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Toronto's office space oversupply could persist for 20 years
Toronto's office space oversupply could persist for 20 years
The Greater Toronto Area (GTA) is likely to experience an oversupply of office space for the next 20 years, according to a new Altus Group Economic Consulting report titled Office Needs and Policy Direction in the GTA.
Trophy office towers widening gap from the pack: AY
Trophy office towers could be anchored atop the market for the long term as the past decade’s wave of new building subsides and little further development is anticipated, says Nick Axford, chief economist with Avison Young.
Mtl. office vacancy rates could reach 25%: AY
Office vacancy rates in downtown Montreal could approach 25 per cent in the next two years as employers shrink their footprints and new buildings are delivered, according to a new forecast by Avison Young.
 | Forging Hamilton Hamilton CRE transactions slow in Q1, but downtown is hotAlex ManojlovichDirector, Strategy and Research, Forge and Foster |
Condor seeks MZO for five-building Brampton project
In Brampton, Condor Properties has requested a Minister's Zoning Order to redevelop 545 Steeles Ave. W., with five buildings from eight to 35 storeys. The Arcadis-designed project would include 1,227 residential units, a grocery store and 1,560 parking spaces.
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Resurrecting office retail spaces in downtown Van.
Retailers could be forgiven for not wanting to lease space in downtown Vancouver office buildings. The city’s downtown office vacancy rate sits at a 19-year high and is above 10 per cent for the first time since 2004.
Northview has seen its stock price tank even as rents go up
The Northview Canadian High Yield Residential Fund (NHF-UN-T) — a major residential landlord in the North, owning the lion's share of private, multi-unit rental housing in Yellowknife and Iqaluit — has seen its stock drop in value in recent months.
Self-storage investments heat up in Alberta
More self-storage facilities are popping up across Alberta. Store & Go, at 1216 10th Ave. S.W. in Calgary, was an early office conversion by Strategic Group in 2017. Ken Toews, Strategic Group's senior vice-president of development, says it's a bustling place.
Edmonton CRE investment on the rise: RE/MAX
Investment in Edmonton’s commercial real estate market this year posted one of its “strongest” first quarters, according to a RE/MAX report. It indicates the industrial sector leads the way due to the region's affordability and young labour force.
Flames arena deal to include 35-year commitment
A city official says a $1.2-billion deal to replace Calgary’s aging Saddledome with a new NHL arena would come with a 35-year lease that includes a commitment from the Calgary Flames owners to stay in the city.
Happi, R-Hauz partner on sustainable backyard homes
Newly launched Toronto company Happi Builds says it can address the housing and climate crises by supplying prefabricated, green homes for backyards. It starts by being the exclusive supplier of prefabricated accessory dwelling units from Toronto-based R-Hauz.
Tax watchdog questions Brookfield’s tax transparency
A report from international tax watchdog Centre for International Corporate Tax Accountability and Research raises questions around Canadian asset management giant Brookfield Corp., accusing the firm of “dodging” taxes around the world. Brookfield disputes the claims.
AIMCo sets up in Singapore with hire of GIC exec
Alberta Investment Management Corp. (AIMCo) has hired former GIC veteran Kevin Bong to oversee its investment strategy globally while leading its recently established Singapore operations. AIMCo appointed Bong senior managing director, chief investment strategist and head of Singapore.
Artemis closes $2.2B real estate fund
Washington, D.C.-based investment firm Artemis Real Estate Partners just closed its latest real estate vehicle, Artemis Fund IV, with $2.2 billion in commitments, more than double its previous largest fund and far exceeding its $1.5 billion target.
More than half of U.S. hotel development halted
Well over half of U.S. hotel projects that broke ground or were in pre-construction this year are now on hold, largely due to more stringent lending standards making it harder to secure funding.
IMF warns Canada at highest risk of mortgage defaults
The International Monetary Fund flagged Canada, Australia, Norway and Sweden at greatest risk of mortgage defaults among advanced economies. The IMF used data from the Organisation for Economic Co-operation and Development, a group of 38 economies.
Most homebuyers waiting for mortgage rates to drop
The housing market may be heating up again, but most Canadians are still waiting on the sidelines for mortgage rates to drop, with some giving up on the idea of buying a home entirely, BMO's Real Financial Progress Index reveals.
Montreal home sales down eight per cent year-over-year
The Quebec Professional Association of Real Estate Brokers (QPAREB) says Montreal home sales were down eight per cent year-over-year in May but showed signs of picking up from recent lows. April sales were down 26 per cent year-over-year.
T.O.’s rapid program yet to build a single home
Construction hasn’t started anywhere across Toronto’s 21-site Housing Now initiative, touted as its “signature” affordable housing program. It means the promised lower-cost homes are still out of grasp in a city where rents continue their uphill climb.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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