Hot Q1 for GTA high-rise land deals, but they could slow

RENX  Residential  •  Apartments, Condominiums, Land  •  Toronto / GTA

Fifty-one apartment and condominium land transactions took place in the Greater Toronto Area (GTA) in the first quarter of this year, well above the norm of 30 to 35 such trades.

Abrupt cancelling of $18M land deal stuns Port Hope

Commercial  •  Toronto Star

A land deal — two years in the making — between Port Hope and the Ontario Power Generation to acquire 1,334 acres of unused Crown land along Lake Ontario was terminated by the province in favour of the Centre of Realty Excellence (CORE).

Shopping centre landlords adding density to sites

Commercial  •  Retail Insider  •  Sustainable Biz Canada

More developers are finding the benefit of increasing density on their properties. The latest is CF Lime Ridge in Hamilton where Cadillac Fairview intends to build two 12-storey towers with 320 residential units as it also redevelops former Sears space in the mall.

The People Space › People Space: KingSett, Chartwell, Link, Allied make senior moves…

Don Wilcox: Managing Editor

Rising costs spook Toronto developers: Experts

Residential, Commercial  •  Daily Commercial News  •  RENX

Project cancellations may be imminent as spikes in both hard and soft constructions costs plague the Ontario construction sector, delegates attending the 2022 Land and Development Conference in Toronto on June 7 were warned.

Sponsored by Innerspace Apply the science of indoor space to your office transformation

Real estate teams looking to right-size offices as hybrid workstyles take hold often have more questions than answers about the space. See how some companies are using space utilization data to inform their decisions about the office’s evolving needs.

L.A.’s OVG heads up Hamilton arena renovation

Commercial  •  Globe and Mail

Los Angeles-based Oak View Group (OVG) will be leading the way as FirstOntario Centre (formerly Copps Coliseum) is brought up to 21st-century standards as part of the City of Hamilton’s vision for a new multimillion-dollar sports, entertainment and cultural district.

Marvell plans ‘significant’ Canadian expansion

Commercial  •  Ottawa Business Journal

Wilmington, Del.-headquartered Marvell (MRVL-Q) plans to launch a “significant expansion” of its Canadian footprint that will see it build out its offices in Ottawa, Toronto and Vancouver as it develops cutting-edge semiconductor technology for the cloud, 5G and automotive markets.

Ros-Bay proposes 10-storey condo in Etobicoke

Residential  •  Urban Toronto

Ros-Bay Developments has proposed a 10-storey condo at 1048 Islington Ave. in central Etobicoke. The IBI Group-designed building would include 175 residential units in a mix of 124 one-bedrooms (71%), 32 two-bedrooms (18%), and 19 three-bedrooms (11%).

TCU breaks ground on six-storey Ottawa mixed-use

Residential, Commercial  •  Canada Newswire

TCU Development Corporation recently broke ground at 1155 Joseph Cyr, a mid-rise mixed-use rental development in Ottawa’s Beacon Hill-Cyrville neighbourhood. The six-storey building will include 116 residential units – a mix of studio, one-bedroom and two-bedroom suites – and one commercial unit.

nidus3D house-printing platform saves on emissions

Residential  •  Sustainable Biz Canada

A 3D construction printing company — nidus3D — based in Kingston, Ont., says it can offer a solution to the affordable housing problem in Canada while demonstrating a more sustainable model for the housing industry.

Retailers brace for a tapped-out consumer

Commercial  •  Globe and Mail

Mounting anxiety lurks in the retail sector. In addition to the problems that have dragged on for months – rising costs for raw materials and for transporting goods to store shelves – new factors are further complicating many companies’ operations.

Blackstone targets $25B for fund to beat inflation

Commercial  •  Bisnow

Blackstone has raised capital for a new global real estate fund that has an equity target of $25 billion and will look to buy assets in sectors that have the potential to beat the high rates of inflation.

Property values fall across U.S., Europe

Residential, Commercial  •  Bloomberg

The U.S. and European real estate markets are experiencing a downwards shift in prices as buyers fall away, according to the global chief investment officer of Hines, one of the largest closely held real estate investors in the world.

California office owners tapped out by drought

Commercial  •  Bisnow

Drought is so ubiquitous in California developers and property owners say they’re running out of options to reduce water usage at office properties without making significant investments that are difficult to stomach with reduced property occupancies and stagnant rental rates.

Fake architect sign-off alleged at Hudson Yards tower

Commercial  •  Bisnow  •  The Real Deal

Marx Development Group may be in hot water over several developments, after an investigation found some of its highest-profile projects – including the 51-storey Hudson Yards hotel – may have faked oversight by a registered architect.

Private lender Magenta suspends applications until fall

Residential  •  Globe and Mail (Sub. required)

Magenta Capital Corp., one of Canada’s largest private mortgage lenders, has suspended new loan applications until September. It’s an unexpected move for a lender that has grown rapidly during the pandemic’s real estate boom.

B.C. home sales drop 35%

Residential  •  Financial Post  •  CTV

While the province’s average home price climbed more than nine per cent year-over-year to just over $1 million according to data from the British Columbia Real Estate Association, it was down six per cent from the $1.065 million recorded in April.

Investors, buyers see value in manufactured homes

Residential  •  Western Investor

Manufactured homes are selling quickly and for all-time high prices in Metro Vancouver and across B.C. this year but remain the most affordable detached houses on the market, according to data from Royal LePage Westside Klein Group.

Ottawa considers inclusionary zoning proposal

Residential  •  Ottawa Citizen

Years in the making and contentious already, city staff have unveiled a proposed framework to get private sector developers to deliver more affordable housing through a new-to-Ottawa planning tool called inclusionary zoning.