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Brivia launching Vancouver, Montreal developments
Brivia launching Vancouver, Montreal developments
Brivia Group has launched the second phase of its $1.2 billion 1 Square Phillips development in downtown Montreal and hopes to launch what it says will be the world’s tallest Passive House building this fall in downtown Vancouver’s West End.
Brampton, Canmore multires acquired by Boardwalk
Boardwalk REIT (BEI-UN-T) has acquired two multiresidential properties, in Canmore, Alta., and Brampton in the Greater Toronto Area, adding 300 rentals to its portfolio for a combined price of $117.5 million.
$580M life-science facility coming to Hamilton
• Globe and Mail (Sub. required)
Ontario says it will provide a $40-million loan to the Centre for Commercialization of Regenerative Medicine for its planned $580-million Hamilton facility where life-science companies can develop and commercialize cell and gene therapies.
Burnaby’s proposed master plan includes five towers
Burnaby has released a proposed master plan for the Edmonds neighbourhood that could see five towers with as many as 2,818 new homes. Burnaby is looking to partner with BC Housing on four properties slated for redevelopment.
Charity makes $100M acquisition of Vancouver property
Fundraising charity VGH & UBC Hospital Foundation has entered the real estate investment market, acquiring a 1.4-acre Vancouver property for $100 million. The site comprises the 14-storey, 207-bed long-term care facility Windermere Care Centre and a three-storey, 26-unit rental apartment building.
Blueprint approved for $1.5B expansion of B.C. resort
• CBC
The Fraser Valley Regional District has approved an official community plan for the Hemlock Valley, which lays out a 15- to 20-year $1.5 billion growth plan for Sasquatch Mountain Resort near Harrison, B.C.
B.C. looks to buy land for TODs
• Globe and Mail • Victoria Times Colonist
B.C. is making changes that would allow for the purchase of land along transportation hubs for housing, schools, commercial services and other mixed-use development. Currently, the BC Transportation Financing Authority is only able to buy land for transportation projects.
Dream Residential files preliminary prospectus for IPO
Dream Residential REIT has filed, and obtained a receipt for, a preliminary long-form prospectus from the securities regulatory authorities in each of the provinces in Canada in connection with the proposed initial public offering of units of the REIT.
T.O.’s famed Reichmann family headed back to court
They fled the Nazis and then built a real estate empire that transformed Toronto skylines. However, ever since the Reichmanns’ commercial real estate business went broke, their legacy has been marred by a web of increasingly complex and bizarre lawsuits.
Suncor takes Quebec to court over REM expropriations
Suncor dragged Quebec to court and scorched the Caisse de dépôt et placement du Québec and the Société de transport de Montréal in the process over the expropriation of three of its gas stations on the island of Montreal.
BTB REIT acquires Ottawa industrial bldg. for $12.5M
• Canada Newswire • RENX
BTB REIT (BTB-UN-T) has acquired an industrial property at 1100 Algoma Rd. in Ottawa. The property, 100 per cent leased to Ontario Medical Supply, was acquired for $12.5 million, houses 46,400 square feet of leasable area and is well-located in Saint-Laurent industrial park.
Downtown Winnipeg office building listed for $2.4M
A downtown office building designed by Green Blankstein Russell and Associates, one of Winnipeg’s most prominent architecture firms, is listed at $2.4 million. The two-storey building has two 4,500-square-foot spaces and one 1,500-square-foot space available to lease for $14 per square foot.
Green energy firm PACE Canada to move HQ to Calgary
• Calgary Herald • Globe Newswire
Pace Canada, a U.K. company specializing in green energy, is moving its corporate Canadian headquarters from B.C. to Calgary. Pace has two solar projects in development in the province — a 47-megawatt project and an eight-megawatt project.
Wētā FX to open Vancouver VFX studio
Visual effects company Wētā FX is headed to Vancouver, launching its first satellite studio outside of Wellington, New Zealand. The company’s first step: to hire 75 employees, with plans to add more down the road.
Ingenium museums cater to office-shrinking companies
Ingenium, the Crown corporation that oversees three national museums in Ottawa, has just launched a new program where. corporate partners are given access to the museums’ spaces to hold collaborative meetings, off-site retreats, team-building sessions or industry conferences.
Top 10 largest construction project starts
There are several reasons for highlighting upcoming large projects. Such jobs have often received a fair amount of media coverage. Therefore, people in the industry are on the lookout for when job-site work actually gets underway.
Montreal home prices surged in March as sales dropped
• Toronto Star • Globe Newswire • Globe Newswire
The Quebec Professional Association of Real Estate Brokers says last month’s Montreal home prices crept up by an average 17 per cent from last year as sales fell by almost 10 per cent.
Buyer fever abates west of Toronto
• Globe and Mail (Sub. required)
Much of the urgency in the Ontario market in April appears to be coming from the sellers. In the Greater Golden Horseshoe, the zone that curves around Toronto, listings are rising ahead of the upcoming Easter and Passover holidays.
Average Ottawa home price tops $850,000
• CTV • Ottawa Business Journal • Ottawa Citizen
The average price of a home in Ottawa rose to $853,615 last month, another record as low inventory continues to drive prices higher. That represents a 13 per cent increase year-over-year and is $16,000 higher than February, says the Ottawa Real Estate Board.
Failed firm used ‘new money to pay old money’: Lawyer
• CTV
Saskatoon lawyer Mike Russell says he didn’t know what he would find when he first started looking into Epic Alliance Real Estate Inc. which went belly up in January — but he quickly became “concerned.”
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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