Firms ‘desperate’ to retain talent seek premium offices

RENX  Commercial  •  Office, Human Resources  •  National, Greater Montreal

Office spaces in Montreal that are getting the most traction from high-quality tenants are well-connected to transit, offer a high number of amenities and state-of-the-art HVAC and building systems, said Erica Deschênes, associate vice-president of CBRE in Montreal.

Developer seeks fast track for 30-storey Vancouver hotel

RENX  Commercial  •  Hotels and Resorts  •  Metro Vancouver

Developer Paul Y. Construction is asking the City of Vancouver to consider an expedited approval process for a 30-storey hotel development at 848 Seymour St., which would bring much-needed hotel stock to the downtown.

Infosys opens new office, will double Calgary workforce

Commercial  •  Calgary Herald  •  Infosys media release

Infosys will bring 1,000 jobs to Calgary over the next two years, it announced as it prepared to open its new office Monday. Infosys, which offers next-generational digital services and consulting, is located in Gulf Canada Square at 401 – 9th Avenue S.W.

Insurance claims from Fiona could reach $700M

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

The total cost of damages from post-tropical storm Fiona has yet to be determined but estimated losses could range between $300 million to $700 million of insurance claims, said Marcos Alvarez, the head of insurance of DBRS Morningstar.

Cinespace to lease PortsToronto’s Marine Terminal 52

Commercial  •  Canada Newswire

PortsToronto today announced Cinespace Studios (Cinespace) has entered into a 30-year lease for Marine Terminal 52 to develop a studio facility that will support Toronto’s successful and growing media production business.

Sponsored by Chamber of Commerce of Metropolitan Montreal Downtown Montréal: Some reflections on new ways of defining its workplace environments

Discover how Downtown Montréal is defining its workplace environments in new ways through space sharing, hybrid work, and office design.

150K-sq.-ft. manufacturing plant coming to Edm. area

Commercial  •  Western Investor

Officials at Boston-based Orbia’s Connectivity Solutions business Dura-Line are retrofitting an existing building to create a 150,000-square-foot state-of-the-art facility in St. Albert, Alta., and has plans to hire as many as 90 full-time employees over the next nine months.

Charbone Hydrogen leasing Halifax office space

Commercial  •  Canada Newswire

Charbone Hydrogen Corporation (CH-X) announced an agreement to lease an office space and associated office services with The PIER at the Halifax Seaport. The PIER is a sector-focused living lab for maritime transportation and logistics.

Kelowna approves next phase of Westcorp’s mixed-use

Residential, Commercial  •  Castanet  •  RENX

Kelowna city council Monday approved a development permit for the next phase of Edmonton-based Westcorp’s Ledge on Lakeshore, a 17-storey and two 10-storey building mixed-use under construction on the 18-acre former Hiawatha Home Park site.

Approval delays add up to $50K to GTA condos: BILD

Residential  •  STOREYS  •  Globe Newswire

A new report from the Building Industry and Land Development Association (BILD) claims lengthy approval times have added up to $50,000 to the price of condo apartments since 2020.

Rowbry proposes five mixed-use buildings

Residential, Commercial  •  STOREYS

Rowbry Holdings Ltd. has proposed five mixed-use towers, ranging from 13 to 49 storeys in height, at 1075, 1077, and 1083 Leslie St. in Toronto. The towers would contain 1,846 condos – 1,197 one-bedroom, 466 two-bedrooms and 183 three-bedrooms – along with 6,082 square feet of retail space.

Rockport plans 12-storey mixed-use in Islington Village

Residential, Commercial  •  Urban Toronto

Rockport Group proposes a 12-storey mixed-use development at 4884-4896 Dundas St. W. in Toronto’s Islington Village. The Graziani + Corazza Architects-designed building would stand 157 feet tall and offer 225 residential units – 12 studios, 100 one-bedrooms, 90 two-bedrooms and 23 three-bedrooms – and ground-floor retail.

India to account for 5-10% of Teachers’ assets: CEO

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

India will account for 5-10 per cent of Ontario Teachers’ Pension Plan’s assets in the next 15-20 years, as the Canadian fund looks to expand investments in areas such as infrastructure, health care and renewables, CEO Jo Taylor told Reuters on Tuesday.

Morguard REIT completes acquisition in Maryland

Commercial  •  Canada Newswire

Morguard North American Residential REIT (MRG-UN-T) has acquired the retail portion of Rockville Town Square in Rockville, Md. Morguard, which purchased Fenestra Apartments in 2017, acquired the remaining retail for US$33 million.

K2 Group acquires Niagara Falls, N.Y., Holiday Inn

Commercial  •  PR Newswire

Canadian investment firm K2 Group has acquired the Holiday Inn Express & Suites at 10111 Niagara Falls Blvd. in Niagara Falls, N.Y. It’s the fifth Niagara Region hotel, and first U.S. hotel, for K2 Group’s growing portfolio.

VM Hotel agrees to acquire The Pyure Company

Commercial  •  Canada Newswire

VM Hotel Acquisition Corp. (VMH-U-T) has entered into an agreement to acquire all of the issued and outstanding shares of Boynton Beach, Fla.-based air purification technology company The Pyure Company Inc., which would qualify as VMH’s qualifying acquisition.

Average Toronto condo up 43% from early 2021

Residential  •  Daily Hive

According to the latest Bullpen Research & Consulting and TorontoRentals.com Toronto GTA Rent Report, the average monthly rent for a condo was $2,963 in August. That is a 43% increase from the below-$2,100 average seen in early 2021, the lowest COVID-related dip in prices.

Inequities contribute to housing crisis: OREA

Residential  •  Globe Newswire  •  Toronto Star

The housing affordability crisis is disproportionately affecting BIPOC and LGBTQ2S+ communities who experience higher barriers. according to Fighting for Fair Housing, a new report from the Ontario Real Estate Association (OREA) looking at diversity, equity, and inclusion in housing.

KING Toronto mixed-use expected to complete in 2024

Residential, Commercial  •  Globe and Mail

Westbank and Allied Properties REIT‘s KING Toronto development, expected to be completed in 2024, will be a 600,000-square-foot, mixed-use project taking up a block of former industrial land. BIG and Toronto’s Diamond Schmitt Architects are also assisting in the project.

How much you need to earn to afford an Ottawa home

Residential  •  CTV  •  Financial Post

A new report from RateHub.ca shows homebuyers will need to earn at least $129,980 to meet the requirements to obtain a mortgage for the average priced home in Ottawa, with a 20 per cent down payment.