C. development groups are finding little to cheer about in the budget. “The federal budget falls short on investments in critical infrastructure that is essential for the health and well-being of all Canadians,” B.C. Construction Association president Chris Atchison said.

Lennard Commercial opens new office in Waterloo

Commercial  •  Canada Newswire

Lennard Commercial has recently expanded into the Waterloo region and Guelph area. This extension signifies the brokerage’s ongoing reach and growth across Ontario, providing specialized experience and creative solutions to a range of individuals and clients.

CPP, TATA Realty announce $800M Indian office JV

Commercial  •  Canada Newswire  •  Toronto Star

CPP Investments and TATA Realty and Infrastructure Limited today announced a new joint venture to develop and own commercial office space across India. The joint venture will target stabilized and development assets, aiming to reach $800 million in assets under management.

HBC, Convene create largest premium flex space firm

Commercial  •  Business Wire

Under a HBC-led recapitalization plan, Convene will operate HBC’s portfolio of flexible work, event, restaurant and meeting spaces. The entity, with 26 facilities under management and dozens under development, is expected to be the world’s largest premium flex space operator.

BGO, East End sell Miami Beach office bldg. for $52M

Commercial  •  The Real Deal

East End Capital and BentallGreenOak sold a Miami Beach office building for $52.3 million. An entity tied to Boston-based The Davis Companies bought the four-storey property which consists of 46,000 square feet of class-A office space and 22,000 square feet of ground-floor retail.

Inovalis acquires two Spanish office buildings

Commercial  •  Business Wire

Inovalis REIT (INO-UN-T) has entered the Spanish market with the purchase of two connected office buildings in Alcobendas. The high-quality office buildings, with approximately 118,400 square feet of leasable space, are fully let to two blue-chip tenants from the aeronautical sector.

Empty Homes Tax rise doubled Van. revenues

Residential  •  Daily Hive

The increase of the City of Vancouver’s Empty Homes Tax (EHT) rate in 2021 led to a doubling of revenue – to over $32 million – on properties declared vacant, according to the office of Mayor Kennedy Stewart.

Airbnb ghost hotels popping up again in Toronto

Residential  •  blogTO

Toronto short-term rental vacancy rates reached record highs during the pandemic in 2020, especially at condo buildings housing Airbnb “ghost hotels” — often smaller, minimally furnished units rented out on a perpetual basis. Listings dwindled, but they’re on the way back up.

Ont. lakeside towns push to regulate short-term rentals

Residential  •  CBC

There’s a growing movement among Ontario lakeside communities to push back against short-term rental services some say are disrupting the social fabric of their close-knit rural communities to the point where it could upend their way of life.

Made-in-Ont. framework needed to tackle housing: Report

Residential  •  Daily Commercial News  •  Globe and Mail (Sub. required)

All three levels of government and the development sector have a critical role to play in tackling the housing crisis, according to a new report prepared by the Association of Municipalities of Ontario (AMO).